Tax cut in the context of "Moderate Party"

Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century liberalism up until the Great Depression and rise of Keynesianism in the 20th century. Historically, economic liberalism arose in response to feudalism and mercantilism.

Economic liberalism is associated with markets and private ownership of capital assets. Economic liberals tend to oppose government intervention and protectionism in the market economy when it inhibits free trade and competition, but tend to support government intervention where it protects property rights, opens new markets or funds market growth, and resolves market failures. They also tend to oppose cartels, monopolies, financialization of the economy, rent-seeking behaviour and unproductive classes reliant on rent, assets or state-granted privileges. An economy that is managed according to these precepts may be described as a liberal economy or operating under liberal capitalism. Economic liberals commonly adhere to a political and economic philosophy that advocates a restrained fiscal policy and a balanced budget through measures such as low taxes, reduced government spending, and minimized government debt. Free trade, deregulation, tax cuts, privatization, labour market flexibility, and opposition to trade unions are also common positions.

In American political theory, fiscal conservatism or economic conservatism is a political and economic philosophy regarding fiscal policy and fiscal responsibility with an ideological basis in capitalism, individualism, limited government, and laissez-faire economics. Fiscal conservatives advocate tax cuts, reduced government spending, free markets, deregulation, privatization, free trade, and minimal government debt. Fiscal conservatism follows the same philosophical outlook as classical liberalism. This concept is derived from economic liberalism and later neoliberalism.

The term has its origins in the era of the American New Deal during the 1930s as a result of the policies initiated by modern liberals, when many classical liberals started calling themselves conservatives as they did not wish to be identified with what was being called liberalism in the United States. In the United States, the term liberalism has become associated with the welfare state and expanded regulatory policies created as a result of the New Deal and its offshoots from the 1930s onwards.

The Libertarian Party (LP) is a political party in the United States. It promotes civil liberties, non-interventionism, laissez-faire capitalism, and limiting the size and scope of government. The world's first explicitly libertarian party, it was conceived in August 1971 at meetings in the home of David Nolan in Westminster, Colorado, and was officially formed on December 11, 1971, in Colorado Springs. The organizers of the party drew inspiration from the works and ideas of the prominent Austrian school economist Murray Rothbard. The founding of the party was prompted in part due to concerns about the Nixon administration's wage and price controls, the Vietnam War, conscription, and the introduction of fiat money.

The party generally supports "personal liberty" and fiscal conservatism, as compared to the Democratic Party's modern liberalism and progressivism and the Republican Party's social conservatism and right-wing populism. Gary Johnson, the party's presidential nominee in 2012 and 2016, claims that the Libertarian Party is more socially liberal than Democrats, and more fiscally conservative than Republicans. Its fiscal policy positions include lowering taxes and abolishing the Internal Revenue Service (IRS), decreasing the national debt, allowing people to opt out of Social Security, and eliminating the welfare state, in part by utilizing private charities. Its social policy positions include ending the prohibition of illegal drugs, advocating criminal justice reform, supporting same-sex marriage, ending capital punishment, and supporting the right to keep and bear arms.

The centre-right coalition (Italian: coalizione di centro-destra) is a political alliance of political parties in Italy active under several forms and names since 1994, when Silvio Berlusconi entered politics and formed the Forza Italia party. It has mostly competed with the centre-left coalition. It is composed of right-leaning parties in the Italian political arena, which generally advocate tax reduction and oppose immigration, and in some cases are eurosceptic. The centre-right coalition has ruled the country for more than twelve years between 1994 and today.

In the 1994 Italian general election, under the leadership of Berlusconi, the centre-right ran with two coalitions, the Pole of Freedoms in Northern Italy and Tuscany (mainly Forza Italia and the Northern League), and the Pole of Good Government (mainly Forza Italia and National Alliance) in Central Italy and Southern Italy. In the 1996 Italian general election, after the Northern League had left in late 1994, the centre-right coalition took the name of Pole for Freedoms. The Northern League returned in 2000, and the coalition was re-formed as the House of Freedoms; this lasted until 2008.