McCain's fiscal agenda is either a Joke or a Fantasy. (Corporate Profits, NAFTA)
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Reading McCain's economic agenda and listening to his speech, it appears that the problem with the last eight years is that we haven't seen enough tax breaks for the wealthy, that economic royalism hasn't been pursued with sufficient vigor, and that the middle and working classes haven't been stiffed sufficiently.
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McCain wants to see Bush's tax relief and raise it some. McCain would slash the corporate-income-tax rate from 35 percent to 25 percent (because corporate profits as a percentage of GDP didn't spike enough this decade?), and he'd abolish the Alternative Minimum Tax, which would be a welcome move for many upper-middle-class taxpayers. "In all, his tax-cutting proposals could cost about $400 billion a year, according to estimates of the impact of different tax cuts by CBO and the McCain campaign," the Wall Street Journal reported. And how to make up for the lost revenues? Hmmm. McCain promises to cut earmarks; to eliminate waste, fraud, and abuse; and to reduce the projected growth of Medicare; but he won't provide many numbers. As the WSJ deadpanned: "The cost will make it difficult for him to achieve his goal of balancing the budget by the end of his first term." That's perhaps the understatement of the year. The 2009 budget calls for a deficit of $407 billion on projected receipts of $2.7 trillion*, as this table shows. Essentially, McCain wants to cut revenues by about 15 percent from current levels, with nothing close to that in spending reductions, in a time when, even after spending excess Social Security payroll taxes, the deficit is running at more than $400 billion. Here's some straight talk: McCain's fiscal program is either a joke or a fantasy.
In other words, his economic policy is basically a third term of George W Bush.
McCain's fiscal program is either a joke or a fantasy. - By Daniel Gross - Slate Magazine (http://www.slate.com/id/2187570/pagenum/all/#page_start - broken link)
In other words, his economic policy is basically a third term of George W Bush.
McCain's fiscal program is either a joke or a fantasy. - By Daniel Gross - Slate Magazine (http://www.slate.com/id/2187570/pagenum/all/#page_start - broken link)
It's easy to make up the difference.
Just print off fresh new bills and Helicopter Ben can dispurse as needed.
Then, when the dollar is worthless, just make it illegal to not accept dollars for transactions by penalty of jail or death, elect a propoganda minister to defend the dollar and have a Tony Robbins moment saying it'll come back if we all just "feel good" about it.
Just print off fresh new bills and Helicopter Ben can dispurse as needed.
Then, when the dollar is worthless, just make it illegal to not accept dollars for transactions by penalty of jail or death, elect a propoganda minister to defend the dollar and have a Tony Robbins moment saying it'll come back if we all just "feel good" about it.
Yeah, France tried to do it in the late 1700s. Execute those who would refuse their own currency, then implementing price/wage controls.\
Mar 14, 2008 Vive La France - the Road to Hyperinflation Peter Schiff 321gold . . . Inc s (http://www.321gold.com/editorials/schiff/schiff031408.html - broken link)
Net result -> hyperinflation.
If one thinks neo-bolshevists like McCain won't do it, you're wrong. Nixon was all about price and wage controls after he closed the gold window on the dollar.
Your dollar is only worth what the U.S. government says its worth... McCain can cut all those taxes BUT he HAS to cut spending very, very significantly... how? I don't know, he hasn't said yet... maybe he has a plan, maybe he doesn't... maybe his plan sucks for the average American (but necessary) and that's why he hasn't released details about it... Honestly, I don't like McCain... but he is only stating half of the solution... CUT TAXES... the other half? CUT SPENDING... I have yet to see anyone come up with a good plan... fiscal responsibility apparently is something that we lack in government for a long time... we can thank socialist liberals and neo-conservatives later...
I have yet to see anyone come up with a good plan... fiscal responsibility apparently is something that we lack in government for a long time... we can thank socialist liberals and neo-conservatives later...
Well, actually Barack Obama does have an idea on how to solve our fiscal problems. Its the same thing Bill Clinton did with the Congress in the late 1990s, and led to a huge surplus and a balanced budget.
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Reinstate PAYGO Rules: Obama believes that a critical step in restoring fiscal discipline is enforcing pay-as-you-go (PAYGO) budgeting rules which require new spending commitments or tax changes to be paid for by cuts to other programs or new revenue.
Bill Clinton did NOT have a huge surplus... he balanced the budget but only after making another 3 trillion dollar in debt... granted Bush and Reagan made the job harder for Bill Clinton by unbalancing the budget... don't forget Bill also did tons of bad things.. NAFTA, socialized health care, DMCA, etc etc... Obama says a lot of nice things for fiscal responsibility but so do all of the candidates... I would like to see some action to it if he goes into office... I hear too many lies before going into office and then once they are in, they put their agendas into priority instead of fixing the problems... we need president who fixes problems and not to follow agendas... I have to say though that between Obama and McCain... I like Obama better but then I do dislike both of them...
Well if his reliance on former U.S. Senator Phil Gramm is any indication, we're in for a very, very screwed up ride.
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