Monday, August 25, 2008

You Call That a Plan?

So much for being above negative politics. Politico reported that Obama had some harsh words for John McCain at a barbecue in a local park in Eau Claire, Wisconsin yesterday after attending a local church, showing that it's back to politics-as-usual (which I'm not necessarily against, I'm just telling the guy “I told you so”).

To a group of 300 supporters, he said:

"If we can spend $10-12 billion a month in Iraq, we sure as hell can pay $10-12 billion right here in the United States of America to put people back to work."

He also said that he's the candidate for the middle class, "the teachers and nurses and the cops and firefighters." McCain, he said, "doesn't really have an economic plan, and everybody sort of knows it."

Did Obama have a few too many beers at this bbq? It's one thing to disagree with your opponent's plan, but he's starting to sound like the kids who ran against me in student council elections. And maybe he should take a look at McCain's detailed economic policies.

As for Obama's vision, the numbers say far more than any turn of phrase: he's planning on spending $800 billion, and that's going to hurt middle-class citizens the most. Why? Because that money has to come from somewhere, and it will be drained out of an economy that is already far from robust. And when the economy goes south, the jobs of middle-class Americans go with it. Ultimately, the middle class will pay for that extra spending in higher taxes, because Obama just won’t be able to squeeze that much money from “the rich.” Obama’s tax plan would reduce the incentives for the most productive Americans to work; the total combined marginal tax rate on additional labor earnings (or small business income) would rise from 44.6% to 62.8%. Obama’s plan amounts to a cut of one-third in the amount that these people keep from their earnings, after taxes.

So what will the high-earners do? Work less and produce less taxable wealth. Either that, or find ways to shelter their income from taxes. In both cases, the bills for Obama’s return to big government will come due for the same middle-income wage-earners he claims to defend.

Did the crowd in Eau Claire get to hear that?

7 comments:

Smart-Cookie said...

Katie -

Amen! My favorite quote, "So what will the high-earners do? Work less and produce less taxable wealth. Either that, or find ways to shelter their income from taxes." That's the way I see it, too.

And thank you for linking the WSJ article, Obanomics is a Recipe for Recession. True that, too! I hope your readers will take the extra time to read that article in addition to yours. Excellent breakdown with helpful tables.

It truly is frightening that these analyses are not more widely reported in the press ... as far as I'm concerned, THAT is newsworthy, not Obama's skewed talking points. And it is also a very good reason to make sure we continue working very hard to ensure that McCain wins this election.

Thank you for providing another voice of reason.

suek said...

About that economy...

http://www.rustedsky.net/2008/08/it_was_the_best_of_times_it_wa.html

suek said...

Ok...I'm a computer idiot. Is there a way everybody but me knows to put in a live link? Usually I just right click and "copy link" and it shows up as a live link. Apparently that doesn't work here.

Can someone help me out here?

Katie said...

try shortening your URL through this site: http://tinyurl.com/

Smart-Cookie said...

Bloggers for John McCain -

Thank you for sharing the Ronald Reagan video. I came of age politically during the Reagan years.

I'm glad I did.

John McCain describes himself as a proud foot soldier of the Reagan Revolution.

Indeed he was.

Thank you for reminding us the similarities we face today.

McCain 08!

Ferny for McCain at Stanford said...

Ronald Reagan is the first US President I ever heard of. I am a kid of the eighties so my memories about Reagan are intimately related to my childhood and teens. Although I wasn't very familiar with his voice back then because in Spain he was always dubbed when he appeared on TV.

When he passed away 4 years it was a shock in many ways, only comparable to the passing of the pope John Paul II.

What I didn't realize during those years is how profound, and positive, the impact of Reagan's policies were meant to be. In this era of pervasive cele-bama is good to reflect on him; he was the true inspiring President; he not only talked about hope; he made the hope live for generations to come.

suek said...

Katie...
Thank you...that's a shortened link, but not a "live" link. A live link means that you can just click on it and go to the page. Some blogs just automatically do a live link when you put in an http address, and some don't. Without a live link, you have to copy and past the link into your url window.
By the way - I have a tinyurl button on my toolbar, but I don't usually use it any more because I've had people say they don't want to use it since they can't tell where it's going. A result of spammers and worse...