As a “Democratic Socialist” presidential candidate, Bernie Sanders hopes to tackle the problem of income inequality in the United States. Recently, his campaign has taken the country by storm, only trailing the democratic frontrunner former-Secretary-of-State Hillary Clinton by about 13% in national polls and even surpassing Clinton in certain states.

He has strong socialist views when it comes to economics. He advocates for a universal single-payer healthcare system and a socialist economy with dramatically increased taxes on the rich and corporations. Sanders’ supporters feel his ideas will truly benefit the hard-working middle class, stop the “greedy” rich from profiting unjustly, and help solve income inequality. But what is overlooked by many of his followers are the major loopholes and flaws in his socialist plans.

Democratic-socialism combines a democratic political system with a socialist economy. A socialistic economy is “an economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole” (Oxford English Dictionary). The major driving goal of socialism is to put an end to social inequality and classes within society. The ultimate hope is to achieve an utopian society through socialist changes. Senator Sanders’ plan includes raising taxes to a possible 52% on the top 1%, including large corporations. The major flaw with this plan, we think, is that rich corporations and people will leave the country to avoid this tax. A corporation’s objective is to maximize profit and if this cannot be fulfilled in the U.S., they will move to countries with a lower corporate tax. Companies will move to countries like Ireland which have a lower corporate tax and a similar economy. Corporations are already starting to do this through tax inversions. If corporations and the rich move out of the United States, Sanders’ higher tax will fall onto the middle class. If companies leave, jobs would be exported to other countries as well, increasing the U.S. unemployment rate, which is already quite high.

So Sanders will move jobs overseas, singlehandedly destroy the economy, and increase taxes on the working middle class.

Sanders often shows his admiration for the successful Nordic economic model, citing Denmark’s economy as the perfect model of working socialism. Lars Løkke, the Prime Minister of Denmark, says that Sanders is wrong about the Nordic economy. In a speech at Harvard’s Kennedy School of Government,  Prime Minister Løkke stated: “I know that some people in the U.S. associate the Nordic model with some sort of socialism. Therefore I would like to make one thing clear. Denmark is far from a socialist planned economy. Denmark is a market economy.”

A market economy is an economy in which decisions regarding investment, production, and distribution are based on supply and demand so the prices of goods and services are determined in a free-price system. Denmark has a corporate tax of only 23.5% and this, we would argue, is the reason for its economic success: Adjusted tax rates and low corporate tax, we believe, lead to successful economic booms. U.S. voters, we think, should be wary of Sanders’ ideas.