Economy

Democrats

Democrats rely more on government intervention to influence the economy’s direction

Promote economic policies that benefit low and middle income families

They believe that economic growth rests in reducing income inequality

American Dream is the right to education, a good job, decent housing, and health care

Democrats believe every child should have the opportunity to high quality education, and that it is the pathway to economic growth for the individual and the country

Equity in education: they focus resources on those at the lowest income levels

They subscribe to a belief that businesses are more focused on earning a return for shareholders, and willing to cut corners in terms of protecting the overall social good

Party’s approach often described as “tax and spend.” Even during economic downturns, Democrats tend to believe that deficit spending is necessary to help stimulate the economy until private business prospects improve

Looking to enhance and extend welfare programs to help citizens that have lost their jobs or are in more need due to challenging economic conditions.

Republicans

They believe that every American deserves the right to own, invest, build, and prosper

They believe that sensible business regulations are incredibly important, and that business regulations should promote confidence in the economy among both consumers and businesses

Republicans oppose any policies that are seen as interventionist, and that give the federal government control of industry

Believe that small businesses are the backbone of the American economy. Therefore they should not be stifled by policies that instead benefit large corporations

They would seek a financial environment that would make financing and credit more accessible to small businesses, allowing them to pursue manufacturing and expansion

Want to see a simplification of tax system

Think that Americans should be more aggressive in their promotions of American products abroad, because the economy would greatly benefit from American companies being more competitive in the world market

Republicans want to see government spending reduced

Republicans believe that the acceptable role of taxes in an economy is to “fund services that are essential and authorized by the Constitution, such as national security, and the care of those who cannot care for themselves.”

They believe that taxes such as those that redistribute wealth or fund unnecessary programs, should be done away with, and that money should stay in the pockets of the American people