The second leg of Conservatism that is in need of explanation is fiscal conservatism. The idea of fiscal conservatism and the reputations of those politicians who claim the title was severely damaged by the profligate spending during the George W. Bush administration, 2001 – 2009. During this time the GOP controlled the White House, the House of Representatives, and the Senate, which meant that they controlled how much the government spent and where they spent the money. This time period did real damage to the Republican Party because they abandoned their principles when it comes to good stewardship of the taxpayers' money. The principles of fiscal conservatism are very easy to explain and very simple to implement. Best of all, they work to improve the lives of all Americans because these principles allow everyone to enjoy the economic prosperity that flourishes when government is not placing tremendous burdens on free enterprise through regulation, not discouraging investment through high tax rates, and ensuring that the federal government does not spend more than what is brought in to the Treasury.

Regulations placed on businesses are considered by some to be the most infuriating aspect of owning a business. There are thousands and thousands of regulations that business owners must comply with for fear of being shut down by local, state, or federal agencies. These regulations have massive price tags too. Researchers James Gattuso and Diane Katz of the Heritage Foundation have noted that in the Obama administration's first three years there have been 106 new “major federal regulations” at a cost of $46 billion, three times the rate during the first three years of George W. Bush's administration. Some federal regulations that you may not know about include the sale of raw milk or having to wait on government authorities to free whales caught up in fishing nets as opposed to just releasing the whale on your own. And there are many more regulations currently being finalized and implemented due to bills such as the Dodd – Frank banking bill or the Affordable Care Act more prominently known as Obamacare. The bottom line is that big businesses who incur these regulations pass the cost on to consumers, and small businesses slow the growth of their enterprise, if not go out of business all together. No one is talking about doing away with making sure that human fingers do not end up in ground beef at meat packing plants, but requiring businesses to ensure that US labor laws are posted on their premises is a bridge too far.

Ensuring low tax rates are another principle of fiscal conservatism. The principle behind low tax rates is not a bone being thrown to “the rich”. Low tax rates encompasses more than just the percentage of income sent to the federal Treasury each year. There is also the subtle coercion of the tax code that manipulates people to do that which Washington DC desires you do but cannot in any other fashion force you to do it. Tax rates and tax credits—items that you write off to maximize your return—are currently the sole mechanism used to encourage you to purchase items like solar panels, hybrid or electric vehicles, and soon, thanks to our beloved Supreme Court, health insurance. These things may be items that some people desire, in which case they are more than welcome to voice their desire through the market place, but why should one tax paying citizen be given any special treatment by the federal government for purchasing these types of items over an individual who chose not to? Why are items like the number of children, mortgages on homes, “green” windows on a house, or interest on student loans tax write offs? People like Grover Norquist—by all means no real friend to Conservatism or the United States—claims that doing away with these types of write offs increases the tax burden on the middle class. Well if the rates were lower, or more preferably a single, flat rate, then the dollar amount paid to DC would even out. An added bonus is the aspect of increased productivity through investment (capital gains) or more hours worked (income).

The yen to lower tax rates' yang is balanced budgets. The Left has made serious inroads in the war on taxes since the Reagan administration's huge success thanks to the Bush administration's irresponsible, profligate spending. The notion that the amount of debt added by the Bush administration was due to lowering tax rates is laughable when you consider the amount of revenue that was brought into the Treasury in 2001 compared to 2009. Spending is the reason for debt, and when a policy of tax cuts is enacted at the same time that the Treasury is used to carry out some fantasy of being able to create a permanent GOP majority by being Democrat Light (just one calorie!), the ability to attack tax cuts as the culprit will gain some ground with the electorate. Balanced budgets create a huge incentive for business stability and positive activity because there is not going to be an excess of paper money in the private sector that wouldn't otherwise be there and the worth of the paper money will maintain its strength. Though the US has not necessarily faced an actual increase in inflation due to price increases, the power of the dollar has weakened greatly and with it the ability to make the dollar last longer in terms of purchasing. Balanced budgets are a major factor in creating a robust private sector economy.

Fiscal Conservatives have manifested themselves in the GOP recently thanks to the Tea Party members who swept into offices all across the US during the 2010 midterm elections, but their numbers in Washington are few. Their minds and hearts are in the right place because staring at a $16 trillion national debt cannot be good for the nation's economy, aside from whatever private sector attacks the Obama administration may mount. Telling the American people that they know what is best for their own finances is not just lip service to maintain power in DC and committee chairmanships in Congress. It is a real philosophy and a cornerstone to the Conservative movement.

Robert McReynolds works as a government contractor at Ft. Belvoir, VA as an intelligence analyst. I spent five years in the Navy and was stationed at NSA and on board the USS Bulkeley (DDG-84). I am currently completing a Masters degree in International Relations at the Catholic University of America. He can be .(JavaScript must be enabled to view this email address).


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