John McCain “won” my first post in this series. Today’s post takes a look at where he and Barack Obama stand when it comes to the economy.
McCain has never seemed to grasp basic economics, which would seem to make him weak on the topic. Yet Obama is such a complete dunce when it comes to the economy that McCain looks brilliant by comparison.
Obama wants to raise taxes during hard times, even though history shows that lowering taxes is the way to turn things around.
As previously discussed in my “Obama’s Lies” series, he plans to raise taxes on small businesses. This is a recipe for layoffs and for putting companies out of business. Because innovation has always been the cornerstone of America’s economy and most innovation comes from small business rather than big business, Obama’s plan could have devastating long-term consequences for our economy, over and above the near-term harm it is sure to inflict on workers.
Though neither he nor his media allies will ever say the word, Marxism is exactly what Obama wants to establish. He has openly said he wants to use taxes to redistribute private resources, though of course he uses the populist phrase “spread the wealth around.”
When one interviewer pointed out that tax cuts have always led to greater increases in government revenue than have resulted from tax hikes – and suggested that because of this, tax cuts rather than tax hikes are the best way for government to obtain revenue for Obama to “spread around” – Obama responded by saying that didn’t matter because “the real issue is fairness.” Clearly, he is more interested in punishing high-earners than he is in helping low-earners improve their lot.
Obama’s lust for raising taxes does not stop at the income tax. He also wants to raise the capital gains tax, which would lower the return on people’s investments and thus create a disincentive for people to invest. How come nobody in the MSM has bothered to suggest that the recent plummets in the stock market might result from investors trying to get out of the market before Obama raises the rate, but finding that nobody wants to buy for that same reason, which inevitably leads to falling stock prices because of the imbalance between supply and demand?
And to top it all off, despite the fact that just about everybody believes Fannie Mae and Freddie Mac are one of the main reasons, if not the main reason, for the current turmoil in our real estate markets, Obama uses Fannie Mae’s long-time CEO Franklin Raines as an economic adviser.
So McCain wins on the economy, and after two posts in this series he leads Obama by a score of 2-0.
McCain has never seemed to grasp basic economics, which would seem to make him weak on the topic. Yet Obama is such a complete dunce when it comes to the economy that McCain looks brilliant by comparison.
Obama wants to raise taxes during hard times, even though history shows that lowering taxes is the way to turn things around.
As previously discussed in my “Obama’s Lies” series, he plans to raise taxes on small businesses. This is a recipe for layoffs and for putting companies out of business. Because innovation has always been the cornerstone of America’s economy and most innovation comes from small business rather than big business, Obama’s plan could have devastating long-term consequences for our economy, over and above the near-term harm it is sure to inflict on workers.
Though neither he nor his media allies will ever say the word, Marxism is exactly what Obama wants to establish. He has openly said he wants to use taxes to redistribute private resources, though of course he uses the populist phrase “spread the wealth around.”
When one interviewer pointed out that tax cuts have always led to greater increases in government revenue than have resulted from tax hikes – and suggested that because of this, tax cuts rather than tax hikes are the best way for government to obtain revenue for Obama to “spread around” – Obama responded by saying that didn’t matter because “the real issue is fairness.” Clearly, he is more interested in punishing high-earners than he is in helping low-earners improve their lot.
Obama’s lust for raising taxes does not stop at the income tax. He also wants to raise the capital gains tax, which would lower the return on people’s investments and thus create a disincentive for people to invest. How come nobody in the MSM has bothered to suggest that the recent plummets in the stock market might result from investors trying to get out of the market before Obama raises the rate, but finding that nobody wants to buy for that same reason, which inevitably leads to falling stock prices because of the imbalance between supply and demand?
And to top it all off, despite the fact that just about everybody believes Fannie Mae and Freddie Mac are one of the main reasons, if not the main reason, for the current turmoil in our real estate markets, Obama uses Fannie Mae’s long-time CEO Franklin Raines as an economic adviser.
So McCain wins on the economy, and after two posts in this series he leads Obama by a score of 2-0.
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