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The Tea Party movement is a populist branch of conservative Republicans. It opposesgovernment spending, taxation, and regulation. Tea Party members believe that the federal government uses these measures to infringe on Americans' personal libertiesas outlined in the Constitution.

The middle-class makes up 65% of Tea Party members. This percentage is higher than the nations middle-class composition of 50%. More than a third or 37% are college graduates or have advanced education. Only 25% of the countrys population possesses a college or advanced degree. Almost half or 47% are members of the Christian right.Many of them are small business people, who must stay profitable despite narrow margins. Theyseetaxes,regulations, andObamacareas direct threats to their livelihood.

Although they consider themselves full members of the Republican Party, they want to move it back to a more pure form of conservatism. They feel threatened by thenew demographics in America. This was especially symbolized by President Barack Obama's election. They sense theyare becoming a minority regarding their religion, values, and way of life.

The Tea Party's economic platform follows its belief that less government is good. Thefree marketsare the best generator of jobs and economic growth. The Tea Party quotes former President Ronald Reagan, The governments view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

Here are the Tea Party's three primary economic policies:

Eliminate deficit spending and the national debt.During President Obama's term, the Tea Party was serious about reducing government spending. They have not opposed government spending during the Trump administration.

They argued that out-of-control government spending infiltrates the government into Americans' lives. It also devalues the dollar and invites inflation. Tea Party members quotedAlexander Hamilton, who said, As on the one hand, the necessity for borrowing in particular emergencies cannot be doubted, so on the other, it is equally evident that to be able to borrow upon good terms, it is essential that the credit of a nation should be well established.

In 2013, the Partyshut down the governmentand almost refused to raise thedebt ceiling. Why? It wanted to defund Obamacare. It included cuts to Medicare, Social Security, and Medicaid as part of the conversation.

In August 2011, the Tea Party delayed voting to raise thedebt ceilinguntil $2.2 trillion was cut from spending over the next 10 years in theBudget Control Act of 2011. As a result of a near default on the debt, the S&P lowered theU.S. debt rating from AAA to AA+.

Eliminate excessive taxation.In 2011 the Party opposed Obama'sAmerican Jobs Act. He plannedto fund it through tax increases to those making more than $200,000. He wanted to close tax loopholes for oil companies. Tea Party members argued that the top 10% of earners pay 70% of taxes, while the bottom 46% pay nothing.

Protect free markets.There is some dissension on what this means to various Tea Party members. Some, such as Americans for Prosperity, are forfree trade agreements. Others believethese agreements send jobs overseas.

The Tea Party reflects the values ofAndrew Jackson: self-reliance, individualism,loyalty, and courage. Followers are suspicious of federal power. That's why they are such avid supporters of theSecond Amendment. Therefore, they alsoopposefederal taxesand regulations that hurt small businesses and the entrepreneurial spirit that built America.That makes themanti-elitist. They believe ordinary people are wiser thantheexperts. They thinkseemingly complicated problems have simple solutions.

Most Tea Party members emulate the accomplishments of Reagan's presidency and Reaganomics.Both arebased on supply-side economics. It states that lower taxes will stimulate enoughdemand to replace any lost tax revenues. TheLaffer Curvedemonstrates precisely at which point lower taxes will result in higher tax revenues.But Laffer warnedthat it all depends on how high taxes are. Laffer's "Prohibitive Zone" starts when the tax rate is at 50%. If the rate is lower, then cutting taxes could slow economic growthby increasing the debt.

The Tea Party took its name from the 1773 protests in Boston, where colonists dumped tea into the harbor. They protested "taxation without representation," which the British government imposed on the colonies.

The modern-day Tea Party movement started in 2009. It opposedObama's economic stimulus package, which passed largely without Republican support. On April 15, 2009, many groups throughout the country held protests against Democrats' planned tax increases. The "Tea Party Express" commemorated the9/11 attackswith protest tours from August 28 to September 12, 2009, and then again from October 28 to November 12, 2009.

The party further solidified around opposition to the Affordable Care Act. It passed in March2010, again withoutRepublican support.

The Tea Party swept into power during the mid-term elections in 2010. Tea Party support gained 60 seats in the House of Representatives. That created a Republican majority and a Republican Speaker of the House, John Boehner. Although Republicans won an additional six seats in the Senate, they didn't capture the majority.

This election increased the Republican party's powerenough to negotiate the extension of the Bush tax cuts for two more years. Despite President Obama's objections, they included cuts to those earning $200,000 or more. Tea Party members say these are primarily small business owners.

Some say the Tea Party was started by David H. Koch, head of the conservative "Americans for Prosperity," in coordination with another conservative group, FreedomWorks. Fox TV commentator and author Glenn Beck contributed the "9 principles and 12 values" of the Tea Party in his "9/12 Project." Fox News is also a supporter of Tea Party coverage. The Nationwide Tea Party Coalition, co-founded by former White House speechwriter and Heritage Foundation policy analyst Michael Johns, is another important proponent.

See more here:
Tea Party Movement: Economic Platform, History