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Fiscal conservatism (also known as economic liberalism) is a term used in the United States to refer to economic and political policy that advocates restraint of government taxation, government expenditures and deficits, and government debt. It does not automatically denote advocacy of free market economics as a whole, and is a distinct concept from that of neo-liberalism. This article deals with conservatism as a political philosophy. ...
The Politics series Politics Portal This box: Politics is the process by which groups of people make decisions. ...
Cultural conservatism is conservatism with respect to culture. ...
Liberal conservatism is a variant of conservatism that combines the classical conservative concern for established tradition, respect for authority and (sometimes) religious values with liberal ideas, especially on economic issues (see economic liberalism, which advocates free market capitalism). ...
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This article is about Neoconservatism in the United States, for neoconservatism in other regions, see Neoconservatism (disambiguation). ...
Paleoconservatism (sometimes shortened to paleo or paleocon when the context is clear) is an anti-communist and anti-authoritarian[1] right wing movement based primarily in the United States that stresses tradition, civil society and classical federalism, along with familial, religious, regional, national and Western identity. ...
Libertarianism is a political philosophy that holds that individuals should be allowed complete freedom of action as long as they do not infringe on the freedom of others. ...
This page deals with property as ownership rights. ...
The rule of law is the principle that governmental authority is legitimately exercised only in accordance with written, publicly disclosed laws adopted and enforced in accordance with established procedure. ...
Social order is a concept used in sociology, history and other social sciences. ...
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Many countries have political parties that are deemed to represent conservative, center-right, or Tory views which may be referred to informally as conservative parties even if not explicitly named so. ...
The International Democrat Union (IDU) is an international grouping of conservative, neoconservative and Christian democratic political parties. ...
The European Peoples Party (EPP) is the largest European political party. ...
The term neoliberalism is used to describe a political-economic philosophy that had major implications for government policies beginning in the 1970s – and increasingly prominent since 1980 – that de-emphasizes or rejects positive government intervention in the economy, focusing instead on achieving progress and even social justice by...
Fiscal conservatism in the United States A major cause of the American Revolution was "No Taxation without Representation." The Americans insisted that their historic rights as Britons entitled them to a voice in setting tax policies, which Britain denied. The issue was not the tax itself or its size, but approval by elected representatives. John Trumbulls Declaration of Independence, showing the five-man committee in charge of drafting the Declaration in 1776 as it presents its work to the Second Continental Congress The American Revolution refers to the period during the last half of the 18th century in which the Thirteen Colonies that...
Early United States The Democratic-Republican Party of Thomas Jefferson supported a weak central government and a more laissez-faire approach than that of Hamilton's rival party, the Federalists. They opposed Hamilton's plan to pay off the debts owed by the states for the expense of the American Revolution, because some of the debt was held by financiers and speculators (who did not deserve payment) rather than the original holders. Hamilton passed his legislation and set up taxes to pay the debts. Jefferson in particular strongly opposed having any national debt although he relented when the opportunity came in 1803 of purchasing Louisiana. Thomas Jefferson (13 April 1743 N.S.–4 July 1826) was the third President of the United States (1801–09), the principal author of the Declaration of Independence (1776), and one of the most influential Founding Fathers for his promotion of the ideals of Republicanism in the United States. ...
Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ...
Alexander Hamilton (January 11, 1755 or 1757–July 12, 1804) was an Army officer, lawyer, Founding Father, American politician, leading statesman, financier and political theorist. ...
The label Federalist refers to two major groups in the history of the United States of America: (1. ...
James Madison, James Monroe, John Quincy Adams were elected by the Democratic-Republican Party, but after the fiscal disasters of the War of 1812, they came to support most of the Federalist position, realizing the nation needed a central bank and a steady income flow from tariffs. James Madison (March 16, 1751 – June 28, 1836), an American politician and fourth President of the United States of America (1809–1817), was one of the most influential Founders of the United States. ...
James Monroe (April 28, 1758 – July 4, 1831) was the fifth President of the United States (1817-1825), and the fourth Virginian to hold the office. ...
John Quincy Adams (July 11, 1767 – February 23, 1848) was a diplomat, politician, and President of the United States (March 4, 1825 – March 4, 1829). ...
Combatants United States Great Britain Canada Bermuda Eastern Woodland Indians Commanders James Madison Henry Dearborn Jacob Brown Winfield Scott Andrew Jackson George Prevost Isaac Brock†Tecumseh†Strength •U.S. Regular Army: 35,800 •Rangers: 3,049 •Militia: 458,463* •US Navy & US Marines: (at start of war): •Frigates:6 •Other...
The mid-to-late 1800s In the mid-1800s, a new fiscal conservative political party emerged, the Republican Party. Unlike the modern fiscal conservatives, these fiscal conservatives were paleoconservative supporters of protectionism and tariffs, similar in some ways to today's Reform Party. The Republican Party is one of two major contemporary political parties in the United States of America, along with the Democratic Party. ...
Paleoconservatism (sometimes shortened to paleo or paleocon when the context is clear) is an anti-communist and anti-authoritarian[1] right wing movement based primarily in the United States that stresses tradition, civil society and classical federalism, along with familial, religious, regional, national and Western identity. ...
Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over...
A tariff is a tax placed on imported and/or exported goods, sometimes called a customs duty. ...
The Reform Party of the United States of America (abbreviated Reform Party USA or RPUSA) is a political party in the United States, founded by Ross Perot in 1995 who said Americans were disillusioned with the state of politics--as being corrupt and unable to deal with vital issues--and...
They were also generally supporters of big business and (internally) laissez-faire economics, although by 1890 they had been convinced into supporting Sherman Anti-Trust Act and the Interstate Commerce Commission following massive complaints. The Sherman Antitrust Act was the first government action to limit trusts (A combination of firms or corporations who agree not to lower prices below a certain rate for the purpose of reducing competition and controlling prices throughout a business or an industry). ...
The Interstate Commerce Commission (or ICC) was a regulatory body in the United States created by the Interstate Commerce Act of 1887, which was signed into law by President Grover Cleveland. ...
Early 20th century In the early 1900s, fiscal conservatives were often at odds with progressive President Theodore Roosevelt, particularly for his support of antitrust laws. Progressivism is a term that refers to a broad school of international social and political philosophies. ...
Theodore Roosevelt, Jr. ...
This article is about anti-competitive business behavior. ...
During the 1920s, President Calvin Coolidge's pro-business economic policy were credited for the successful period of economic growth known as the "Roaring Twenties." After the great crash of 1929, however, Coolidge's policies and Hoover's took the blame. Coolidge not only lowered taxes but also reduced the national debt from World War I. His actions, however, may have been due more to a sense of federalism than fiscal conservatism: Robert Sobel notes that "[a]s Governor of Massachusetts, Coolidge supported wages and hours legislation, opposed child labor, imposed economic controls during World War I, favored safety measures in factories, and even worker representation on corporate boards. Did he support these measures while president? No, because in the 1920s, such matters were considered the responsibilities of state and local governments." [1] John Calvin Coolidge Jr. ...
Robert Sobel in a promotional photo for his publisher. ...
New Deal During the 1930s Franklin Roosevelt's New Deal was opposed by many conservatives because it expanded the scope of the federal government, and regulated the economy. In general Roosevelt did not raise taxes above the high levels Hoover had set. Franklin Delano Roosevelt (January 30, 1882–April 12, 1945), often referred to as FDR, was the 32nd (1933–1945) President of the United States. ...
The New Deal was the title President Franklin D. Roosevelt gave to the series of programs initiated between 1933–1938 with the goal of relief, recovery and reform of the United States economy during the Great Depression. ...
Roosevelt's Treasury Secretary, Henry Morgenthau, Jr. believed in balanced budgets, stable currency, reduction of the national debt, and the need for more private investment. Morgenthau accepted Roosevelt’s double budget as legitimate–that is a balanced regular budget, and an “emergency” budget for agencies, like the WPA, PWA and CCC, that would be temporary until full recovery was at hand. He fought against the veterans’ bonus until Congress finally overrode Roosevelt’s veto and gave out $2.2 billion in 1936. Morgenthau's most notable achievement was the new Social Security program; he managed to reverse the proposals to fund it from general revenue and insisted it be funded by new taxes on employees. Morgenthau insisted on excluding farm workers and domestic servants from Social Security because workers outside industry would not be paying their way.[1] Henry Morgenthau Jr. ...
WPA is a three-letter abbreviation with multiple meanings: Washington Project for the Arts, an arts organization based in Washington, D.C. Walter Payton Award, in U.S. Division I-AA football War Powers Act, a U.S. federal law, also known as the Trading with the Enemy Act and...
PWA may stand for: Pirates With Attitude, a warez release group Public Works Administration, a New Deal program in 1930s under Harold Ickes Pacific Western Airlines Progressive Writers Association Person With AIDS PWA/UWA Hardcore Wrestling Philippine Web Awards Professional Windsurfers Association [1] Pagan Webcrafters Association [2] Portfolio of Water...
CCC workers on road construction, Camp Euclid, Ohio 1936 The Civilian Conservation Corps (CCC) was a work relief program for young men from unemployed families established on March 19, 1933 by President Franklin D. Roosevelt in his first hundred days. ...
Social Security in the United States is a social insurance program funded through dedicated payroll taxes called FICA (Federal Insurance Contributions Act). ...
In World War Two there was broad agreement for heavy taxes, with conservatives insisting that the income tax base be broadened to include the great majority, rather than the 10% who before 1942 paid all income taxes.
After 1945 fiscal conservatism was most prevalent among some Democratic Senators from the South, especially Harry F. Byrd, his son Harry F. Byrd, Jr., and Walter F. George.[2] [3] Harry Flood Byrd, Sr. ...
Harry Flood Byrd, Jr. ...
Walter Franklin George (January 29, 1878 – August 24, 1957) was an American politician from the state of Georgia. ...
The Reagan Era -
Fiscal Conservatism was rhetorically promoted during the presidency of Ronald Reagan (1981-1989). During his tenure, Reagan touted economic policies that became known as Reaganomics. Based on the theory of supply-side economics, Reagan cut income taxes, raised social security taxes, deregulated the economy, and instituted a tight monetary policy to stop inflation. Reagan favored reducing the size and scope of government (see limited government), proposing a balanced federal budget. Reaganomics (a portmanteau of Reagan and economics, coined by radio broadcaster Paul Harvey) is a term that has been used to both describe and decry free market advocacy economic policies of U.S. President Ronald Reagan, who served from 1981 to 1989 and economic policies perceived as similar. ...
Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was the 40th President of the United States (1981 – 1989) and the 33rd Governor of California (1967 – 1975). ...
Reaganomics (a portmanteau of Reagan and economics, coined by radio broadcaster Paul Harvey) is a term that has been used to both describe and decry free market advocacy economic policies of U.S. President Ronald Reagan, who served from 1981 to 1989 and economic policies perceived as similar. ...
Supply-side economics is a school of macroeconomic thought that argues that economic growth can be most effectively managed using incentives for people to produce (supply) goods and services, such as adjusting income tax and capital gains tax rates. ...
Limited government is most commonly government where its functions and powers are prescribed, limited, and restricted by law, usually in a written constitution. ...
However, by the end of Reagan's second term the national debt held by the public rose from 26% of Gross Domestic Product in 1980 to 41% in 1989, the highest level since 1963. By 1988, the debt totaled $2.6 trillion, due in part to both increased military spending at the end of the Cold War and increased domestic spending approved by the 99th and 100th Congress. The country owed more to foreigners than it was owed, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. [2] Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ...
This article or section does not cite any references or sources. ...
For other uses, see Cold War (disambiguation). ...
// Alabama Senators Howell T. Heflin (D) Jeremiah A. Denton Jr. ...
// Dates of Sessions January 3, 1987 to March 3, 1989 Major political events Bicentennial of the United States Constitution Major Legislation Officers Senate Majority leadership Minority leadership House of Representatives Members States Alabama Senators Howell T. Heflin (D) Richard C. Shelby (D) Representatives 1. ...
References - Barber, William J. From New Era to New Deal: Herbert Hoover, the economists, and American economic policy. Cambridge University Press. (1985)
- Beito, David. Taxpayers in revolt: Tax resistance during the Great Depression. University of North Carolina Press. (1989)
- Brownlee, W. Elliot. Federal taxation in America: A short history. Cambridge University Press. 1996.
- Kimmel, Lewis. Federal budget and fiscal policy, 1789-1958. Brookings Institution Press. 1959.
- Left, Mark. 1983. Taxing the "forgotten man": The politics of Social Security finance in the New Deal. Journal of American History 70 (September): 359-81. online in JSTOR
- Morgan, Iwan W. Deficit government: Taxing and spending in modern America. Ivan Dee. 1995.
- Sargent, James E. "Roosevelt's Economy Act: Fiscal conservatism and the early New Deal." Congressional Studies 7 (winter 1980): 33-51.
- Savage, James D. Balanced budgets & American politics. Cornell University Press. 1988.
- Herbert Stein. Presidential Economics, 3rd Edition: The Making of Economic Policy From Roosevelt to Clinton (1994)
- Julian E. Zelizer; "The Forgotten Legacy of the New Deal: Fiscal Conservatism and the Roosevelt Administration, 1933-1938." Presidential Studies Quarterly. 30#2. (2000). pp 331+. online
Notes - ^ Zelizer 2000
- ^ Sindler, Allan P. (1969). "Changing Politics in the South". Polity 2 (2): 228-236.
- ^ Jewell, Malcolm E. (1959). "Evaluating the Decline of Southern Internationalism Through Senatorial Roll Call Votes". Journal of Politics 21 (4): 624-646.
See also American conservatism is a constellation of political ideologies within the United States under the blanket heading of conservative. ...
Anarcho-capitalism refers to an anti-statist philosophy that embraces capitalism as one of its foundational principles. ...
This does not cite any references or sources. ...
It has been suggested that Definitions of capitalism be merged into this article or section. ...
Classical liberalism (also known as traditional liberalism[1] and laissez-faire liberalism[2]) is a doctrine stressing the importance of human rationality, individual property rights, natural rights, the protection of civil liberties, constitutional limitations of government, free markets, and individual freedom from restraint as exemplified in the writings of Adam...
This article deals with conservatism as a political philosophy. ...
This article or section does not cite any references or sources. ...
A free market is an idealized market, where all economic decisions and actions by individuals regarding transfer of money, goods, and services are voluntary, and are therefore devoid of coercion and theft (some definitions of coercion are inclusive of theft). Colloquially and loosely, a free market economy is an economy...
Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ...
This article does not adequately cite its references. ...
A market economy (also called free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system. ...
In civics, minarchism, sometimes called minimal statism or small government, is the view that the size, role and influence of government in a free society should be minimal — only large enough to protect the liberty and property of each individual. ...
This article is about Neoconservatism in the United States, for neoconservatism in other regions, see Neoconservatism (disambiguation). ...
This article or section does not cite its references or sources. ...
The term Reaganomics, a portmanteau of Reagan and economics, was used to describe, and decry, the economic policies of U.S. President Ronald Reagan during the 1980s. ...
It has been suggested that this article or section be merged into Left-Right politics. ...
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