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Wed Jul 21, 2021, 07:15 PM

Biden 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 GOP’sIt’s 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. That’s 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 GOP’s warnings “that if I got elected, I’d 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. We’re making serious progress to ensure that it works the way it’s supposed to work: for the good of the American people.”

That last line is central to Biden’s 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 people’s lives, not just to grow the economy, and to that end, the government should regulate capitalism and compensate for its excesses. In Biden’s words, the political system must “ensure that all working Americans benefit from the growth they’re helping produce.” That means we should measure the economy’s health by wages, not just corporate valuations. “I don’t look at the stock market as a means by which to judge the economy, like my predecessor did,” said the president.

In Biden’s version of capitalism, workers don’t 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 it’s “a problem if big companies have actually to compete for workers and offer them a fair wage.”

......SNIP"

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Reply Biden Just Explained Why His Version of Capitalism Is Better Than the GOP's It's more popular, too. (Original post)
applegrove Wednesday OP
XanaDUer2 Wednesday #1
uponit7771 Wednesday #2
XanaDUer2 Wednesday #3
Walleye Wednesday #4
pansypoo53219 Wednesday #5
CentralMass Wednesday #6
bucolic_frolic Thursday #7
applegrove Thursday #8

Response to applegrove (Original post)

Wed Jul 21, 2021, 07:21 PM

1. I love Joe

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.

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Response to applegrove (Original post)

Wed Jul 21, 2021, 07:22 PM

2. I like Biden's "Middle out vs trickle down" slogan, even MAGA understands it

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Response to uponit7771 (Reply #2)

Wed Jul 21, 2021, 07:39 PM

3. It's clear, easy-to-understand messaging

nothing wonky

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Response to applegrove (Original post)

Wed Jul 21, 2021, 07:51 PM

4. Biden:"I'm sick of the middle class getting the shaft".

No malarkey. He’s reminding me more and more of Truman.

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Response to applegrove (Original post)

Wed Jul 21, 2021, 08:44 PM

5. crapitalism vs capitalism + unions.

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Response to applegrove (Original post)

Wed Jul 21, 2021, 08:50 PM

6. I like his new focus as President.

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Response to applegrove (Original post)

Thu Jul 22, 2021, 02:09 PM

7. It's even worse than that

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.

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Response to bucolic_frolic (Reply #7)

Thu Jul 22, 2021, 04:57 PM

8. +100

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