Penny Lanes

Update 398 • Penny Lanes:  Econ. Positions
and Left/Center/Right Turns in Atlanta Debate

Today marks 52 years since the BBC informally banned the song “I Am the Walrus” by the Beatles for its sexually suggestive lyrics.  Paul was not impeached. But there was no such controversy about this week’s Democratic debate in Atlanta, where the debate about such items as trade and the wealth tax was not fully engaged. 

What new economic policy positions did the candidates unveil at the debate, meaning both first-impression positions on new turf and shifts in existing positions or terminology?  We delve into the key exchanges on Wednesday. 

Goo goo g’joob weekends, all…

Dana

————

This week, the ten qualifying Democratic 2020 presidential candidates took to the stage for the fifth debate this cycle. In Wednesday’s update, we previewed the candidates’ economic policy priorities. In this update, we review the key economic policy ideas debated, assessing their merits and political viability should one of these challengers find her or his way into the White House in 2020. 

Wealth Tax (Warren, Booker)

Sens. Cory Booker and Elizabeth Warren had a heated back-and-forth over the latter’s wealth tax proposal. The Warren proposal imposes an annual 2 percent levy on household net worth over $50 million, rising to 6 percent on each dollar of net worth over $1 billion. Her campaign estimates that the new tax will affect 75,000 American households and raise $3.75 trillion over ten years. 

Warren and Booker disagreed over whether the tax was unjustly punitive, with Booker suggesting that there were other ways the wealthy could pay their fair share, including raising the estate tax and taxing capital at the same rate as ordinary income. The disagreement over the wealth tax is an interesting one — is it a punitive tax (they are all punitive) to an unjust degree, aiming principally at reigning in excessive wealth, a revenue-raiser, or both? The Booker-Warren exchange suggests that the candidates agree on the principle of increasing taxes on wealthy Americans, but differ over the means by which this can be achieved. 

Warren argues that the estimated trillions in federal revenue that would be raised by the wealth tax could go toward funding a number of important social programs, such as universal child care, universal pre-K, and cancellation of student debt. Recently, she included her wealth tax proposal as a key pay-for in her Medicare-for-all plan. Assuming the wealth tax raises as much money as she claims it will — where will this money go? Wednesday’s debate left that question open. 

Economic Assistance (Yang, Sanders)

Several candidates addressed important social policies, some grounded in current legislation being considered on the Hill. Two prominent economic assistance policies debated on Wednesday night were paid family leave and affordable housing. 

  • Paid family leave: Andrew Yang said that only two countries in the world do not guarantee paid leave for new parents: the United States and Papua New Guinea and that prioritizing a paid family leave bill would be one of his first priorities in office. This Congress, both Republicans and Democrats have been working on paid family leave legislation. Other candidates on the stage, including Sens. Warren, Sanders, and Klobuchar, as well as Mayor Buttigieg, all support the Family and Medical Insurance Leave (FAMILY) Act, H.R. 1185/S. 463. The bill would guarantee 12 weeks of paid leave for new parents or to take care of a sick relative.  
  • Affordable housing: In addition to their wealth tax debate at the start of the evening, Sens. Warren and Booker compared housing plans. Sen. Warren asserted that her affordable housing bill, the American Housing and Economic Mobility Act (S. 787), would create 3.2 million new housing units across the country. The additional housing supply would reduce rents for lower- and middle-income families by ten percent and would create 1.5 million new jobs. Sen. Booker highlighted his HOME (Housing, Opportunity, Mobility, and Equity) Act (S. 3342), a bill that would provide a refundable tax credit for individuals paying over 30 percent of their monthly income on rent. 

Healthcare, Where? (Klobuchar, Biden, Buttigieg)

A priority issue separating moderate and progressive candidates is what to do about healthcare.  Sen. Klobuchar, Mayor Buttigieg and Vice President Biden are campaigning on improving upon the ACA. Their proposals include providing a public option, expanding Medicaid, and allowing the Center for Medicare Services to negotiate drug prices for Medicare recipients. Mayor Buttigieg focused on this distinction again on Wednesday highlighting the difference between his position and complete single-payer health care, describing his compromise as “Medicare for All who want it.” 

None of the other candidates challenged how Sens. Sanders and Warren would pay for the policy, a point of tension during other debates. The healthcare issue will likely remain one of the defining debates of this campaign, but its lack of attention during Wednesday’s debate allowed for more discussion on other important policy ideas.

The Farmer Dilemma (Buttigieg)

A Midwestern native, Mayor Buttigieg told an anecdote about tariffs affecting a farmer in Boone, Iowa. He described the farmer’s humiliation at having to accept a government handout in order to stay in business, claiming that recent hardship had prevented him from investing in much-needed conservation efforts. The Trump Administration has already spent $28 billion of taxpayer money on farm subsidies — more than double the $12 billion the Obama administration spent on the auto industry bailout in 2009. 

No other candidate brought up tariffs or agriculture subsidies on Wednesday, but the issue is important, especially in the politically-critical Midwestern states. Farmers may not be leaving Trump just yet, but they are being harmed by his policies. With rural America being such a large part of the president’s base, it is important for Democrats to get their messaging and solutions around this topic right if they have any chance to cut into Trump’s lead in Wisconsin, Michigan and Pennsylvania. 

Set the Date: December 19

The qualifying candidates will next share a national debate stage on Dec. 19 in Los Angeles. Six candidates have qualified so far, with more likely to qualify before the Dec. 12 deadline. The 2020 Democratic presidential candidate field will likely remain large for the balance of the year. Expect attention on California itself, which last year experienced population loss for the first time ever and feels about a continent away from the values and goals of the administration in Washington.  

61 thoughts on “Penny Lanes”

  1. It is perfect time to make a few plans for the long run and
    it is time to be happy. I have learn this post and if I could I wish to
    counsel you few interesting issues or tips.
    Maybe you can write subsequent articles relating to this article.
    I desire to learn even more issues about it! 0mniartist asmr

  2. Howdy, I think your web site may be having internet browser compatibility issues.

    Whenever I look at your web site in Safari, it looks fine but
    when opening in I.E., it has some overlapping issues.

    I just wanted to provide you with a quick heads up! Other than that, wonderful site!
    asmr 0mniartist

  3. This is the right webpage for anyone who hopes to find out about this topic.
    You realize so much its almost hard to argue with you (not that I really would want to…HaHa).
    You certainly put a brand new spin on a topic that has been discussed for
    ages. Great stuff, just excellent! asmr 0mniartist

  4. I am really impressed with your writing skills as well as with
    the layout on your blog. Is this a paid theme or did
    you modify it yourself? Anyway keep up the excellent quality
    writing, it is rare to see a nice blog like this one nowadays.
    0mniartist asmr

  5. Do you mind if I quote a few of your articles as long as I provide credit and sources back to your webpage?
    My blog site is in the very same niche as yours and my visitors would truly benefit from some of the information you provide here.
    Please let me know if this ok with you. Thank you! asmr
    0mniartist

  6. Undeniably imagine that which you stated. Your favourite justification seemed to be at the web the simplest thing
    to be mindful of. I say to you, I definitely get annoyed at the same time as
    other folks consider concerns that they just do not understand
    about. You managed to hit the nail upon the highest and outlined out the whole
    thing with no need side effect , people could take a
    signal. Will probably be back to get more. Thanks

  7. I do not even know how I ended up here, but I thought this post was good.
    I do not know who you are but definitely you are going to a
    famous blogger if you are not already 😉 Cheers!

    Here is my blog post: ace333 11

  8. Hi, i read your blog from time to time and i own a similar one and i was just wondering
    if you get a lot of spam responses? If so how do you reduce it, any plugin or anything
    you can recommend? I get so much lately it’s driving me insane so any support
    is very much appreciated.

    Also visit my page: game slot 3win8

  9. I am really inspired along with your writing talents and also with the
    layout in your blog. Is that this a paid topic or
    did you customize it your self? Anyway keep up the nice quality
    writing, it’s rare to peer a nice weblog like this
    one nowadays..

    Also visit my web-site :: pussy888 download link

  10. Excellent pieces. Keep writing such kind of info on your page.
    Im really impressed by your site.
    Hello there, You have done an excellent job. I’ll certainly
    digg it and individually suggest to my friends. I am sure they’ll
    be benefited from this site.

  11. I’ll immediately take hold of your rss feed as I can not to find your e-mail subscription link or newsletter service.
    Do you’ve any? Please let me know in order that I could subscribe.
    Thanks.

  12. fantastic points altogether, you just gained a emblem new reader.
    What would you suggest about your post that you just made
    some days in the past? Any sure?

  13. Hmm it seems like your site ate my first comment (it was extremely long) so I guess I’ll just sum it up what
    I submitted and say, I’m thoroughly enjoying your blog.

    I as well am an aspiring blog blogger but I’m still new to everything.
    Do you have any tips and hints for first-time blog writers?
    I’d certainly appreciate it.

  14. Hi there! Would you mind if I share your blog with my
    facebook group? There’s a lot of folks that I think would really
    appreciate your content. Please let me know.

    Thanks

  15. It’s very straightforward to find out any topic on web as compared to textbooks,
    as I found this paragraph at this web page.

  16. We are a group of volunteers and opening a brand new scheme in our community.
    Your web site offered us with helpful information to work
    on. You have done an impressive activity and our whole
    neighborhood will probably be thankful to you.

  17. It’s in point of fact a nice and useful piece of information.
    I am glad that you shared this helpful information with us.
    Please stay us informed like this. Thanks for sharing.

  18. We are a group of volunteers and opening a new scheme in our
    community. Your site offered us with valuable information to work on.
    You’ve done an impressive job and our whole community will be thankful to you.

  19. Hello There. I found your blog using msn. This is an extremely well written article.
    I’ll make sure to bookmark it and return to read more of your useful info.
    Thanks for the post. I’ll certainly return.

  20. scoliosis
    You’re so interesting! I do not think I’ve read through anything
    like that before. So great to find someone with a few unique thoughts on this subject matter.
    Really.. many thanks for starting this up. This website is one thing
    that is required on the internet, someone with a little originality!
    scoliosis

  21. scoliosis
    You could certainly see your skills within the article you write.

    The arena hopes for even more passionate writers such as you who aren’t afraid to mention how
    they believe. At all times follow your heart. scoliosis

  22. I am truly grateful to the holder of this site who has shared this fantastic article at at this place.

    Also visit my page … lpe88 slot (Reda)

  23. Its like you read my mind! You seem to know so much approximately
    this, like you wrote the guide in it or something. I believe that you just can do
    with some p.c. to pressure the message home a little bit, however other than that, that is excellent
    blog. A great read. I will certainly be back.

    Here is my site: king855 11 – pussy888sg.com

  24. obviously like your web-site however you have to test the spelling on several
    of your posts. Many of them are rife with spelling issues and I to find it very bothersome to tell the truth then again I
    will surely come again again.

    Here is my blog post – download love138 ios (Wilmer)

  25. Admiring the commitment you put into your blog and in depth
    information you provide. It’s awesome to come across a blog every once in a while that isn’t the same outdated rehashed material.
    Great read! I’ve bookmarked your site and I’m adding your RSS feeds to
    my Google account.

  26. Hey There. I discovered your blog the use of msn. This is an extremely smartly written article.
    I will be sure to bookmark it and return to read extra of your useful information. Thanks for
    the post. I will certainly comeback.

  27. I was extremely pleased to discover this great site. I want to to thank you for ones
    time for this fantastic read!! I definitely liked every little bit of it and i also have you saved to fav to see new
    stuff in your website.

  28. It’s remarkable to go to see this website and reading the
    views of all colleagues on the topic of this piece of writing,
    while I am also keen of getting know-how.

  29. Hello! I know this is kind of off topic but I was wondering if you knew where I
    could locate a captcha plugin for my comment form?

    I’m using the same blog platform as yours and I’m having trouble finding one?
    Thanks a lot!

  30. I was wondering if you ever thought of changing the layout of your site?

    Its very well written; I love what youve got to say. But maybe you could a little more in the way of
    content so people could connect with it better. Youve got
    an awful lot of text for only having one or two pictures.
    Maybe you could space it out better?

  31. First off I would like to say wonderful blog! I had a quick question which I’d like to ask if you don’t mind.
    I was curious to find out how you center yourself and clear
    your head prior to writing. I’ve had a hard time clearing my mind in getting my ideas out.
    I truly do take pleasure in writing but it just seems like the
    first 10 to 15 minutes are generally lost simply just trying to figure out how to begin.
    Any suggestions or hints? Appreciate it!

  32. Pingback: keto stuffed mushrooms

  33. Today, I went to the beach front with my children.
    I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.”
    She placed the shell to her ear and screamed. There was a hermit crab inside and it
    pinched her ear. She never wants to go back!
    LoL I know this is entirely off topic but I had to tell someone!

Leave a Reply to JavierPew

Your email address will not be published. Required fields are marked *