Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Wednesday, October 22, 2008

Rights Boy and Mr. Clean endorse Barak Obama

Probably the surprise decision of the day, at least in Rights Boy’s own head…

While I respect the Libertarian candidate Bob Barr, he’s no Ron Paul. The Libertarian platform is 100% right on about 70% of the issues. Some of the other stuff is sort of crazy.

It comes down to my personal litmus test issue of 2008 - foreign policy - coupled with the insane selection of Sarah Palin as McCain’s VP choice.

There are many things I like about Obama. It’s especially refreshing to see an eloquent, intelligent thinker actually willing to take the abuse to run for President.

But he’s a liberal Democrat to the core. Besides Bill Clinton, there hasn’t been a Democratic President since Jack Kennedy that understood supply side economics. He has proposed an additional nearly trillion dollars of domestic spending. That’s above the ongoing $12 Billion monthly for wars and the current misguided trillion dollar bailout of Wall Street. The basic problem with his economic policy is that there aren’t enough rich people to tax in that top 5% to pay for all this. What that means is that the middle class will make up the difference with hidden taxes – fees, licenses – OR we go further into debt, and further beholding to best friends like China.

The thing is, I can live with all that…. If we can actually spend our way out of misery, then Great! I don’t think it will work, but maybe it will. But if it doesn’t, the great thing about America is that you can get rid of the slugs eventually. Vote ‘em out.

But I want someone in charge of foreign policy that believes that peace is better than war, that diplomacy is a tool to use before a bomb, and doesn’t see a radical Islamist terrorist around every corner. I don’t get even a hint that McCain or Palin are against an ongoing war, with practically anybody. I want someone who can look over the horizon and see something besides “enemies.” I want someone that doesn’t think foreign policy experience comes from looking out your window in the morning, or being Mayor of Wasilla, Alaska (which provides NO public services. Did you know that?) I want someone who will be the President of the whole USA, not some condescending Hockey-mom-come-lately that thinks pro-America can only mean rural, religion, intolerant and safe from witches.

I believe there are alternatives to occupying Iraq for the next 100 years. McCain and Palin do not. I can’t stand the idea of another four years of “Iraq’s behind 9/11, eminent threat, mission accomplished, their oil will pay for the war, occupation for generations, bla, bla, bla” drumbeating. That’s exactly what we’ll get with a McCain administration.

I simply think there is a better chance with Obama to repair the foreign policy damage of the last 20 years, but particularly accelerated by the neocons in this last administration.

So in the end, I think more goodness is possible from an Obama presidency than McCain. I can live through Obama’s economics. I don’t think the government can take it all away from me fast enough in the next four or eight years. And if it doesn’t work, we’ll change direction once again.

But the thought of an ongoing forever war of choice is too much for me. We’ve already lost too many brave troops, and the thought of losing one of my own sons to this needless occupation is just too much. I can survive Obama’s economics better than I can survive that.

Obama 2008

Comments??

Thursday, June 26, 2008

Neither party reassures voters

Rights Boy’s good friend Mike Burgher was featured in this morning's From the Editor's Inbox on the Des Moines Register website. You can find his edited letter, along with a lively discussion from other readers, here. The unedited opinion follows.

It’s always interesting to add up and compare the potential cost of various programs proposed by the presidential candidates. It’s often very surprising, sometimes downright depressing.

Barak Obama gave an interview to the Wall Street Journal a couple of weeks ago outlining the Democratic economic platform. It must have been the worst news ever for Wall Street, small business, and even the middle class when you think it through. It included the expected “soak the rich” themes along with repealing Bush’s tax cuts.

Most economists estimate the cost of Obama’s proposals and promises - including $150 billion for green energy, $65B for expanded health insurance, $60B for infrastructure -to total $800 Billion and counting. He says it will be funded by repealing the tax cuts and increasing capital taxes.

The problem is Obama’s math doesn’t work. With everything else the same, repealing the cuts combined with his proposed tax increases won’t pay for his spending. Using his own model on who should pay more, one recent estimate showed his plan would result in up to a 40 percent personal income tax, a 52.2 percent combined income and payroll tax, a 28 percent capital-gains tax, a 40 percent dividends tax, and a 55 percent estate tax.

That’s not going to happen, and that means the middle class is going to get squeezed even further, with taxes disguised as usage fees, access fees, entrance fees, licenses and assessments.

Obama will also have to raise corporate and capital taxes which will styme business production, raise the cost of everything, and will directly affect your your compensation and take-home pay.

Now we look at the other side. What will McCain cost us? He would certainly cost less than Obama domestically, because McCain proposes very little, with almost no economic impact. He does have a new-found religion on global warming, but I don’t think even he knows what he’s proposing yet beyond $300M for new battery technology.

It’s McCain’s foreign policy that jumps out. Another 100 years in Iraq at current costs would be about $2.5 Trillion dollars and the loss of about 80,000 more brave troops.

And you wonder why so many people feel totally disenfranchised by both political parties.