OPINION
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Tuesday, January 26, 2016
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Debating 2016: Taxes and the Economy Why NU students should vote for Democrats in the 2016 election ALEXI STOCKER
DAILY COLUMNIST
GRANT PAPASTEFAN DAILY COLUMNIST
There’s a notion among left-leaning Americans that the Republican Party is for the rich, while the Democratic Party is for the common and struggling people. It’s a concept that has been perpetuated by Democratic candidates and not adequately refuted by Republicans. But it simply is not true. Although many wealthy people have a lot of influence (too much) in both political parties, the GOP does a much better job of addressing poverty and promoting policies that benefit the middle class. This is one of the primary reasons I will vote
Graphic by Jerry Lee
A recent Harvard Public Opinion Project poll found that job creation was one of young voters’ top priorities, and it should be for Northwestern students too. Within the next four years, the majority of students currently enrolled at NU will be starting full-time work. Economic downturns like the one President Obama inherited in 2008 have prolonged consequences. The effects of the Great Recession on the first-time job market are only now wearing off. And the ability of current and future students to find fulfilling employment depends upon the continued strength of the U.S. economy, as well as a president and Congress committed to ensuring continued growth and stability. The current state of the U.S. economy is strong, thanks largely to Obama’s policy initiatives. Obama’s auto bailout was a success, he fended off Republican demands for spending cuts, preventing the austerity-induced disasters seen across much of the European Union, and he defended the Federal Reserve’s independence, enabling effective monetary policy. The much-dreaded “job-killing” consequences of tax increases on the wealthiest Americans never materialized. Sure, the recovery wasn’t perfect, but, given the political environment, Obama’s accomplishments are impressive. Going forward, we need a president, and representatives and senators, who will make the right choices for our country’s economy. Many NU students will be graduating with student loan debt. Recent studies have found that student loan debt is damaging the U.S. economy, preventing young college graduates from starting businesses and delaying purchases of homes and cars. The Democratic Party officially supports student loan reform, and both major presidential contenders – Hillary Clinton and Sen. Bernie Sanders – have proposals for eliminating student debt and tuition at public institutions, respectively. Student loan reform to free up young college graduates’ income for consumption and investment is crucial. Tax policy matters, too. All Republican contenders for the presidency want to further cut taxes for the wealthiest Americans, despite the enormous costs of such proposals — trillions of dollars over a decade — and strong evidence that tax cuts for the rich do
little, if anything, to stimulate the economy. The Democratic Party advocates for tax cuts, but only for the middle and working class, which stimulate the economy through increased consumer spending. The Democratic Party also aims to rein in Wall Street speculation, protecting our economy from another catastrophic crash like the one in 2008. Finally, the Affordable Care Act is an economic gift for NU students as they enter the working world. The ACA allows children to stay on their parents’ health insurance until they turn 26, and offers strong health insurance options for young adults without employer-provided insurance. Health insurance is key for preventing bankruptcy or financial hardship from unexpected medical costs. Democratic economic policies – from student loan reform to taxes and regula-
Why NU students should vote for Republicans in the 2016 election
tions – are not only better for the economy as a whole, they are especially beneficial for NU students as they set out into the working world. The choice is clear; vote Democratic in 2016, for economic stability and continued growth. Alexi Stocker is a Weinberg senior. He can be reached at alexistocker2016@u.northwestern.edu. If you would like to respond publicly to this column, send a Letter to the Editor to opinion@dailynorthwestern.com. The views expressed in this piece do not necessarily reflect the views of all staff members of The Daily Northwestern.
Republican, and hopefully I can convince you it is one of the reasons you should too. The primary tenet of Republican economic policy can best be described as assisted self-determination. The idea is that it is the individual’s responsibility to make for themselves, while it is the government’s responsibility to ensure that they have a fair and equal opportunity to do so. As highlighted on the GOP website, some key goals of Republican policy are “tax relief to grow the economy and
create jobs,” a balanced budget, and “more American jobs, higher wages and a better standard of living.” Republicans believe the only sustainable way to meet these goals is through an organic, economically sound process, rather than through an excessive amount of government intervention, an idea supported by the failure of central-planning and big government throughout history. Now that I’ve highlighted the fundamental principles of Republican economics, I’d like to dispel some rumors that may be keeping you from considering voting Republican. The first is the idea that Republican tax policies unfairly favor the wealthy. This notion is actually not true. If you look at current Republican candidates’ tax plans, many of them support substantial tax breaks for all income brackets. Additionally, the GOP platform highlights the need for a “tax system that is simple, transparent, flatter and fair,” recognizing that the current system is inaccessible for the average citizen. The second falsehood I must rectify is the claim that Republicans do not care about helping the poor. It was the Republican-controlled Congress of 1996 that passed the Welfare Reform Act, giving states greater flexibility in distributing welfare. In addition to supporting affordable housing and job training, Republicans believe charities and faith-based organizations should receive tax breaks in exchange for helping the poor and needy. Republican economic policy is the road to the future. Creating a self-sustaining economy is of the utmost importance. That said, Republicans do realize there will always be Americans in need of a boost or safety net. Founded on the principle that a fair playing field is enough to give anyone the opportunity to improve their economic condition, Republican economics benefit the most people in the most efficient way. Furthermore, Republicans recognize that giving the government the unfettered ability to spend money is destined for inefficiency and corruption. For these reasons, among many others, you should vote Republican. Grant Papastefan is a Bienen freshman. He can be contacted at grantpapastefan2019@u.northwestern. edu. If you would like to respond publicly to this column, send a Letter to the Editor to opinion@ dailynorthwestern.com. The views expressed in this piece do not necessarily reflect the views of all staff members of The Daily Northwestern.
The Daily Northwestern Volume 136, Issue 62 Editor in Chief Tyler Pager
Opinion Editor Tim Balk
Managing Editors Tori Latham Khadrice Rollins Alice Yin
Assistant Opinion Editor Matt Gates
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