Thursday, January 24, 2019

Norway

The push for socialism is on the rise in the USA. Often times it is referred to as democratic socialism such as they have in Europe and more specifically Scandinavian Countries of which Norway is a typical example. In Norway 83% of the people are Norwegians going back many generations meaning the they have a common culture, language and religion with 80% being Lutheran. The government owns 68% of the oil that was discovered in the North Sea. Norway’s giant government savings fund said it hit a new milestone on Tuesday: It had amassed $1 trillion, or roughly $188,000 for each of the 5.32 million Norwegians. Money from this fund is used to provide public aid. The per-capita gdp in Norway is $66,000 vs $59,000 in the USA but the cost of living is 45% higher in Norway, for example a haircut cost $50. About 30% of the average workers paycheck goes to taxes whereas it is about 12% in the USA. 30% of those employed work for the government as opposed to 15% in the USA. College tuition if free and healthcare is almost free at about $250 per year. In summery, “In Norway, many of the things you need are cheap and many things you want are expensive. In the US, it's the reverse.

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