A recent White House report has been rejected by Danish politicians as “fake news” after it claimed living standards in Nordic countries were 15 percent lower than in the United States because of socialism.
The report, The Opportunity Costs of Socialism, was put together by the White House’s Council of Economic Advisors (CEA) in the lead up to next week’s US midterm elections.
It aimed to compare conditions in socialist countries to the US with a part focus on “socialist success stories,” such as the Nordics.
But, “although they are sometimes cited as more relevant socialist success stories, the experiences of the Nordic countries also support the conclusion that socialism reduces living standards,” the report said.
“By some measures, even poor American households have better living standards than the average person living in a Nordic country.”
The CEA researchers specifically mentioned high taxes and outdated 1970s Nordic policies, that, if adopted in the US, could lower the country’s average GDP by 19 percent, or $11,000 per person.
It also pointed out the population in the US with Nordic heritage earn more than those who chose to remain at home.