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I thought this was a good read on US News & World Report Magazine featuring the chief Economic Advisors to all 3 candidates in the prez race and talking about what they think about their plans for the economy.
Austan Goolsbee for Barack Obama
Gary Gensler for Hillary Clinton
Kevin Hassett for John McCain
This is an interesting read and I got a few points out of this:
1) Barack chooses a plan that is pretty much known to have no effect in stimulating the economy but makes people "feel" better for a short period of time.
2) Hilliary chooses a plan that makes the poor wealthier with entitlements (and you know how I feel about entitlements) and rewards the irresponsible who are going to default on their mortgages (i.e. more entitlements). But it doesn't stop there, she wants to give more entitlments in energy subsidies. It sounds to me like she wants to buy your votes with entitlements. Who is paying for these entitlements? The middle-class and responsible home owners... yeah, pretty stupid... big time bailouts...
3) McCain is focused on reducing corporate taxes to stimulate the economy because it seemed to work before... anyone see the major problem here? We know that the government increases its spending ever year from inflation, earmarks, and corruption with corporate busineses. If we were to cut corporate taxes, who will pay for the increased shortfall? Taxpayers....
It seems NONE of these candidates have any idea how to help people. They know how to help businesses but NOT people and this is what caused the downturn in the first place... safe to say, our political candidates are idiots..
I love these stimulus plans, give money to these guys, cut taxes for those guys, write checks and spend it on Nike's. I'm gonna take the crazy route and just keep asking what Saudi prince they're gonna yank all of this money out of, cause we sure as heck don't have it.
Anyone recall the Guns and Butter of the 70's. It's baaaaack, vote Carter!
This is an interesting read and I got a few points out of this:
1) Barack chooses a plan that is pretty much known to have no effect in stimulating the economy but makes people "feel" better for a short period of time.
2) Hilliary chooses a plan that makes the poor wealthier with entitlements (and you know how I feel about entitlements) and rewards the irresponsible who are going to default on their mortgages (i.e. more entitlements). But it doesn't stop there, she wants to give more entitlments in energy subsidies. It sounds to me like she wants to buy your votes with entitlements. Who is paying for these entitlements? The middle-class and responsible home owners... yeah, pretty stupid... big time bailouts...
3) McCain is focused on reducing corporate taxes to stimulate the economy because it seemed to work before... anyone see the major problem here? We know that the government increases its spending ever year from inflation, earmarks, and corruption with corporate busineses. If we were to cut corporate taxes, who will pay for the increased shortfall? Taxpayers....
Point three could work only if it is accompanied by higher interest rates - worthwhile investments need to overcome hurdles -, and, if in some fair way, perhaps through tax credits, basic manufacturing can be stimulated: it will do no good to use low taxes and low interest rates to allocate resources to unproductive construction and other such enterprises.
It may need to be reasonably accompanied by re-training programs, that's probably the one point in the Clinton plan that makes any economic sense.
All these deadbeat home-debtors have to stop pushing paper at mortgage companies and such and get back to productive work in factories, making things that hardworking people who save actually need and can afford, like it used to be: instead of being a drain on the economy because of wild ambitions to achieve a life of idleness through some pipedream real estate wealth, they can go back to real, productive work, thus generating real income and paying taxes, like most decent people do.
Last edited by bale002; 03-25-2008 at 08:59 AM..
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