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Open Discussion Discuss Social Market Economy at the General Forum; "A vote for any Democrat is a vote for Socialism," stated Donald Trump. This is a commonly held talking point ...

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Old 08-16-2019, 11:56 AM
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Default Social Market Economy

"A vote for any Democrat is a vote for Socialism," stated Donald Trump.

This is a commonly held talking point for the GOP as the 2020 elections approach. They're placing their election bet on "socialism" being the buzz word that turns American voters into voting for Republicans. The problem is that it just isn't true. Democrats are also capitalists but even I was having a hard time finding the Capitalistic economic philosophy of the current Democratic platform.

In the past the Democrats were often associated with Keynesian economic policies where the government would increase spending during recessions and then save up during economic growth to fund the future recession spending. The basic "save money for a rainy day" approach to dealing with the economy. Unfortunately every time there was economic growth the Republicans would cut taxes and then deficit spend to fund government expenditures leaving the nation in a bigger financial hole during the next recession.

Keynesian economics also failed to address the growing income and wealth inequality that's resulted from the loss of balance between the employees and employers as the power of labor unions were stripped leaving the market's downward pressure on compensation unchallenged in the work place.

It took me awhile to find the economic philosophy behind the current Democrat's positions but it was out there waiting to be found.

The Social Market Economy


Definition:
Quote:
social market
n
(Economics)
a. an economic system in which industry and commerce are run by private enterprise within limits set by the government to ensure equality of opportunity and social and environmental responsibility.
https://www.thefreedictionary.com/Social+market+economy

Private Enterprise - Capitalism not Socialism

Quote:
The social market economy was designed to be a third way between laissez-faire economic liberalism and socialist economics. It was strongly inspired by ordoliberalism,[6] social democratic reformism and the political ideology of Christian democracy, or more generally the tradition of Christian ethics. The social market economy refrains from attempts to plan and guide production, the workforce, or sales, but it does support planned efforts to influence the economy through the organic means of a comprehensive economic policy coupled with flexible adaptation to market studies. Combining monetary, credit, trade, tax, customs, investment and social policies as well as other measures, this type of economic policy aims to create an economy that serves the welfare and needs of the entire population, thereby fulfilling its ultimate goal.
https://en.wikipedia.org/wiki/Social_market_economy

Any viable economic system must serve the needs of the entire population and not just the desires of the Top 1%. That's been the problem with the US economy for the past 40 plus years were the conservative economic agenda has always been tilted to serve the "Capitalists" that are the employers while suppressing the employees that actually produce the wealth.

An economic system designed so that both the employers and the employees benefit from the wealth being created and where social and environmental responsibility is ensured.

This is definitely an improved version of Capitalism that Americans can and should support.
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Old 08-16-2019, 01:18 PM
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Default Re: Social Market Economy

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In the past the Democrats were often associated with Keynesian economic policies where the government would increase spending during recessions and then save up during economic growth to fund the future recession spending. The basic "save money for a rainy day" approach to dealing with the economy.
Really?????????????...

Tell me...WHEN was that?...Be specific...

You said "often" so you must have MANY examples...
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Old 08-16-2019, 02:46 PM
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Default Re: Social Market Economy

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Originally Posted by ShivaTD View Post
In the past the Democrats were often associated with Keynesian economic policies where the government would increase spending during recessions and then save up during economic growth to fund the future recession spending. The basic "save money for a rainy day" approach to dealing with the economy.


Oh Christ in a cardigan, that is by far the funniest thing I've heard in quite some time.
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Old 08-16-2019, 04:09 PM
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Default Re: Social Market Economy

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Originally Posted by cnredd View Post
Really?????????????...

Tell me...WHEN was that?...Be specific...

You said "often" so you must have MANY examples...
When the recession hit in 2008 and Obama took office in 2009 the Obama proposal was to increase federal spending to help offset the economic downturn. That's Keynesian economics. When Clinton left office he left a tax structure that would create surplus revenue when the country could afford to provide revenue in excess of expenditures. That's Keynesian economics.

When President Bush cut taxes in 2001 and 2003 and went on an unfunded spending spree between 2001 and 2008 leaving the country with twice the national debt that he inherited that's not Keynesian economics. When Republicans insisted on cutting taxes for working Americans that weren't affected by the 2008 Recession that was basically ignorant because it didn't do anything to address those unemployed and harmed by the Recession.

Between 2008 and 2013 (when the Recession really ended for most Americans) I was earning about $150,000/yr and I didn't need a tax cut. I would have been willing to have my taxes increased to help the country through the Recession. Why Republicans thought a tax cut for me would help America out of the Recession was really an unanswerable question in my mind.
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Old 08-16-2019, 04:14 PM
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Default Re: Social Market Economy

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Originally Posted by lurch907 View Post


Oh Christ in a cardigan, that is by far the funniest thing I've heard in quite some time.
Democrats earned the reputation of "Tax and Spend" liberals because Democrats always proposed taxation to fund their expenditures.

The Republicans have recently become the Party of "Cut Taxes and Borrow" to fund government expenditures.
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Old 08-16-2019, 04:20 PM
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Default Re: Social Market Economy

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When the recession hit in 2008 and Obama took office in 2009 the Obama proposal was to increase federal spending to help offset the economic downturn.
Are you high? In 2010 Obama's tax cuts added 858 billion in deficits in the first two years. That is not Keynesian economics.

Last edited by lurch907; 08-16-2019 at 04:26 PM..
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Old 08-16-2019, 04:25 PM
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Default Re: Social Market Economy

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Democrats earned the reputation of "Tax and Spend" liberals because Democrats always proposed taxation to fund their expenditures.
Well, that certainly explains b.o.'s 2010 tax cuts along with his increases in spending. I.e. 800 billion in increased defense spending, 554 billion American Recovery and Reinvestment, etc.

Do you do any checking before you post or just make it up as you go?
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Old 08-19-2019, 12:43 PM
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Default Re: Social Market Economy

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Originally Posted by ShivaTD View Post
When the recession hit in 2008 and Obama took office in 2009 the Obama proposal was to increase federal spending to help offset the economic downturn. That's Keynesian economics. When Clinton left office he left a tax structure that would create surplus revenue when the country could afford to provide revenue in excess of expenditures. That's Keynesian economics.


So Obama spent the money that Clinton left for him



Why Republicans thought a tax cut for me would help America out of the Recession was really an unanswerable question in my mind.
Tax cuts and regulation cuts always helps the economy. Increased Taxes and additional regulations slow the economy. That is why the recession lasted so damn long. It was over 6 months after Obama took office, but the pain lasted for 8 years.

If you don't believe me, look up why the feds never increased rates until Trump was elected. After November 8th 2016 the markets reacted positively because they knew the future looked bright, because they knew Trump would decrease taxes and regulations. The feds reacted to the same thing and started raising rates every quarter.
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