The controversy now (as it has ever really been) is how best to bring deficits down while growing rather than crippling the economy. Do tax cuts for the wealthy grow the economy or do they only benefit those with large incomes and investment returns? Do progressive taxes grow the economy or do they merely redistribute wealth to the poor? Both sides argue the wrong answer will cripple the economy. Both sides accuse the other of wishful thinking. Historic evidence and independent analysis currently favor the Democrats, but I wouldn't go so far as to say they are conclusive when it comes to the long-term. Maybe it's justifiable for Republicans to stick to their guts. After all, when the evidence is incomplete, it is reasonable to disagree and rely on value intuition. Republicans want to err on the side of independence; Democrats want to err on the side of cooperation. Going too far to either extreme would probably have negative consequences.

I don't agree with Romney on the 47%. In my view, we have long been well over on the side of independence, while the rest of the world averages on the side of cooperation. Some of them probably go too far that other way, but I think it certainly wouldn't hurt us to be closer to the average than we are now.