But the fact is that we are once again, as in the days of the early republic and not in the heyday of the Progressives and the New Dealers, a republic of property owners. Most Americans have accumulated—or will, during the course of their working years, accumulate— significant amounts of wealth. And that is why, I believe, American voters seem to be rejecting the policies of the Obama Democrats. Those policies, rooted in the Progressive and New Deal tradition, are designed to encourage a culture of dependence. It is the “soft despotism” of which Tocqueville warned us 175 years ago. The American people, the property-owning majority, even in this time of economic distress, seem to be embracing instead a culture of independence, a culture as old as the republic itself.