Tea Party Members
More than one-third or 37% of Tea Party members hold college degrees. Approximately 40% of them are evangelical Christians. Many are small business owners who must remain profitable despite narrow margins. They see taxes, regulations, and healthcare laws as direct threats to their livelihoods.
Although they consider themselves full members of the Republican Party, they want to return it to a purer form of conservatism. They feel threatened by the new demographic changes in America, symbolized by the election of President Barack Obama. They believe they are becoming a minority regarding their religion, values, and way of life.
These beliefs make many Tea Party members anti-immigration. For this reason, they support President Donald Trump’s immigration policies. This includes completing the construction of a wall on the southern border with Mexico. They also want to deport immigrants who came to the United States as children and are currently protected under the Deferred Action for Childhood Arrivals (DACA) program.
Tea Party Economic Platform
The Tea Party’s economic platform follows its belief that less government is better and that free markets are the best generators of jobs and economic growth.
Here are three key economic policies of the Tea Party:
Eliminate Deficit Spending and National Debt
During President Obama’s administration, the Tea Party was serious about curbing government spending. They did not oppose government spending during Trump’s administration.
They argued that out-of-control government spending intrudes on Americans’ lives. It also reduces the value of the dollar and leads to inflation. Tea Party members echoed Alexander Hamilton’s statement: “As to the necessity of borrowing in special emergencies, there can be no doubt. But it is equally clear that in order for a nation to borrow on good terms, it is necessary for the credit of the nation to be established.”
The party shut down the government in 2013 and nearly refused to raise the debt ceiling because they wanted to repeal the healthcare law. The Tea Party included cuts to healthcare, Social Security, and healthcare for the poor as part of the conversation.
The party also risked a government shutdown in 2011. They refused to approve the fiscal year 2011 budget in April until $80 billion was cut, having previously agreed to around $38 billion. However, the Congressional Budget Office report indicated that spending would only decrease by $352 million.
The Tea Party delayed the vote to raise the debt ceiling in August 2011 until $1.2 trillion in spending cuts over the next ten years was agreed upon in the Budget Control Act of 2011. As a result of a near-downgrade of the debt, S&P lowered the U.S. debt rating from AAA to AA+.
Eliminate Excessive Taxes
The party opposed the American Jobs Act in 2011. It planned to fund it by raising taxes on those earning over $200,000 and sought to close tax loopholes for oil companies and billionaires. Tea Party members argued that the top 10% of earners pay nearly 70% of taxes, while the bottom half of the population pays almost nothing.
Protect Free Markets
There is some debate over what this means to different Tea Party members. Some, like Americans for Prosperity, support free trade agreements, while others believe these agreements send jobs overseas.
Theory Behind Tea Party Policies
The Tea Party reflects the values of Andrew Jackson: self-reliance, individualism, loyalty, and courage. Its followers are distrustful of federal authority, which is why they are such enthusiastic supporters of the Second Amendment. They also oppose federal taxes and regulations that they believe harm small businesses and the entrepreneurial spirit that built America, making them anti-elite. They believe ordinary people are wiser than experts and that complex problems have simple solutions.
They emulate
Most members of the Tea Party credit the accomplishments of Reagan’s presidency and Reaganomics. Both are based on supply and demand economics, which suggest that tax cuts will stimulate enough demand to offset any loss in tax revenue. The Laffer Curve illustrates exactly at what point tax cuts will result in increased tax revenues, but Laffer cautioned that it all depends on how high taxes are. Laffer’s “forbidden zone” starts when the tax rate is 50%. Tax cuts may lead to slower economic growth by increasing debt if the rate is lower.
History of the Tea Party
The Tea Party derives its name from the 1773 protests in Boston, when colonists dumped tea into the harbor. They were protesting “taxation without representation” imposed by the British government on the colonies.
The modern Tea Party movement began in 2009. It opposed Obama’s economic stimulus package, which passed largely without Republican support. Many groups nationwide organized protests against the planned tax increases by Democrats on April 15, 2009. The “Tea Party movement” was ignited by rallies from August 28 to September 12, 2009, and then again from October 28 to November 12, 2009.
The party has since shifted more towards opposing the Affordable Care Act. It was passed in March 2010, again without Republican support.
How the Party Gained Power
The Tea Party swept into power during the 2010 midterm elections, where Republicans gained 60 seats in the House of Representatives. This created a Republican majority and a Republican Speaker of the House, John Boehner. Although the Republicans won six additional seats in the Senate, they did not achieve a majority.
This election strengthened the Republican party enough to negotiate an extension of Bush’s tax cuts for two more years. This means extending tax cuts for those earning $200,000 or more. Tea Party members say that these are primarily small business owners.
Tea Party Supporters
Some say that the Tea Party was started by David H. Koch, the head of the conservative group “Americans for Prosperity,” in coordination with another conservative group called “FreedomWorks.” American television commentator and writer Glenn Beck contributed to the “9 Principles and 12 Values” of the Tea Party in his “9/12” project. Fox News also supports coverage of the Tea Party. The national Tea Party movement, which was established in cooperation with former White House writer and Heritage Foundation policy analyst Michael Johns, is another significant supporter.
Sources
The Balance only uses high-quality sources, including peer-reviewed studies, to support the facts in our articles. Read our editorial process to learn more about how we ensure fact-checking and maintain the accuracy, reliability, and quality of our content.
Sources:
– CBS News. “Tea Party Supporters: Who They Are and What They Believe.”
– U.S. Citizenship and Immigration Services. “Consideration of Deferred Action for Childhood Arrivals (DACA).”
– National Archives. “Report Relative to a Provision for the Support of Public Credit.”
– Asheville Tea Party. “Tea Party Movement History and Platform.”
– ThinkProgress. “CBO: Budget Deal Cuts ‘Less Than 1 Percent’ of the $38.5 Billion Claimed.”
– House Committee on the Budget. “Summary of the Budget Control Act of 2011.”
– S&P Global. “Research Update: United States of America Long-Term Rating Lowered to ‘AA+’ on Political Risks and Rising Debt Burden; Outlook Negative.”
– Obama White House. “The American Jobs Act: Your Questions Answered.”
–
Tax Foundation. “Summary of the Latest Federal Income Tax Data, 2018 Update.”
– Mississippi Public Universities. “Tax Revenue Versus Tax Rates: A Discussion of the Laffer Curve.”
– The Tea Party Express. “Monthly Archives, September 2009.”
– United States Congress. “H.R.3590 – Patient Protection and Affordable Care Act.”
Source: https://www.thebalancemoney.com/tea-party-movement-economic-platform-3305571
Leave a Reply