Herself and Galston

After dismissing the GOP for being anti big business,

Sidebar: Since at least Reagan, the GOP has been the party of competition.  Big business does not want competition.  Democrats continue to be the party of big business, big labor, and big government.  End sidebar

leftist WSJ columnist William Galston has this about the Democrats led by Herself.

Nor is big business as comfortable with Hillary Clinton’s Democratic Party as it was with her husband’s, and with good reason. The party’s new left-leaning populism sees large firms as a principal source of the ills of working- and middle-class Americans. A Democratic victory in November would guarantee moves to rein in the financial sector, heighten scrutiny of mergers and acquisitions, and put the squeeze on corporations that shift jobs and profits overseas. [Emphasis added]

We have two points.  First, does this sound anything like the policies supported by herself?   She is against fracking!  She is not anti-big business.  She is anti-business.  Big business will be comfortable with her because she will protect them from competitors both foreign and domestic.  More nimble businesses, some having big capitalizations, will be very disappointed with Herself.  She is also about income inequality, finding the perfect Gini coefficient.  Big businesses probably support increasing the minimum wage because it hurts their competitors but they don’t support limits on compensation at the high end because there is always a talent shortage at the that end of the distribution.

Point two is consider the statement itself.  According to Wikipedia, Galston worked presidential campaigns for both Mondale and Gore.  Surely he knows that left leaning populism is at least 16 years old and really much older with the Democrats.  Rein in the financial sector is a wonderful term of art.  They are [something] and they need to brought back under control.  What is that something?  Successful?  Profitable? Helpful?

Then there is the shifting of jobs and profits overseas.  The last part, profits, is the important one.  The Democrats need lots of tax revenue to keep the machine running.  A superior policy would be to fix the tax code starting eliminating the tax on world-wide income and followed up by reducing the corporate tax rate.  Instead the US will continue to give incentives for inversions and such and then be outraged when corporations react rationally to the incentives they were given.

In short, it is difficult to sugar-coat the policies advocated by Herself.  Galston makes a mighty try but it is easy to see through it.


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