A major premise of a socialist system is:
A)To make sure that those that create wealth are allowed to keep that wealth.
B)To reduce the inequality in the distribution of wealth.
C)To create incentives to encourage entrepreneurs to create jobs and economic growth.
D)To keep tax rates extremely low so that businesses do not need to support government projects.

Question

Quizplus · Accepted Answer

A major premise of a socialist system is to reduce the inequality in the distribution of wealth. This goal is achieved through a variety of means, such as progressive taxation, social and economic programs aimed at supporting the less fortunate, and public ownership of means of production. The goal is not to make sure that those who create wealth keep it, but rather to ensure that everyone benefits from society's resources in a fair and equitable manner. The other options given, such as creating incentives for entrepreneurs, or keeping tax rates low, are not central to a socialist system's objectives.

A Major Premise of a Socialist System Is