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In my imperfect understanding of US politics I tend to infer that Democrats are left of centre and favour higher taxes, more government control, social services etc, whilst Republicans are right of centre and favour lower taxes, pro-business legislation, less government control, "help yourself" social system etc.
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Out of date. Recent behaviour:
Republicans: Pro-social control.
Democrats: Pro-political correctness.
Democrats: Pro-affermative action.
Economically, both Democrats and Republicans are quite close. They both are pro-pork, pro-business, and effectively pro-free-trade, and pro-China engagement.
Most companies simply donate to both parties, and donate more to the party in power. I would guess if a party didn't toe the business line in legislation they would reduce spending on that party.
Democrats: Pro-balanced budget
Republicans: Pro-cutting taxes
Republicans: Pro-military spending
Republicans have discovered that cutting social programs can be seen negatively. By cutting revenue and increasing military expendatures, they can put the squeeze on, and justify social program cuts in the future because "we can't afford them, look at the debt!"
Republicans: Pro-unilateralism
Democrats: Pro-multilateralism.
Democrats use and are restricted by international institutions.
Republicans view international institutions as uncomfortable straitjackets, infringing on American soverienty.