Arguments Regarding The Us Economy From Conservative And Liberal Mindsets

6811 words - 27 pages

Arguments Regarding the US Economy from Conservative and Liberal Mindsets


Introduction
The Republicans and Democrats have similar and different views on how to handle the United States of America and its immense economy. Both of the parties are more ideologically alike than different. Both parties support the United States Constitution, private property, free enterprise, and our individual freedom. Both view government's role as a limited one, to varying degrees. They support majority rule and the due process of law. Both generally support the reforms made in the New Deal, such as social security, income tax, and welfare. (Goshen, Chapter 10 Notes)

Republicans tend to be conservative and Democrats tend to be liberal. If you were to summarize the Republican philosophy on the economy, you would see three prevailing points. The party supports minimal government, lower taxes, and less government intervention. Republicans believe that economic success comes from innovation and hard work. The Democratic Party represents the "common people's" aspirations. Through a large government, high taxes, and social programs, they believe they can help bridge the gap between the wealthy and the poor.

Brief History of the United States’ Two Major Political Parties

The two major political parties today can be traced back to the founding of the United States Constitution. At the time the document was drafted, two factions emerged: the Federalists and the Anti-Federalists. The Federalists consisted mostly of bankers and merchants. The Anti-Federalists, also known as the Democratic Republicans or Jeffersonian Republicans, consisted mostly of farmers and planters. When the Democratic Republicans broke up, the majority of its members went to the Democrat Party, starting with the Andrew Jackson presidency. Franklin D. Roosevelt completely changed the way government works and changed both of the parties a great deal, particularly his own, the Democrat Party.

The Federalist Party ended in 1816. In 1834 it was rekindled under the name of the Whig Party. They were a loose coalition of groups united in their opposition to what party members viewed as the executive tyranny of “King Andrew” Jackson. The Whig Party ended slightly after the Civil War. The Republican Party came about in the early 1850’s on the issue of granting western lands to settlers and supporting the abolitionist movement. The Republican Party is the only third party is United States history to ever become a major party. The Republican Party, or GOP, formed in 1854. The party did not win an election until 1861 when Abraham Lincoln took office. (Goshen, Chapter 10 Notes) Ronald Reagan completely changed the way the federal government works when he undid many of the things Franklin D. Roosevelt created when Reagan dissolved power back to the states, in support of the ideals of the Republican party.

The Republican Argument
Freedom is what our ancestors fought for in the...

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