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Plenty of nails. Where’s the McCain "hammer"?
Posted by: McQ on Monday, October 13, 2008

As I mentioned below, this ridiculous tax program of Obama's is a nail McCain needs to be hammering incessantly. There a plenty of avenues of attack.

And he's got some expertise backing him up if he' ll just use it:
We are equally concerned with his proposals to increase tax rates on labor income and investment. His dividend and capital gains tax increases would reduce investment and cut into the savings of millions of Americans. His proposals to increase income and payroll tax rates would discourage the formation and expansion of small businesses and reduce employment and take-home pay, as would his mandates on firms to provide expensive health insurance.

After hearing such economic criticism of his proposals, Barack Obama has apparently suggested to some people that he might postpone his tax increases, perhaps to 2010. But it is a mistake to think that postponing such tax increases would prevent their harmful effect on the economy today. The prospect of such tax rate increases in 2010 is already a drag on the economy. Businesses considering whether to hire workers today and expand their operations have time horizons longer than a year or two, so the prospect of higher taxes starting in 2009 or 2010 reduces hiring and investment in 2008.
The "we" above are 320 economists (including Nobel Prize winners Gary Becker, James Buchanan, Robert Mundell, Edward Prescott, and Vernon Smith) who agree the Obama tax proposals are job and economy killers.

Anyone - have you heard that brought up by McCain? It's on his freakin' website for heaven sake.
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Previous Comments to this Post 

Well, Glassnost thinks it’s great!!

Written By: capt joe
URL: http://
Course he does, he probably figures he’s got some deduction that will prevent him from doing the paying more thing.

Or, maybe he’s a Biden Patriot and really believes it IS better to pay more taxes.
We may surprise ourselves and end up having to vote Glassy QandO Patriot of the year for his willingness to pay extra taxes.

But my experience has been people who think more taxes are okay are generally getting out of paying the ’average’ for their actual income in the first place.
I don’t mind that part, but I do mind them happily volunteering ME to make up the difference they don’t cover themselves.
Written By: looker
URL: http://
Second hand conjecture had a link to this:

FDR’s policies prolonged Depression by 7 years, UCLA economists calculate
Written By: Don
URL: http://
Written By: Neo
URL: http://
There are three problems:

1. McCain is by inclination a statist idiot. The difference between him and The Annointed One on the economy (and on many other things, for that matter) is merely one of degree, not kind.

2. More broadly, much of our political class and population have got the idea that the economy is something that the government can and should regulate (i.e. control). Especially when the economy is in crisis as it is now, politicians feel the heat to DO SOMETHING, or at least appear to be. McCain is no different.

3. If McCain challenges The Annointed One on his economic plan, he’ll expose the fact that he really doesn’t know what to do, either, and I assure you that The Annointed One will get his own 320 economists (doubtless including Nobel laureate Paul Krugman) to shoot McCain’s plan full of holes on every nightly news program from now until election day.

McCain apparently is hoping that either (A) the media will dissect The Annointed One’s plan, exposing it for the semi-communist redistribution of wealth that it is; or (B) the American people are smart enough to see the plan as a disaster waiting to happen. In both cases, I think he is naive in the extreme.
Written By: docjim505
URL: http://
Funny that when Gibson presses Obama on why, he gives this answer
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.

So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?

OBAMA: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.
so he is not interested in increasing tax revenues but in punishing successful members of society.

Written By: capt joe
URL: http://

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