Would that the newspaper were correct. However, we suspect that neither Charles Schumer nor Nancy Pelosi reads the Journal.
We extracted the following three paragraphs from today’s Journal editorial. They sum up what we have hoped for: a party more concerned with providing a decent living standard for American workers—and for their health and education—rather than with the business executive’s bottom line. People in business can take care of themselves; they always have. They don’t need an assist from the government. But the American worker does or he’ll soon be gone. Follow our subsequent blogs on this topic.
Elizabeth Warren and the Democratic left
Lead Editorial from The Wall Street Journal Dec. 18, 2017 [The bulk of the article berates the Democrats for not supporting the Republican tax reform.]
. . . Part of the explanation is ideological. The Democrats as a party moved sharply left during the Obama years—on economics nearly as much as on identity politics. They have made income inequality their main economic priority rather than growth, and the fact that the slow-growing Obama economy increased inequality hasn’t changed that obsession.
One result is that there isn’t a pro-business Democrat left in the Senate, except perhaps on energy policy in fossil-fuel states like West Virginia and North Dakota. Democrats are now the party of Thomas Piketty, the French economist who thinks tax rates should return to pre-Kennedy levels to reduce inequality.
Democratic economists who might have offered an alternative view have no choice but to go along if they ever want to serve in another Democratic administration. They all saw what Elizabeth Warren and the Democratic left did to block Larry Summers from getting the job of Federal Reserve Chairman. . . .
Thomas Piketty and Larry Summers—which man do you believe?