The bottom line: If “socialism” were running in this election, it would probably lose, according to the polls. But voters aren’t picking an economic system — they’re picking a president and his policies.
It’s a bit ironic that the only two politicians who have shown any indication of understanding economics at the federal level are Bernie and Trump.
Note that anytime Bernie is asked “how will you pay for x, y, or z program” he rattles off a list of people and entities he would probably tax the bejesus out of in any event, simply because they make too much money and threaten our democracy. His continued loyalty to one of MMT’s leading proponents and spokespersons, Dr. Stephanie Kelton, suggests very strongly that he knows the question is loaded and meant to disarm anyone suggesting the government actually provides a benefit to the working class. He knows that government spending that benefits society and increases its productivity doesn’t require “paying for” in terms of tax money as long as real resources exist to accomplish the goal the money is deployed to accomplish.
Likewise, Trump has stated several times that most economic fears are bunk because we “make the money”. His handlers quickly shut him up for fear that his truthtelling might spread through the political realm of conservative politics, but he does know the basic lie of taxation and borrowing as funding sources for federal spending with a fiat currency. He appears to show no real concern for the massive deficits his budgets produce to shovel federal money to the top earners he has shown loyalty to. This isn’t a new thing for conservative Presidents or Congressional majorities. It’s almost like they don’t believe their own rhetoric unless Democrats are in charge of the purse strings.
Regardless of Trump’s actions post-election, the fact remains that he won the Presidency against a right-leaning centrist Democrat by staying slightly to her left on every issue except immigration. His promises were all made with vague rhetoric and innuendo, but the impression was communicated that he would be a different type of Republican that would champion the working class.
If Hillary didn’t have a well-known track record she could have countered his attacks much better, but all she could offer was more of the same neoliberal establishment policies that Obama had applied for eight years with little benefit to the average voter. Trump now has a record that makes it impossible for him to outflank a real progressive from the left, especially one as trusted as Bernie is. The contrast in perceived honesty alone should make the contest a no-brainer, as Trump has more than proven his proclivity to avoid the truth, even over insignificant details.
