what economic system would be best for me?

Question

i don't know much about economics, frankly i don't really understand it.

I am a social conservative, born-again Christian, anti-illegal immigrant and pro-military. But i am lower-middle class. alot of what i have heard about the republicans economic views is that the favor the upper classes.

so what view should i embrace as a conservative and supporter of our president but also as someone who is lower middle class ?

Answer 1

Your interesting and diverse background would make a

Centrally-Planned Market Economy

the most appealing. Think Germany without red light districts. An economic system that benefits you most would be one that:
1) Abhors corruption and vice, and emphasizes social justice (appealing to your born-againness)
2) Holds to strict enforcement of labor markets and tightens down on leaks
(appealing to your anti-illegal immigrant mentality)
3) Favors a public standing military
(appeals to your pro-military stance)
4) Offers some social networks for the improvement of the economic condition of lower income persons
(appeals to your need as lower middle class)

This is effectively the U.S. economic system (if we were truly free market, there'd be private insurance instead of government safety nets, private military, etc.) with a few tweaks, namely:

a) A rigid employment system
b) "Blue Laws" barring vice industries nationwide
c) An expanded welfare system
d) A progressive tax structure (we already have) that is progressive in the effective tax, not just the tax liability (in other words, the rich still pay a larger portion of their income)

Answer 2

There is a difference between an economic system and a political party. We only have two viable parties here in the U.S. unless you want to throw your vote away. I would say you lean more toward the Republican side. If you are truly a social conservative and want your Christian rights upheld, they are the party to make it possible. As far as helping the poor. The democrat solution is to throw more money at it and continue the inefficiency of big government programs which promote continued dependence on the government. Social welfare gains more votes, so they do this. The Republicans are more in favor of giving people the money they need to get educated and take care of themselves and stop counting on big government to solve every ones problems. You decide.

Answer 3

This is tough.
How risk averse are you?
If you are someone who wants to be in control of your life and take risks and on average be better off with high highs and low lows then you would favor a freer economy (libertarian)

If on the other hand you like having stability even if it means that you are on average worse off with more bureacracies making decisions in your life and making sure you don't make stupid decisions then go democrat or republican.

Either way you need to look at each candidate. I would say that Clinton offered more economic freedom than Bush and that Reagan offered more economic freedom than Bush or Carter

Good news:

The bottom 50% pay almost no taxes
In a year most people who are poor get out of poverty
Other trends among the poor (over the last 30 years)
house ownership is up
the size of houses is up
ownership of TV's is up
Car ownership is up
Yada Yada

Ways to avoid long term poverty
1. Graduate high school
2. Don't get pregnant
3. Wait to get married
4. Don't do drugs

Answer 4

the simple fact is that both republican and democratic politicians favor the rich. just as voting records go, it appears republicans favor the rich a wee bit more, because the democrats have historically passed more legislation to favor or boost the economic situation of the downtrodden.

welfare, social security, the "great plan" were all spearheaded by democrats.

however - i suggest base your political support not on party affiliation but by the principles and issues each politician stands for. check incumbents voting records - make sure they accurately represent what YOU believe. forego stereotypes, support the candidate that most closely represents you.

Answer 5

Reaganomics-lower taxes and smaller government. Raised incomes Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years; it experienced a loss of almost $1,500 in the post-Reagan years.

Interest rates, inflation, and unemployment fell faster under Reagan than they did immediately before or after his presidency.

Answer 6

Read "economics in one lession" by Henry Hazlitt,
then read "the wealth of nations" by Adam Smith