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Republicans Unveil Policies to Match ‘Working-Class Party’ Claim

Republicans have taken to calling themselves the party of the working class, but their policy preferences haven’t reflected that: a growing group of GOP lawmakers is setting out to change that.

4/12/2021 6:30:00 PM

Republicans have taken to calling themselves the party of the working class, but policy preferences didn’t reflect that. Now a growing group of GOP lawmakers is setting out to change that, writes GeraldFSeib.

Republicans have taken to calling themselves the party of the working class, but their policy preferences haven’t reflected that: a growing group of GOP lawmakers is setting out to change that.

April 12, 2021 10:26 am ETRepublicans have been proclaiming for several years now that they have become the party of the working class, and with some justification. Working-class voters have indeed been marching into the party.There has been a problem, though. Many of these voters became Republicans for cultural reasons, turned off by Democrats’ drift leftward on social issues. But their new party, the GOP, didn’t have much in the way of actual economic policies to appeal to them.

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In fact, quite the opposite: For ideological reasons, many conservative Republicans opposed the kinds of government programs to benefit working-class families that Democrats have long championed. To some extent, working-class voters had arrived in a party that at times appeared somewhere between indifferent and hostile to their economic needs.

Now, that is changing. Starting a couple of years ago, and increasingly since the coronavirus economic downturn, there has been a sprouting of new-wave conservative proposals designed to help working-class families, even if those plans required ditching traditional free-market economics and concerns about budget deficits. headtopics.com

Read more: The Wall Street Journal »

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GeraldFSeib Just hide Romney, if you want any success. His comments about the 47% will always haunt him. GeraldFSeib Does the WSJ and Seib think the monolithic white GOP and MAGATrumpers are going to change their spots and vote for the Biden infrastructure bill? Or is the GOP going to do the media game of stating the lie over and over until it comes out like Reagonomics?

GeraldFSeib Best way to increase savings to grow exports & help the working class is to balance the budget & pay down debt. Budget deficits are dis-savings. Budget deficits have taken off. Taxes should back to levels under Truman & Ike. GeraldFSeib As savings has dropped, exports have tanked & manufacturing jobs have been lost.

GeraldFSeib US Trade Deficit has exploded hurting the working class. Millions of jobs have been lost. GeraldFSeib The best way to help the working class is to increase savings. More savings = more exports. Savings-Investment=Exports-Imports GeraldFSeib The GOP has gone so far right that now they are coming to the left.

GeraldFSeib Is The GOP country club party trying to crash the blue collar working class party? Do tell. GeraldFSeib Republicans have spent 50 years opposing healthcare and stable wage growth, they do not represent the working class. GeraldFSeib horrible GeraldFSeib Republicans or R politicians?

Republicans unveil $568 billion counteroffer to Biden's infrastructure planRepublicans unveiled a $568 billion infrastructure framework Thursday -- their answer to President Joe Biden's far more expansive $2 trillion package. That a non starter. I have to side with my fellow Hoosier mayor Pete. Infrastructure demands bigger inclusion than just roads & bridges. Infrastructure is everything that makes up America, no? The most important structure to this country is people. Nothing works without them (us). Finally the adults have arrived.

Republicans unveil $568 bln infrastructure package to counter BidenU.S. Senate Republicans on Thursday proposed a $568 billion, five-year infrastructure package as a counteroffer to President Joe Biden's sweeping $2.3 trillion plan, calling their measure a good-faith effort toward bipartisan negotiations. Makes much more sense than the Green New Deal that Basement Biden is proposing. Obviously Economics wasn’t his strong suit. If he can remember that far back! Ok, the GOP finally decided to legislate?

Infrastructure negotiations: Republicans to unveil $600 billion framework as Democrats try to iron out issuesThe real work of finalizing an infrastructure package that can have widespread Democratic support on Capitol Hill is just beginning as the party must reckon with key differences between progressives and moderates on the scope and cost of the package -- as well as GOP lawmakers offering their own alternative. Ram it thru. Let's GO! DO NOT NEGOTIATE WITH THE GOP. THEY WILL NOT VOTE FOR IT. Inflation whoop whoop bitcoin

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Biden will unveil eye-popping new tax rates for wealthiest AmericansPresident Biden in the next few days will unveil eye-popping new tax rates for the wealthiest Americans —a top marginal income tax rate of 39.6% and a capital gains rate of 43.4%.Why it matters: The proposal, to be announced ahead of Biden's address to Congress next Wednesday, is an opening bid for Hill negotiations.Get market news worthy of your time with Axios Markets. Subscribe for free.'For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. For Californians, it could be 56.7%,' Bloomberg News reported.The Dow closed down more than 300 points after the plans leaked.Practically and politically, the White House needs buy-in from Congress to pay for social spending in the next phase of his plan to reshape the American economy, the American Families Plan.Between the lines: Democrats close to the White House believe that the amount of revenue that the IRS can collect on capital gains actually decreases past a certain point, probably in the low 30% range. That means the ultimate capital gains rate could be well below 43.4%Officials haven't yet made clear whether the capital gains rate would apply in 2022 — or in 2021, which would allow the IRS to harness some of this year's massive equities earnings.Goldman Sachs sent out a research note last evening entitled, “No Surprises in President Biden’s Reported Capital Gains Proposal.': 'We expect Congress will pass a scaled back version of this tax increase.' What we're watching: Biden also is likely to raise more revenue from the wealthy by making changes to estate taxes.Biden wants to change the so-called 'stepped up basis' for accounting purposes, and value assets when they are passed on to an heir, not at their original cost.The White House thinks that change could lead more individuals to liquidate assets before they die, allowing the IRS to tax them then instead of encouraging families to keep passing on them for more favorable tax treatment. Editor's note: This story has been cor Doesn’t mean shit without closing the loopholes. If the IRS would just enforce existing rates we would be fine. Still have to increase the SS tax cap and trim the fat on defense spending. Change the Medicare Part D drug pricing act and maybe you can balance the budget. the money maker Goodbye jobs for the middle and lower class