Fresh off a bruising loss in Florida, the Democratic playbook for the midterms appears in need of a major rewrite and the pro-business wing of the party is ready to draw up new plans. President Barack Obama in his budget once again floated a plan to raise taxes on Wall Street, but no one took it seriously. And just days later, the president was raising money at the home of one of the wealthiest private equity executives in New York. Mayor de Blasios hopes to increase taxes on the wealthiest got blown out by Wall Streets newest hero, New York Democratic Gov. Andrew Cuomo. And de Blasio is facing major heat from the rich over his opposition to charter schools.
The Democratic power elite now believe that appeals to raise the minimum wage and extend unemployment insurance are not enough to overcome Obamas deep unpopularity and frustration with the presidents signature health care law. They fear that unless Democrats shift footing to a more hopeful, growth-based message, the party could lose the Senate and drop double-digit seats in the House.
Reducing inequality is good, but its 50 times better to do it by lifting those up who are low than by tearing those down who are high, said Larry Summers, the former treasury secretary whose bid to become Fed chair got derailed by the more liberal wing of the Democratic Party. The politics of envy are the wrong politics in America. The better politics are the politics of inclusion where everyone shares in economic growth.
Democratic Rep. Jim Himes, whose Connecticut district includes many wealthy Wall Street executives, said the populism associated with de Blasio and Massachusetts Democratic Sen. Elizabeth Warren was never as dominant as the media suggested. All too often people forget that this is just one politician from Massachusetts and one from New York City and what they say is not going to dominate politics in Arkansas, or Florida or Texas or anywhere else, Himes said. Income distribution may be far from ideal, but people dont necessarily only want to hear about increased taxes on the wealthy.
The rich strike back - POLITICO.com
The Democratic power elite now believe that appeals to raise the minimum wage and extend unemployment insurance are not enough to overcome Obamas deep unpopularity and frustration with the presidents signature health care law. They fear that unless Democrats shift footing to a more hopeful, growth-based message, the party could lose the Senate and drop double-digit seats in the House.
Reducing inequality is good, but its 50 times better to do it by lifting those up who are low than by tearing those down who are high, said Larry Summers, the former treasury secretary whose bid to become Fed chair got derailed by the more liberal wing of the Democratic Party. The politics of envy are the wrong politics in America. The better politics are the politics of inclusion where everyone shares in economic growth.
Democratic Rep. Jim Himes, whose Connecticut district includes many wealthy Wall Street executives, said the populism associated with de Blasio and Massachusetts Democratic Sen. Elizabeth Warren was never as dominant as the media suggested. All too often people forget that this is just one politician from Massachusetts and one from New York City and what they say is not going to dominate politics in Arkansas, or Florida or Texas or anywhere else, Himes said. Income distribution may be far from ideal, but people dont necessarily only want to hear about increased taxes on the wealthy.
The rich strike back - POLITICO.com
