I'm Running to Save Capitalism - Hickenlooper WSJ op-ed

[question everything]

American capitalism is at risk. Dramatic income inequality has driven voters to support influential leaders in both political parties who advocate changes to our economic system that would ultimately destroy capitalism. Some on the right argue for an increasingly deregulated market, while the far left calls for massive government growth and even socialism.

Neither approach recognizes the realities of our situation. Capitalism is the only economic system that can support a strong middle class, a growing economy, and innovative entrepreneurs leading global technological advancements. Yet for too many Americans, capitalism simply isn’t working. Even with recent employment gains, the real average wage will only buy you about as much as it did in the mid-1970s. Meanwhile, the cost of living has continued to rise, leading more Americans to take on credit card debt. Forty percent of Americans in 2017 didn’t have enough savings to cover a $400 medical emergency or car repair, according to the Federal Reserve.

(snip)

First, it has to make obtaining necessary skills affordable. For too many Americans, getting the training they need to pull themselves up by their bootstraps is cost-prohibitive. More than 65% of Americans over 25 don’t have four-year degrees, and a high-school diploma is no longer enough. As president, I would make community college free for those who can’t afford it and expand apprenticeships and skills training programs dramatically. Next, the government has to expand and extend the existing earned-income tax credit to millions more working Americans, and it has to raise the hourly minimum wage to $15 and permanently index it to the regional cost of living so that it automatically rises as prices do. To revitalize capitalism, the government has to ensure that hard work pays.

It also has to protect the heart of capitalism—competition—by strengthening antitrust enforcement. Industries from hardware stores to cellphone carriers are dominated by three or four megaplayers. The government needs to strengthen the Federal Trade Commission by restoring the Clayton Antitrust Act to its original focus on whether a merger hurts competition—not only whether it will cause a rise in consumer prices. The U.S. health-care system also needs to be reformed to provide universal coverage, reduce costs and establish portability, so that when you change jobs you can take your insurance with you. Today, too many would-be entrepreneurs are deterred from pursuing their startup dreams or new opportunities, because it could mean giving up their health-care coverage. I reject the idea we can improve health care by turning it entirely over to the government. More than 150 million Americans have private coverage through their employers, and the majority of people are satisfied with the coverage they have. It would be a fierce and needless battle to take that away from them. Under my plan, if you want to keep your private coverage, you can; but if you don’t have coverage, or if you desire coverage from a public option, we’ll make that available and affordable by allowing you to buy into a plan like Medicare.

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https://www.wsj.com/articles/im-running-to-save-capitalism-11557090143 (paid subscription, but the governor may have it on its website)

[VarryOn]

1. I like his message...

But it's not one to win the primary.

[crazytown]

2. Biden has the Center lane.

No sale.

[Honeycombe8]

3. The title was a turnoff, but I liked much of what he says there.

I agree with a lot of what he says. To my surprise. He's a former Gov (2 term) of CO. He's interesting. But in this field with so many, I don't see how any of these unknowns get much traction.

Having to have and raise so much money to run has ruined politics in this country. We should have had a great lineup of unique and experienced and qualified people, without having to have the known money-getters. The ones who can get the money so keep running and keep losing.

[YOHABLO]

4. You can not have universal coverage unless everyone is paying in univerally; even the 1%.

[NYMinute]

5. Looks like he is not a socialist

(like most people)

Bravo!