https://theweek.com/articles/936534/trum...than-biden
EXCERPT (Shikha Dalmia): . . . And, of course, President Trump has called Biden a "Trojan horse for socialism." Is he? In one sense, yes. But in that same sense, Trump is too.
Full-blown socialism of course means abolishing private property and putting industry under direct government control. The manufacturing and distribution of goods is nationalized. Government bureaucrats establish production quotas, set prices, and determine consumption, usually via rationing. This is what Vladimir Lenin did to the Soviet economy after the 1918 Bolshevik revolution and the Venezuelan dictator Hugo Chavez did to vast sections of his country almost a century later.
Neither Biden nor Trump are socialists in this robust sense. However, in common parlance{*}, socialism has come to mean an expansive economic role for the government via federal spending on the one hand, and industry mandates and regulations on the other. By this definition, Cato Institute's tells me, both candidates are socialists, just different versions.
Neither has any compunctions about using massive deficit-spending to boost economic growth. Neither is averse to picking economic winners and losers by helping industries they favor and crippling those they don't via regulations and mandates. Trump, Lincicome notes, has been quite adept at using Uncle Sam to slam industries that hurt his America First agenda — and boost those that help it. Biden, meanwhile, is a typical Democrat who wants to use Big Government to tax rich companies and individuals and pursue a redistributive liberal agenda... (MORE - details)
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EXCERPT (Shikha Dalmia): . . . And, of course, President Trump has called Biden a "Trojan horse for socialism." Is he? In one sense, yes. But in that same sense, Trump is too.
Full-blown socialism of course means abolishing private property and putting industry under direct government control. The manufacturing and distribution of goods is nationalized. Government bureaucrats establish production quotas, set prices, and determine consumption, usually via rationing. This is what Vladimir Lenin did to the Soviet economy after the 1918 Bolshevik revolution and the Venezuelan dictator Hugo Chavez did to vast sections of his country almost a century later.
Neither Biden nor Trump are socialists in this robust sense. However, in common parlance{*}, socialism has come to mean an expansive economic role for the government via federal spending on the one hand, and industry mandates and regulations on the other. By this definition, Cato Institute's tells me, both candidates are socialists, just different versions.
Neither has any compunctions about using massive deficit-spending to boost economic growth. Neither is averse to picking economic winners and losers by helping industries they favor and crippling those they don't via regulations and mandates. Trump, Lincicome notes, has been quite adept at using Uncle Sam to slam industries that hurt his America First agenda — and boost those that help it. Biden, meanwhile, is a typical Democrat who wants to use Big Government to tax rich companies and individuals and pursue a redistributive liberal agenda... (MORE - details)
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