February 26, 1997
Host intro: If you thought socialism was dead, you missed a recent series in the Philadelphia Inquirer. Commentator Pete du Pont of the National Center for Policy Analysis says the series, "A Nation in Search of Answers," only raises questions about its writers' grasp of economics.
The series paints America's challenges in Marxist hues of rich versus poor.
The cause? Exploitation, what else?
Raise tariffs, raise the federal income tax to 70 percent, give states incentives to raise their income taxes, abandon free trade, cutback skilled worker immigration, and kill expense deductions for companies that borrow to expand or create jobs.
In other words, create a government-run and -regulated fortress America, cut off from the world, expensive to live in, and discouraging of job creation.
Why worry about some bad economic journalism? Because it captures the mindset that could guide a second Clinton term.
Just look around:
The blustery Perot/Buchanan sympathizers in both parties are virulently protectionist.
NAFTA was opposed by 59 percent of congressional democrats.
Tax increases are always part of liberal platforms.
Fine-tuning the economy with price and wage manipulation is mothers milk to Democratic politicians.
And Bill Clinton has shown a tendency to believe the person who spoke to him last and loudest. This socialist revival could become the liberal blueprint of a direction-less second Clinton term.
Well, those are my ideas. And at the NCPA, we know ideas can change the world. I'm Pete du Pont, and I'll see you next week.
Host outro: On Saturday, who says the '80s were so bad? Not Pete du Pont. Find out why tomorrow.