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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBiden Just Explained Why His Version of Capitalism Is Better Than the GOP's It's more popular, too.
Biden Just Explained Why His Version of Capitalism Is Better Than the GOPsIts more popular, too.
BY WILLIAM SALETAN at Slate
JULY 19, 20219:26 PM
https://slate.com/news-and-politics/2021/07/biden-capitalism-socialist-gop.html
"SNIP.....
Republicans love to accuse Democrats of socialism. Thats how Republican senators, House leaders, and Fox News hosts talk about President Joe Biden: They call him a socialist, a front man for socialists, a Marxist, or a communist sympathizer. This makes sense as a political strategy, since Americans oppose socialism and prefer capitalism. But the accusation is false. Biden is a capitalist, and his version of capitalism is stronger, fairer, and more popular than the Republican one.
On Monday, the president spoke about the economic recovery and the threat of inflation. He poked fun at the GOPs warnings that if I got elected, Id bring the end to capitalism. Six months into my administration, the U.S. economy has experienced the highest economic growth rate in nearly 40 years, he observed. It turns out capitalism is alive and very well. Were making serious progress to ensure that it works the way its supposed to work: for the good of the American people.
That last line is central to Bidens worldview. Capitalism is a means, not an end. It excels at producing wealth, not distributing it. The goal of a capitalist society should be to improve peoples lives, not just to grow the economy, and to that end, the government should regulate capitalism and compensate for its excesses. In Bidens words, the political system must ensure that all working Americans benefit from the growth theyre helping produce. That means we should measure the economys health by wages, not just corporate valuations. I dont look at the stock market as a means by which to judge the economy, like my predecessor did, said the president.
In Bidens version of capitalism, workers dont just compete with one another for jobs; employers have to compete with other employers for workers. Right now, due to a labor shortage, Companies across the country are giving workers a raise, he noted. He tweaked Republicans for complaining about this trend, as though its a problem if big companies have actually to compete for workers and offer them a fair wage.
......SNIP"
XanaDUer2
(10,663 posts)proud to have supported him and donated to him from the beginning. He's Teflon.
They can try to tarnish him all they want. It won't stick.
uponit7771
(90,336 posts)XanaDUer2
(10,663 posts)nothing wonky
Walleye
(31,017 posts)No malarkey. Hes reminding me more and more of Truman.
pansypoo53219
(20,976 posts)CentralMass
(15,265 posts)bucolic_frolic
(43,157 posts)Republicans prefer socialism for corporations so they get protection from free markets, government subsidies, corporate tax breaks, low wages to exploit labor, and can push the costs of the social safety net onto government and those who pay taxes - the workers.
There's no such thing as a free lunch, just a free ride for corporations.