Did you know?

The Patriot Post is funded 100% by its readers, avoiding the influence advertisers and special interest groups impose on other publications. Help us stay front and center in the fight for Liberty and support the 2021 Year-End Campaign.

David Harsanyi / January 17, 2020

The Democrats’ Economic Message Is Preposterous

Actually, contends every 2020 Democratic presidential hopeful, the economy is in really bad shape.

Actually, contends every 2020 Democratic presidential hopeful, the economy is in really bad shape. It is only working for the wealthiest among us while leaving behind the poor, the working class and the shrinking middle class.

Now, I suppose one could forgive the socialist contingent of the party for offering knee-jerk class-based bromides — their entire worldview, after all, is centered on class struggle — but even alleged moderates such as Joe Biden are falling back on economic arguments that are wholly disconnected from anything resembling reality.

Democrats could simply say: “Yes, it’s true that the economy has been doing rather well for most Americans since Barack Obama saved it from the nefarious clutches of the Republican Party, but it’s important that we never forget the men and women — and especially minorities — who’ve yet to benefit from this recent economic uptick. We can do better!”

That, of course, would mean implicitly admitting that easing regulatory oversight, cutting taxes and leaving the economy largely alone can be a successful formula for growth, which won’t do. So, instead, the left continues to be consumed by the zero-sum fallacies of “inequality” to such an extent that it often sounds like it’s more interested in punishing the wealthy than lifting the poor.

As far as I can tell, not a single moderator or reporter has ever asked Bernie Sanders or Elizabeth Warren to explain exactly how instituting a punitive tax on the rich will create higher wages for low earners. Can either point to any time in history when tax hikes triggered organic wage growth or an increase in self-sufficiency among Americans?

Wages for the lowest-end earners, in fact, have grown faster than they have for higher-wage earners in recent years. Some of it is due to new minimum wage laws — which, though they benefit very few, are a luxury we might be able to afford with a humming economy — and a tight job market that’s putting upward pressure on salaries. There are more open jobs than there are people trying to find a job.

In the last debate, Tom Steyer claimed, “90 percent of Americans have not had a raise for 40 years.” Politicians have been peddling the “wage stagnation” myth for a decade now. The notion that Americans make no more than their grandparents conveniently ignores a big expansion of employment-based benefits, increased efficiency and technological advances that have, by any genuine real-world measure, vastly improved the economic life of the average American.

Yet, in last night’s debate, Biden again asserted, to applause, that the middle class was “being clobbered” and “killed.” (The middle class is actually quite alive. It isn’t losing ground to poverty. It has been losing ground to the upper-middle-class for 40 years, however.)

Last year, the S&P 500 rose by 29%, the NASDAQ by 35%, and the Dow Jones Industrial Average by 22%. Middle-class Americans are increasingly reliant on their 401(k)s and pensions to live comfortably during retirement. Millions of other Americans depend on college-savings funds to help pay for their kids’ educations. And even those without a stock portfolio benefit from a vibrant market, which generates profits that are invested in hiring, innovation and salaries while helping move money from unprofitable sectors to more profitable ones.

This chaotic churning of money turns off technocrats. Rather than taking the view that the growing economy is a messy but neutral marketplace where ingenuity and opportunity can create comfort and wealth, they see it as a giant pile of money that should be “invested” in massive, state-mandated social engineering projects. As far as I can tell, both Sanders and Warren are interested in effectively nationalizing large chunks of the health care and energy sectors.

And yet the media continue to cover the Democratic primary debates where such ideas are the currency of the realm as if they were completely normal.

They are not. Democrats today argue that we should institute wide-ranging regulatory regimes such as the Green New Deal, which, whatever form it ends up taking, would necessitate the biggest tax increase in American history. There was not a single Democrat on the debate stage this week who didn’t support deliberately limiting and inflating the cost of our most efficient and affordable energy sources. This is not an ordinary debate.

Now, whether we’re living in the greatest economy the nation has ever experienced, as Donald Trump often contends, is up for debate. It’s safe to say we’ve been experiencing one of the strongest stretches in modern history since back when gridlock hit D.C. during the Obama administration.

COPYRIGHT 2020 CREATORS.COM

Start a conversation using these share links:

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2021 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.