Democrats vs. Republicans: The Economics Behind the Republican and Democratic Parties in One Minute

the political landscape of the u.s. is dominated by the Republicans and the Democrats who frequently have completely different economic views when it comes to one ideology Democrats can be considered less leaning so closer to socialism than the Republicans but still more to the right in their European counterparts Republicans can be considered right leaning so closer to let's say pure capitalism but more to the left and let's say the libertarian party to the role of the state Republicans like the idea of less government interference and more free-market capitalism whereas Democrats think the government should be more present in our lives through things like deficit spending after a financial crisis to jumpstart the economy more regulatory oversight and so on three taxation Democrats stand firmly behind progressive taxation so higher tax rates for those who earn more whereas Republicans prefer less taxation in general and perhaps even an eventual flat tax rate for health care Democrats like the idea of universal government provided health care whereas Republicans would rather let private sector companies be in the spotlight five social safety nets Democrats tend to be more generous when it comes to government assistance through various programs such as food stamps whereas Republicans want less of a burden on the taxpayer six defense Republicans are more willing to spend money on defense and law enforcement than Democrats who prefer a more pacifist rhetoric finally seven national debt in theory Republicans are more debt averse than Democrats however both parties engaged in quite a bit of deficit spending over the years as the u.s. debt level of roughly 20 trillion dollars proves

Channel: One Minute Economics

Views: 44,468

Keywords: democrats vs. republicans, democrat vs republican, democrat economics, republican economics, democratic party, republican party, democratic party economy, republican party economy, democratic party economics, republican party economics, republican and democratic parties, one minute economics

Id: Pl9pAtdJck4

Length: 1min 33sec (93 seconds)

Published: Wed Jun 28 2017