We Hamiltonians disagree with the third group, the mainstream liberals, because their programs haven't worked out. Retraining programs for displaced workers have flopped. Tax code changes to reduce outsourcing are symbolic. Federal jobs programs aren't effective. Moreover, the high taxes you need to pay for these programs sap the economy. There's now a pile of evidence showing that higher taxes mean reduced working hours. In the face of Chinese and Indian competition, we don't need Americans working less.
This is new governing ideologysaves endorsed wrote Jonathan Chait