President Biden’s agenda is the most radical of any president in history. The Wall Street Journal’s Dan Henninger has decided to call it what it is.
From his piece:
The market-led economic growth of the Kennedy, Reagan, Clinton (he signed a bill cutting the capital-gains rate to 20% from 28% in 1997) and Trump years is irrelevant to Mr. Biden’s ideas about a heretofore unseen economy that “benefits everyone.”
Instead, he is the economy. He will “create” new jobs and even new industries. This refers to his proposed billions in subsidies for manufacturing solar panels, wind turbines, electric vehicles and charging stations, and retrofitting homes and commercial real estate. By government order, current, carbon-intensive industries will disappear.
At a stroke, the Biden plan “lowers the cost” of daycare, child care, elder care, drugs, healthcare and education. All of this—identified without irony as “the cost of living”—is “paid for” by new taxes.
“State control of the means of production” means different things to different people, but I’d say this qualifies as socialism in America. Traditional Democrats wanted to “tame” the economy. Bidenism is replacing it.
Since the Democratic Party’s start nearly 200 years ago, socialism has passed through the party but never defined it. By the time the voting in Congress stops on Build Back Better, we’ll know whether from now on its members should be identified as D. or D-Soc.