A few years ago, when I first learned that economic history shows that the economy has fared far better under Democratic Presidents, I was stumped. It went against everything I ‘knew’ about politics (in this case, that Democrats were tax-and-spend liberals who wanted to punish success and redistribute the rewards of said success and Republicans stood for responsibility and were far better at growing the economy).
Looking back now with a far better handle on economic policy, I see why this notion is so prevalent. Democrats are accused of very tangible activities: imposing higher taxes and regulations. It’s easy to see an increased tax rate or point to a regulation which, at face value, appears to serve no purpose other than to hamper business. What’s not tangible is an economy with increased demand due to a strong infrastructure and rules than ensure fair play that everyone abides by. The stronger economy is simply assumed to exist on their own and democratic policies receive little recognition. Sure, every business owner wants lower taxes. But low taxes are hardly an asset in a business environment where there is little/no profit to enjoy those low taxes on.
Economics: Democratic and Republican by Fact and Myth