Presidential campaigns are a kind of national referendum on the incumbent, his policies, and the general direction of the country.
But the 2024 election is shaping up as something far less elevating. It's not just that the signs currently point toward a rematch of the 2020 election. As profoundly troubling as that prospect is, this election seems to be about something even worse: which variety of populism will reign over the executive branch.
One might have thought that Team Trump has cornered the populist market, with its stated preferences for high tariffs, its strong anti-liberalism, and its litany of grievances against a shadowy elite.
But Team Biden wants in on the populism trend, too. It's already embraced the previous Trump administration tariffs, and doubled-down on the blowout Trump spending spree.
But according to the Washington Post, this just isn't enough for Bidens team of deep thinkers. Item one: soak “the rich” the shore-up Social Security. The reason? Donald Trump says he won't allow any changes to the program:
…some advisers to Biden's team believe pushing to bolster the program's finances could help highlight the contrast between Democrats and Republicans on economic policy, even though such a plan would have no chance of passing Congress. But the plan would require Biden to expand his proposed tax increases, although they would not affect people earning under $400,000 per year, the people said.
Not reform Social Security – like means testing benefits, or raising the retirement age. Just pouring more money into it, and hope all goes well.
To be fair, the tax hike is one likely outcome to maintain Social Security over the long term. But those tax increases will have to affect every wage earner – not just those elusive rich people the left is obsessed with taxing for this, that, and the other state function.
But that's just the beginning:
Biden's advisers have preliminarily eyed three key policy initiatives — reining in prescription drug prices; taxing large corporations and billionaires; and an aggressive attack on corporate price-gouging — as particularly fertile opportunities to attack Trump.
In other words, Team Biden intends to incinerate a section full or populist straw men in hopes of “giving voters a reason to keep him in office.”
Next up: Mr. Biden will deliver an updated version of William Jennings Bryan's “cross of gold speech.” Instead of railing against the monied goldbugs on the East Coast, Biden can shake his fist at…well-heeled Democratic donors. In doing so, we'll have brought politics full circle – right back to the 1890s.
Which was also a time when a former president challenged an incumbent president. And the incumbent lost.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
