The United States before we moved away from American Capitalism in 2001. When the Bush Administration decided that the wealthy basically shouldn’t have to pay any taxes. With their Tax Cuts and Loopholes and that they shouldn’t be regulated at all. Had an economy that was based on yes Economic Liberty. The ability for people to go out and make as much money as their skills and production would allow. Without being Highly Taxed, even High Earners based on what they would be paying in taxes in Canada or Europe. Where you could get yourself a good education, so you can be as Self Sufficient as possible. Another beauty of American Capitalism and for the people who fell through the cracks. There would be a Safety Net to help them back up. So they can become Self Sufficient, that was built around on Financial Assistance. Job Training and Job Placement.
Liberal Economics is based around yes Economic Liberty, which is what all aspects of Liberalism. Is built around Individual Liberty but thats not the same. As no rules and regulations whatsoever, that people can’t abuse each other in the economy. Thats what’s called “Cowboy Economics”, where there’s essentially no taxes or regulations for High Earners. And the rest of the country basically becomes dependent on the people with the most. Liberal Economics is based around Economic Liberty for individuals. Just as long as they don’t abuse others with what they are doing. And that their taxes are low by American Standards. But that they still have to pay their fair share of taxes. That we have a Tax System, that encourages Economic Growth and Self Independence. But that we all pay our fair share of taxes.
What President Obama I believe is doing, is trying to get America back to Liberal Economics. Past the days of Neoconservative “Cowboy Economics” and trying to prevent America. From moving towards Progressive Economics. Where we would give so much power and revenue to the Federal Government. To take care of us, instead of having the Individual Liberty to take care of ourselves. And Progressive Democrats understand this, which is why they are disappointed with him. Because they thought they were getting a Progressive Democrat or a Democratic Socialist. But what they got instead was a Liberal Democrat or Moderate Liberal.