A major premise of a socialist system is
A) to make sure that the people who 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

The major premise of socialism is to reduce inequality in the distribution of wealth, which means that the goal is to promote more equal economic outcomes for all members of society. This is achieved through policies like progressive taxation and redistribution of wealth. The other choices are not consistent with a socialist system, as they prioritize the accumulation of wealth by individuals or businesses over the common good.

A Major Premise of a Socialist System Is