Capital Corner: Tea Time

Jim Brandenburg, CPA, MST Shareholder - Tax   email | bio 
May 2010

Alice in Wonderland made a return to the big screen this year. Even if you haven't seen the movie, you might recall from the book that during one part of the story Alice attended an unusual tea party. Similarly, during this past year a political tea party emerged that could, in many aspects, also be viewed as a little unusual. The tea party movement has shaken the political landscape across this nation.

An independent political bent is not uncommon in our country. Many people have abandoned candidates of both major political parties to seek something unique - a new face with a different outlook. In years past, Teddy Roosevelt and "Battling" Bob Lafollette of Wisconsin both displayed independent messages. In recent presidential campaigns, John Anderson, Ross Perot and Ralph Nader ran as independents, and while none of them won, each had an impact.

Today's tea party movement, however, appears different from prior independent parties. The current tea party movement was hatched just over a year ago, but its growth is remarkable if not unparalleled. All areas of the country have seen tea party activity and members. In addition, it has attracted members from the democratic and republican parties, men and women, and blue collar and white collar workers. It has tried to keep its focus on one main theme: reduce the role of government and control government spending and taxes.

The question is: With all the momentum gained by the tea party, what political impact will it have on the 2010 elections, current legislation and even the upcoming 2012 presidential campaign? One of the unique aspects of the tea party movement is that it will likely have a voice in many political races this year without necessarily offering up its own candidates. Both democrats and republicans are a little unsure how to deal with the tea party and whether it may help or hinder them at the local and national levels. Some democrats have tried to reach out to tea party members, while others have attempted to discredit the movement by labeling them as radicals and fringe elements. Republicans, on the other hand, may feel they align closer to the tea party than democrats. However, some elections could be splintered if their candidates don't embrace the tea party's goals.

There seems to be a consensus that the tea party movement is a political force to be dealt with, but the actual impact it will have this year remains to be seen. Perhaps we can all relate to Alice when she exclaimed, "Curiouser and curiouser!"