If Democrats Were Shrewd . . . - WSJ - 0 views
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As candidate and as president, Mr. Trump repeatedly claimed his tax reforms would not benefit the wealthy, and railed against big Wall Street banks and tech giants. Populist Democrats can help the president make good on his promises—and make Republicans shriek—by proposing a financial-transaction tax and a revenue tax on tech companies. They’d be following Europe’s lead. Democrats can force the issue by ending the carried-interest tax break, another of Mr. Trump’s campaign promises.
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That new revenue would reduce annual deficits and make a down payment on another Trump campaign promise: eliminating the nation’s debt in eight years. Contrasting themselves with supposed small-government congressional Republicans, who presided over a $779 billion budget deficit during the last fiscal year, Democrats can be the party of fiscal responsibility, expanding government while reducing the deficit. There is no law mandating they spend all the new revenue they raise
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Mr. Trump has repeatedly criticized Amazon, Facebook and Google, and House Democrats can assist the Justice Department in pursuing antitrust reviews of the largest technology companies. Just as withdrawing troops from Syria has angered traditional Republicans while pleasing Mr. Trump’s more isolationist populist base, a push for greater tech oversight would frustrate traditional Republicans’ deregulatory agenda.
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Populists in both parties share privacy concerns for U.S. citizens—not to mention what China can do with the data it gets from tech companies. Steve Bannon even suggested that users’ data should be controlled by a public trust.
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Why don’t House Democrats help him deliver his promised $1 trillion plan for roads, ports, transit, the grid and more? This time around, Democrats could eschew the Solyndras and other political pipe dreams, avoid making unrealistic “shovel ready” promises, and instead stick to locally vetted projects. These projects would also create well-paying construction jobs and help a broad array of communities and workers, including union members.
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They can succeed, however, in heightening the tension between Mr. Trump’s populist instincts and conservative orthodoxy, showing that populism does not have to be a uniquely Republican force in 2020. And don’t worry that these policies could cause more harm than benefit. House Democrats are unlikely to resist the temptations of impeachment and prioritize substance over style