Conservatives talk and act as if capitalism is an...

July 18th, 2012

Zoom

Conservatives talk and act as if capitalism is an all-or-nothing proposition: Either you accept the free market or you reject it. And they think Obama is now rejecting it. But there is a vast middle ground between these extremes…The central debate in this presidential election is which, if any of those, tools government should use—and to what extent. And here Obama has been entirely consistent. Yes, he’s supported free trade, preached the virtues of deficit reduction, and relied upon advisers who, in their own business dealings, engaged in the same sorts of practices as Bain. But he’s also fought for more regulation of Wall Street, to prevent the kinds of abuses that destroyed the economy in 2008; for a more progressive tax code, so that the rich give back a little more of their money and government programs have revenue to operate; and for a guarantee of health insurance to all Americans… Whether or not you believe in the impetus for these initiatives…they are evidence of a worldview that Obama, like most moderate liberals, has always espoused. And Romney’s worldview is very different. Like Obama, Romney is a free-trader, preaches the virtues of deficit reduction, and relies upon advisers who engage in practices like Bain did. But Romney thinks regulating Wall Street is a bad idea: He wants to give bankers more leeway, not less. Romney wants to reduce income taxes on the rich, in ways that will widen inequality and require vast cuts to existing government programs…Romney wants to weaken protection against medical bills, not just for those who would receive insurance from the Affordable Care Act but also those who already receive insurance from Medicare and Medicaid…If the terms of the debate have changed in the last few years, it’s not because Obama and his supporters have moved to the left. It’s because Romney and his supporters have moved to the right.

more.

Conservatives talk and act as if capitalism is an all-or-nothing proposition: Either you accept the free market or you reject it. And they think Obama is now rejecting it. But there is a vast middle ground between these extremes…The central debate in this presidential election is which, if any of those, tools government should use—and to what extent. And here Obama has been entirely consistent. Yes, he’s supported free trade, preached the virtues of deficit reduction, and relied upon advisers who, in their own business dealings, engaged in the same sorts of practices as Bain. But he’s also fought for more regulation of Wall Street, to prevent the kinds of abuses that destroyed the economy in 2008; for a more progressive tax code, so that the rich give back a little more of their money and government programs have revenue to operate; and for a guarantee of health insurance to all Americans… Whether or not you believe in the impetus for these initiatives…they are evidence of a worldview that Obama, like most moderate liberals, has always espoused. And Romney’s worldview is very different. Like Obama, Romney is a free-trader, preaches the virtues of deficit reduction, and relies upon advisers who engage in practices like Bain did. But Romney thinks regulating Wall Street is a bad idea: He wants to give bankers more leeway, not less. Romney wants to reduce income taxes on the rich, in ways that will widen inequality and require vast cuts to existing government programs…Romney wants to weaken protection against medical bills, not just for those who would receive insurance from the Affordable Care Act but also those who already receive insurance from Medicare and Medicaid…If the terms of the debate have changed in the last few years, it’s not because Obama and his supporters have moved to the left. It’s because Romney and his supporters have moved to the right.

more.