Monday, October 25, 2010

Daily Show: Eric Cantor & Jon Stewart Discuss Conservative v. Liberal Economics

In our democratic country, our economy is significantly impacted by what political party is in power. In this interview, Republican Whip Eric Cantor accuses Democrats of "maligning success" in their rhetoric against Wall Street, to which Stewart asks if they are maligning success or maligning rapaciousness, pointing out that robber barons were considered "successful." Cantor paints a picture of an America with "equality of opportunity" in which one can be successful if one works hard, no matter who their father was, what connections they had, or what school they could get into. But Cantor does not recognize this American Dream has become a myth. I feel Cantor's policies don't support this vision because he supports tax cuts for the rich that keep wealth concentrated in the hands of elites who inherit wealth, capitalize on connections with other elites, and use donations to get into top schools as a step toward a lucrative career. We do not have equality of opportunity in this country if those who inherit wealth do not do their part to ensure that kids without rich parents are also given the opportunity to attend quality schools and become successful if they work hard.

1 comment:

Ben Wallingford said...

Great video post - Stewart makes the point that capitalism has a major drawback in that it results in concentration of wealth. The corporations and big business themselves are certainly not going to redistribute their profits, so the government must play a role in income distribution. As both Stewart and Cantor mention, a "balance" between market principles and welfare principles is needed to create a sensible system, even though criticism from both ends of the spectrum (conservative vs. liberal economics) always polarizes and exaggerates the opponent's view.