New research from the Institute of Economic Affairs (IEA) shows that a whopping 67% of Britons aged 16-34 would like to live in a socialist economic system, with three-quarters also agreeing with the statement that ‘socialism is a good idea, but it has failed in the past because it has been badly done’. “Badly done” is one way of describing the gulags…

Of course, the hilarious irony here is that as much as these dewy-eyed Zoomers weep for a socialist utopia, they don’t like the idea of actually paying for it:

As data from Redfield & Wilton shows, support for cutting spending is actually highest among young people, with 60% of 18-24 year olds and 51% of 25-34 year olds believing the government should cut spending, whilst 48% of over 55s think taxes should be raised – presumably on the working young. The research also shows that a higher proportion of Labour’s predominantly younger voters compared to Tory voters, support tax cuts, which could make Labour’s ongoing policy review more interesting…

The IEA paper’s author, Dr. Kristian Niemietz, adds:

“These results show that “Millennial Socialism” is not just a social media hype, and it was not just a passing fad which ended with Jeremy Corbyn’s resignation… Supporters of the market economy need to accept that challenge, and rise to it, rather than dismiss it, or pretend it is not happening. We need to get better at making the positive case for capitalism, developing market-based policy solutions to the problems young people are facing, as well as explaining why socialism, seductive though it may be, is always and everywhere a dead end.”

Millennial Socialists should take a close look at their payslip, the deductions for tax will be even more if we get an even more socialist government…