Much separates populist Republicans from progressive Democrats, but they all favor state control.

Whatever debilitating brain parasite burrowed into the gray matter of American politics over the last decade-plus has resulted in some astonishing transformations. One of the biggest has been the reshaping of the once nominally pro-capitalist Republican party into a populist party hostile to free markets. Under President Donald Trump, the GOP increasingly favors the whims of the president and his cronies over the results of voluntary interactions among millions of buyers, producers, and sellers. Most recently, we see this in the form of Trump's announced intentions to ban some real estate investors from purchasing single-family homes and his proposed cap on credit card interest rates.

Trump Finds Common Economic Ground With ProgressivesTrump Finds Common Economic Ground With Progressives

"I am immediately taking steps to ban large institutional investors from buying more single-family homes, and I will be calling on Congress to codify it," the president posted last week on Truth Social.

Two days later, he announced that "effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%."

It's unlikely even at this late stage in the erosion of the legislative branch that the White House can enact either policy on its own. But the president can expect congressional support not just from loyalists, but from Democratic lawmakers. Like his supposed opponents, Trump defends planned interventions in the economy in the name of "affordability." For those of us who favor being left alone to make our own decisions in our personal and economic lives, there's nowhere near as much as we'd like to distinguish the current Republican administration from its progressive Democratic predecessor.

Making Life More Affordable—or NotMaking Life More Affordable—or Not

Socialism by Whatever NameSocialism by Whatever Name

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