What exactly do republicans believe in, and what are their views on this economy?

[Soul&Spirit]

Republicans are also known as the Right. Republicans emphasize the role of free market decision making in fostering economic prosperity, in other words capitalism. This allows anyone to start their own business. Many Republicans consider the income tax system to be inherently inefficient and oppose graduated tax rates, which they believe are unfairly targeted at those who create jobs and wealth. They believe private spending is usually more efficient than government spending. On the other hand, democrats believe in "redistributing" the wealth among the poor, and let the government have control over the economy.

Most Republicans agree there should be a "safety net" to assist the less fortunate; however, they tend to believe the private sector is more effective in helping the poor than government is; as a result, Republicans support giving government grants to faith-based and other private charitable organizations to supplant welfare spending.

The party opposes a single-payer health care system, believing such a system constitutes socialized medicine and is in favor of a personal or employer-based system of insurance, supplemented by Medicare for the elderly and Medicaid, which covers approximately 40% of the poor.

On the other hand, the Democratic party has historically favored farmers, laborers, labor unions, and religious and ethnic minorities; it has opposed unregulated business and finance, and favored progressive income taxes. Which is better known as socialism (Hugo Chavez, Fidel Castro are examples of socialists) In recent decades, the party has adopted a centrist economic and more socially progressive and social democratic agenda.