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Individual responsibility versus social responsibility
Liberals want social responsibility. Conservatives want individual responsibility. As long as there is opportunity, Conservatives have a stronger argument.
Regarding the economy, one of the basic philosophical differences between the Liberals and Conservatives concerns responsibility. Conservatives favor individual responsibility, while Liberals want social responsibility.
Liberals believe that society must provide all citizens with a minimum standard of living. All citizens have a right to life, liberty and the pursuit of happiness. That includes food, shelter, clothing, health care and other services. Even if a citizen cannot afford to buy the product or service, society has an obligation to provide these things to everyone.
To administer this there has to be a large role for government. To pay for this, higher rates of taxation must be imposed. The most equitable way to tax would have those who earned the most income pay the most taxes.
The result is trillions of dollars of income are transferred annually from those who have earned it to those who, for whatever reason, haven’t. This includes programs like Social Security, Medicare, Medicaid, Food Stamps, Welfare and others.