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McCain Ad Slams Obama Tax Plan as "Economic Disaster"

By Jonathan Weisman
Just a day after Sen. Barack Obama put the finishing touches on his tax plan, Sen. John McCain released a new attack ad this morning predicting "economic disaster" if that plan come to pass.

Combining the now familiar mockery of Obama's celebrity with the ongoing tax slam, the ad's announcer begins, "Celebrity? Yes. Ready to lead? No."

The ad then goes on to say Obama's tax plan "could break your family budget," raise prices at the gas pump, and is a "recipe for economic disaster."

"That's the real Obama," the announcer concludes.

Analysis: Obama's tax plan is now set. He would raise taxes on the top two income tax brackets back to where they were during the Clinton administration. The top bracket would increase to 39.6 percent from the current 35 percent. But for any family earning below $250,000 in adjusted gross income, income taxes would be unchanged.

For earners over $250,000, capital gains and dividend tax rates would rise to 20 percent from the present 15 percent -- leaving them well below where they were during the Clinton years. The dividends rate in particular would remain basically where President Bush wants it, taxed at the same rate as capital gains, not as ordinary income, as was customary before Bush. In 10 years, incomes over $250,000 would face a Social Security surtax of between 2 percent and 4 percent. Those earnings now are not taxed by Social Security.

Under Obama's plan, most working class families would receive a net tax cut, thanks to a rebate for payroll taxes of $500 for individuals and $1,000 for couples.

The ad asserts that the press warns the "taxman cometh," but that phrase comes from the conservative Wall Street Journal editorial page, which has never supported a tax increase. The "recipe for economic disaster" quote also comes from a conservative editorial, this one from the Las Vegas Review-Journal.

As noted yesterday by former Clinton Treasury secretary Larry Summers, Republicans also warned in 1993 that Bill Clinton's tax increases that year would steer a faltering economy into deep recession. Instead, the economy took off, leading to the longest sustained period of economic growth in modern U.S. history and the largest budget surpluses ever. Indeed, if Obama is to be faulted for anything, it is his failure to address the burgeoning budget deficit, which is now approaching a half trillion dollars. Obama's tax plan would be a net drain on the Treasury, not a net tax increase.

One of the ad's central points is that Obama's plans would increase gas prices by imposing a windfall profits tax on the oil industry. And there is a strong argument to be made there. Obama has lambasted McCain's proposed gas tax holiday, saying the oil companies would pocket the proceeds and leave prices at the pump unchanged. If so, it is hard to understand why he believes the oil companies would swallow a new windfall profits tax and not pass its cost on to consumers. Obama aides, for their part, argue that gasoline prices are set by demand, and that the price now is what the market will allow.

By Web Politics Editor  |  August 15, 2008; 9:59 AM ET
Categories:  Ad Watch , John McCain  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Straight Talk Express's Limited Engagement
Next: McCain's July Haul: $27 Million

Comments

We had a boom in the 1990s because of the lowered tax rates set by Reagan and by the new technologies fostered by the Internet.
Clinton had nothing to do with this.
And the economy started turning downward in the late 1990s as new start-up I-net companies failed due to competition. This is the market at work.

Posted by: Jennifer | August 21, 2008 5:37 PM | Report abuse

I consider eight years of George Bush and a $10 trillion national debt to be an economic disaster.

Posted by: hamishdad | August 17, 2008 1:46 PM | Report abuse

McCain admits he know very little about the economy. He can only repeat the policies of Bush who has run up the worst deficits since Ronald Reagan. McCain will be looking for other wars to get us into and will further drive our economy into the dirt. A weak dollar due to heavy debt drives up the price of oil and hurts everyone except Big Oil who will receive huge subsidies under McCain. He can barely answer a question in front of a live audience. McCain demonstrates over and over that he is not bright enough, not competent. He has become a complete tool of the Bushies and we can expect more of the same warmed over failed policies. He just doesn't have the smarts or imagination to do anything different. He can't even manage his own campaign with out the Cheney/Rove thugs - how can he be credible as a key player in a global economy?

Posted by: jefflz | August 17, 2008 1:16 PM | Report abuse

"We are all Georgians now". McCain is dying to start a war with Russia. Further proof he know nothing about nothing. McCain would love to have us fighting Russia-China-Iran. It's his wet dream. He is a war monger and cares NOTHING about the American people.

Posted by: Bill | August 17, 2008 12:32 PM | Report abuse

Rezko is NOTHING! Two words for anyone supporting McAncient. Keating Five.

Posted by: Bill | August 17, 2008 12:20 PM | Report abuse

The Democrats are always portrayed as Tax and spend Liberals, when in fact, It is the Republicans who spend our tax dollars like drunken sailors. Every study that has been done shows that Obama gives a tax break to the middle class, yet McCain still keeps shooting his mouth off. What didn't work for Bush will not work for McCain. Under Bush, we Americans have become hostages to big oil and funding a misguided. What are the real reasons for Georgia's attack on Ossettia? It doesn't matter what Bush says... Putin and Medvedev only listen to John McCain.... McCain and his buddy Misha are still shooting their mouths off. I wonder how many phone calls it took from McCain to convince Saakashvili to attack Ossettia and AbKazie ? How arrogant and irresponsible is Saakashvili ? Reminds me a lot of John McCain.

Posted by: Ron | August 17, 2008 12:17 PM | Report abuse

wow, I read a lot of half baked positions in these responses. First of all, it is CONGRESS that will decide many of the issues that you folks are talking about. My questions to you is, do you want a Democrat majority Congress that is not worried about a veto (with a Democrat President)? If yes, prepare for bigger federal government that may start implementing socialism-like policy (healthcare anyone?). At least a non-Democrat president motivates a majority Democrat Congress to consider the possibility of a veto during their policy-making sessions. (please note that I did not say Republican).

If anything, I would like to see more people worried about who is representing them in the House and Senate. I guarantee you that Congressmen (and women) have more of an effect on the issues raised here and on your quality of life than the president. Help yourselves by directing just as much attention (if not more) to those who represent you in Congress.

Posted by: common sense | August 17, 2008 12:14 PM | Report abuse

Obama supports criminals for his own gain.. Checkout how he helped his good buddy Tony Rezko...

Obama is high on hope, but low in proven solutions.

"...I'm reminded that the actions of those in power have enormous consequences -- a price that they themselves almost never have to pay."
- Barack Obama; The Audacity of Hope; p. 48


Consider this telling fragment from the Obama timeline, offered by David Freddoso in his new book, The Case Against Barack Obama:

July 31, 1995 - Tony Rezko makes his first political donation to Obama.

July 1995 - Obama seeks (and later receives) endorsement of radical New Party.

January 2, 1996 - Obama begins process of throwing all of his opponents off the ballot.

March 19, 1996 - Obama wins Democratic state Senate primary, unopposed.

January 14, 1997 - Tony Rezko, while claiming he cannot afford to turn on the heat in one of his slums, writes a $1,000 check to Barack Obama's campaign.

February, 1997 - Obama co-sponsors a bill that creates affordable local housing funds in order to subsidize private developers.

August 23, 2001 - Bill co-sponsored by Obama, giving special tax credits to donors to private developers of "affordable housing."

May 21, 2003 - Obama votes for the Affordable Housing Planning and Appeal Act, creating demand for at least 7,000 new "affordable housing" units and letting private developers circumvent local ordinances.

August 14, 2003 - Stuart Levine and Tony Rezko steer $50 million in teachers' retirement money to an investment firm and receive a $250,000 kickback from the "finder."

March 4, 2004 -Obama co-sponsors bill to move forward deadlines of developer-friendly housing bill.

June 15, 2005 - Obama and Tony Rezko close on adjacent properties in Hyde Park.

May 26, 2005 - Chicago Tribune profiles Tony Rezko, noting that he has been subpoenaed in a criminal investigation.

January 2006 - Obama purchases part of neighbor Tony Rezko's lot.


In his first position of any government power, Barack Obama, perfectly evidenced his own pronouncement:

"...the actions of those in power have enormous consequences -- a price that they themselves almost never have to pay."


Syrian-born Tony Rezko is now in prison, after having been convicted by a federal jury on 16 of 24 counts of corruption charges.

Cheating the taxpayers is serious business.

But while Tony Rezko languishes in a prison cell, Barack Obama seeks the Presidency.

And what of those lovely "affordable housing" units that Tony Rezko and his Illinois state Senate handmaiden, Barack Obama, paid for with taxpayer money?

They are rat-infested slums, which have been largely condemned by local authorities as uninhabitable by human beings.

The poor citizens of Illinois are left paying the consequences of Obama's power. He's off in Hawaii resting up for his Denver coronation.

He's the same old dirtbag politician except worse, he's saying he's holier than thou!!

Vote for a candidate with a proven track record, vote John McCain!

Posted by: Yanci | August 17, 2008 12:12 PM | Report abuse

The media doesn't seem to be saying much about the huge tax increase McCain is planning against the middle class. If you employer is paying for your health insurance, McCain will tax that amount as income. This is going to push millions of citizens into a much higher tax bracket. This is what the media won't tell you about McCain.

Posted by: Bill | August 17, 2008 12:11 PM | Report abuse

Social Security Is Funding Tax Cuts for the Rich, Book Charges

American workers are currently paying more than they need to in Social Security taxes in order to finance tax cuts for the super rich. This is among the revelations in a new book on the tax system by a Pulitzer Prize-winning investigative reporter for the New York Times.

In the book, Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich -- and Cheat Everybody Else, author David Cay Johnston warns that the drain on Social Security caused by the tax cuts for the rich could have serious consequences for retiring Baby Boomers.

Johnston explains that in 1983, Congress began asking American workers to pay 50 percent more into Social Security than the system would pay out in benefits. The explicit promise, says Johnston, was that the funds would be used to pay off the federal debt so that the government would have the borrowing capacity to pay Social Security benefits to the Baby Boomers when they began retiring. Instead, Johnston says, the surplus money has been spent on tax cuts mainly benefiting the richest one percent of the population.

"We have financed these tax cuts in good part by using the Social Security surplus," Johnston told National Public Radio host Terry Gross. "If you make about $90,000 or less, you will pay 50 percent more than needed into the Social Security system, and that money will go to finance tax cuts for the super rich."

"But you cannot go on forever spending money you don’t have without serious consequences," warned Johnston, "and those consequences are likely to come due about the time the Boomers start retiring. When that happens, the Boomers may discover that there is not enough money to pay [for their] Social Security."

To listen to Terry Gross's interview with Johnston on her show, Fresh Air, click here.

To learn more about Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich -- and Cheat Everybody Else, click here. McCain think's Obama's tax plan is a disaster because the rich don't get a free ride. These rich fuc__rs have bankrupt the United States and they want to keep going. Look at John McCain's tax forms. How nice of him to give to so many charities on his salary. It's funny because they all do it. On the top of their tax forms it says Loophole 101.


Posted by: HemiHead | August 17, 2008 9:31 AM | Report abuse

Common Sense says never tax those that provide jobs. Single mothers and illegal aliens on welfares do not create jobs. Corporations do. If we told all the corporations of the world that we will no longer tax them if they move their business here, we would so many jobs open up here that we would really need illegal aliens here to fill them.

But as long there are Democrat socialist who think we live in Sherwood Forest wanting to take from those that went to college and made the right decisions in life to give to those that got caught up in thug rap behavior smoking the chronic and having babies at 14 becoming single parents, then we will always have jobs moving overseas where it is cheaper to operate.

Posted by: nwwkerr2005 | August 16, 2008 6:35 PM | Report abuse

COmmon Sense says never tax those that provide jobs. Single mothers and illegal aliens on welfares do not create jobs. Corporations do. If we told all the corporations of the world that we will no longer tax them if they move their business here, we would so many jobs open up here that we would really need illegal aliens here to fill them.

But as long there are Democrat socialist who think we live in Sherwood Forest wanting to take from those that went to college and made the right decisions in life to give to those that got caught up in thug rap behavior smoking the chronic and having babies at 14 becoming single parents, then we will always have jobs moving overseas where it is cheaper to operate.

Posted by: Common Sense | August 16, 2008 6:32 PM | Report abuse

Barrack Hussein Obama with his "Tax & Spend Demos" want your wallet...that's all. BO will spend near a billion dollars,that's
"$1,000,000,000.00"$$ to capture the office...Amt. BO spends for the office is to be the "most ever spent" in/for a USA Pres. race...where is this money coming from??..some ISPs have traced some BO funds received back to Iran, Saudi, Middle East, China, et al.,etc...BO's money, business associates & connections,his background, never served the USA, no experience etc.,etc...Folks, BO is not qualified for the office...and BO's money doesn't pass the "smell test"...it's very clear to most thinking voters that the last thing we, the USA, needs is to have "BO".

Posted by: ltk01 | August 16, 2008 3:26 PM | Report abuse

Michael Phelps wins record-tying seventh Olympic gold!!!!

http://www.boston.com/sports/other_sports/olympics/articles/2008/08/16/golden_touch/

Obama '08

Posted by: John Jr. | August 16, 2008 8:53 AM | Report abuse

In my previous country, we don't pay taxes anyway (because we don't have jobs, ha ha!) I won't vote in US this time, but if McCain has better thing to offer, I may cast my vote, if my boss allow me for the day off.

Posted by: Mazhar | August 16, 2008 7:38 AM | Report abuse

I can't understand why US would increase taxes again by Obama, o my, I better return to my previous country.

Posted by: Mazhar | August 16, 2008 7:17 AM | Report abuse

Obamabots are scary on the economy. Most seem like closet socialists, angry that some people make more money than others. Go to cuba and see how well socialism worked out for them. Or talk to one of the lucky ones who made it out of a Soviet gulag alive. Eastern Europe will be cleaning up pollution for decades because socialism doesn't care about poisoning your town with heavy metals for the good of the state.

That said, the Obama tax increases aren't as bad as expected, especially the social security hike. Although I think most execs will take their comp in stock options now to get 20% rates rather than 44%, so the increase in income taxes will mostly hit small businesses.

Posted by: Tristan | August 16, 2008 1:48 AM | Report abuse

We have an "Economic Disaster" right here and now brought to us by the ideals and policies of the Republican party.

For the first time in history this nation goes to war without raising the taxes to pay for it. In fact it gives a massive tax break to the wealthiest of society.

Only an idiot can argue that if one man has $10 and another $1000 each of them paying $5 in taxes is equality.

Only an idiot can argue that money earned in interest on already existing money should be taxed less than money earned by working everyday just to survive.

Only an idiot would argue against increased taxes on less than 2% of a population as if they themselves would be affected.

Only an idiot believes that a nation founded and liberty and equality should have an aristocracy that has no responsibility to the society in which it lives and gives them the opportunity to amass such wealth.

Only an idiot can continue to argue for policies that emulate those that once led and again lead to economic ruin such that was seen in the 1930's, the tax plan and the deregulation that was shoved down the American peoples throat by this administration and a Republican agenda that mirrors exactly those which led up to the great depression.

This nation has been systematically looted by those with the power to do so. This nation has been destroyed by the greed of those who extort the populous by open empty threats of what they will do if they are forced to do their fair share. This nation is black mailed by corporate malice and economic fallacies fed to idiots and fools to be spread as rhetoric and self ingenuous truths.

2/3 of American Corporations paid no taxes between 1998 and 2005.

$300 billion a year in tax revenue is lost to those who are able to afford to hide their assets in tax havens

Obama's tax plan does not go far enough!

Wall Street currently trade's 6 quadrillion dollars that is 6 thousand trillion dollars worth of derivatives. 1%, one penny of every dollar wall street trades would eliminate the tax burden of all Americans, pay our national debt, pay for an illegal, imperialistic war of occupation in Iraq, pay for healthcare for every American, pay for an education for every American, but this is never, ever, talked about. Instead Wall Street is deregulated and left to it's own self destructive devices and the American people are left holding the bag.

It is the tax payers who fund corporate malfeasance, tax payers who are left to bail out financial institutions, tax payers who fund the glutenous salaries of CEO's who run their companies into the ground, tax payers who support those who lose their jobs through the gross negligence and greed of the monied interests in this country. Then these tyrants have the nerve to tell the American people that they should not have to share in the burden of the destruction they have created. Then these low life's turn to hard working men and women and say it should be their money and not the money of those who have been made rich through a policy of intimidation and robbery that should have to pay. Then we are force fed more lies that tell us it is more important for one man to hold immeasurable wealth than for all citizens be able to survive, that it should fall on those who have so little to support those who have so much.

This nation is SICK!

Posted by: Average joe | August 15, 2008 10:03 PM | Report abuse

Need a break from the Republican Attack Machine?

Michael Phelps Tribute!
http://www.youtube.com/watch?v=2u5ZpKAaMV4

Barack Obama '08

Posted by: Eagle nas’gadooshú | August 15, 2008 9:47 PM | Report abuse

Tim, you are not only pathetic, but you are an economic idiot as well. Yes, I have a whole lot of money, and yes, I do care what happens in this election. You mention the highest jobless claims and highest prices and blame it on tax cuts. What kind of reckless spin have you subscribed to? These are all very recent events, mostly a result of upward spiraling energy prices and basic grain prices going through the roof because of the environmental Nazis. It has been shown repeatedly that tax cuts result in higher revenues for the government. And when you mention tax cuts, you are referring to us economic elite who pay the vast majority of the taxes. In my particular business, I will certainly eliminate jobs if Obama starts to take my profits away. Remember when Bush the first taxed the rich by imposing a tax on luxury boats? Who got hurt? Not the rich because they know how to buy overseas and avoid taxes. (Yes, we rich are smart indeed). But the middle class workers who made boats in the US of A. Duh!! I will survive an Obama presidency because I’m smart enough to figure out how to make money on his socialist (Marxist?) leanings. But the herd known as the middle class will suffer indeed. So, unless you are poor and lost your way, look out!

Posted by: Rob | August 15, 2008 9:36 PM | Report abuse

To: Barack Obama | August 15, 2008 5:06 PM

-----

Thanks! Please start with Walmart.

Posted by: Anonymous | August 15, 2008 7:11 PM
----

Don't forget Exxon also!

Posted by: Anonymous | August 15, 2008 7:11 PM | Report abuse

To: Barack Obama | August 15, 2008 5:06 PM

-----

Thanks! Please start with Walmart.

Posted by: Anonymous | August 15, 2008 7:11 PM | Report abuse

I, Barack Obama, promise that no one American company will be sold to foreign investors while I am president.

To do that, I will increase taxes on all these same companies, their owners, and stok holders and bleed them dry until they are so completely useless and innefective that no one in their right state of mind will EVER want to buy them.

I am Barack Obama and I approve this message.

Posted by: Barack Obama | August 15, 2008 5:06 PM | Report abuse

I'm a tool that trolls the interwebzzz . . thank you Al Gore for inventing the INTERWEBZZZZZZ!!!!!!

WAAA!!!!!!!!!!!!!!!!!!!!

Posted by: Tim | August 15, 2008 4:53 PM | Report abuse

Barak Obama is a tool just like me.

WAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!

WAAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!

Cry baby just like me. . . WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!

and oh yeah, I'm a communist just like by boy-toy Eugene Robinson and Bara-KKK Obama.

WAAAAAAAAAAAAA!!!!!!!!!!!!!!

GO RUSSIA!

Posted by: Tim | August 15, 2008 4:51 PM | Report abuse

Republicans have us at war in two countries as a result of Republican lies and deceptions, and we might be in two more wars--Iran and Pakistan--by November. We have alienated the entire Muslim world and most of the rest.

The dollar has lost 60% of its value against the euro, and the once mighty dollar is losing its reserve currency role.

The Republicans' policies have driven up the price of both oil and gold by 400%.

Inflation is in double digits. Employment is falling.

The Republican economy in the 21st century has been unable to create net new jobs for Americans except for low wage domestic services such as waitresses, bartenders, retail clerks and hospital orderlies.

Republican deregulation brought about fraud in mortgage lending and dangerous financial instruments which have collapsed the housing market, leaving a million or more homeowners facing foreclosure. The financial system is in disarray and might collapse from insolvency.

The trade and budget deficits have exploded. The US trade deficit is larger than the combined trade deficits of every deficit country in the world.

The US can no longer finance its wars or its own government and relies on foreign loans to function day to day. To pay for its consumption, the US sells its existing assets--companies, real estate, toll roads, whatever it can offer--to foreigners.

Republicans have run roughshod over the US Constitution, Congress, the courts and civil liberties. Republicans have made it perfectly clear that they believe that our civil liberties make us unsafe--precisely the opposite view of our Founding Fathers. Yet, Republicans regard themselves as the Patriotic Party.

The Republicans have violated the Nuremberg prohibitions against war crimes, and they have violated the Geneva Conventions against torture and abuse of prisoners. Republican disregard for human rights ranks with that of history's great tyrants.

The Republicans have put in place the foundation for a police state, which they have no problem using against fellow citizens!

We must get the Republicans totally out of power, or we will have no country left for any of us!

Posted by: Anonymous | August 15, 2008 4:24 PM | Report abuse

Basic economics should be a requisite course in high school for every American student. Also, the course should be taught by successful community business people and not by tenured teachers with liberal anti-capitalist, anti America agendas. Obama, if he has his way, will destroy our economy and the truly rich will waltz away unscathed while the vast middle class will pay and pay and pay.

Posted by: Kathy | August 15, 2008 4:17 PM | Report abuse

James Carville Slams latest McCain Ad
http://www.youtube.com/watch?v=eBGIQ7ZuuiU

Posted by: Richard | August 15, 2008 3:48 PM | Report abuse

That video with Lawrence Welk playing Sister Ray is awesomeness.

Posted by: NotSisterRay | August 15, 2008 3:37 PM | Report abuse

Gee whiz! Tax cuts to the rich have REALLY helped our economy so much! The American dollar ain't worth more than used toilet paper, job growth overseas is astounding, and we all know how much fun it is to try and make ends meet when you haven't had a raise in 5 years!

"Get another job!" they say. "They" obviously haven't looked for a job in the past four pitiful years. "They" don't realize wages have decreased in this drunken foolish country.

McCain wants more money to play War Games in Iraq, Iran, Pakistan, and now Russia where we helped the Georgians attack first then criticize the Russians for defending themselves? That's why he won't be our next president. That and the fact that he can't seem to understand his opponant tax plan any better than a 5 year old child.

Posted by: SchoolMarm | August 15, 2008 3:35 PM | Report abuse

I love this guy! Excellent Show!

Lawrence Welk Meets Velvet Underground
http://www.youtube.com/watch?v=i48BP1PUoFI

The Chantay's - Pipeline (Lawrence Welk Show 5/18/63)
http://www.youtube.com/watch?v=j09C8clJaXo

Heres the number #1 Lawrence Welk Fan Club!
http://welk.buffnet.net/

Go Mr Barack Obama!!!!

Posted by: David A. | August 15, 2008 3:33 PM | Report abuse

Now that I think about it, Kuwait was liberated by engineers. Who made the guns/ships/trucks?

Did you jump in the water of the coast of Jersey and swim to Kuwait?

When you got there, did you beat the enemy with sticks?

Posted by: Tim | August 15, 2008 3:31 PM | Report abuse

"Kuwait was liberated by an engineer I suppose?

Can you say S E A L ?
Maybe Obama can read that to you. Honor Thy Country. You should be ashamed, and your Mother would be so proud. "

I don't think America is the "world police." The last war that I would have enlisted in was WW2. Every war since then has only had financial reasons.

Besides, SEAL's music sucks.

Posted by: Tim | August 15, 2008 3:29 PM | Report abuse

"What people do not realize is by raising taxes on the rich you do two things:
1. Cut Job Growth 2. Raise consumer prices
A vote for Obama is a vote for economic destruction. If you think raising taxes on the rich won't affect the middle class wake up!"

So what is your plan? Tax the poor people more? Does that mean the rich are immune to taxing?

If taxing rich people will reduce jobs and increase prices, then reduce rich peoples tax must increase jobs and reduce prices.

So why do we have the highest jobless claims and highest prices after 8 years of rich tax cuts?

Seems like all reducing taxes on the rich has done was raise prices, lose jobs and create a huge national debt.

Sorry, but you are wrong.

Posted by: Tim | August 15, 2008 3:26 PM | Report abuse

Yeah, we had really big naval wars in the last 9 years....

Without you saving the US from Iraq's navy we would have completely lost the war.

Kuwait was liberated by an engineer I suppose?

Can you say S E A L ?
Maybe Obama can read that to you. Honor Thy Country. You should be ashamed, and your Mother would be so proud.

Posted by: Bob | August 15, 2008 3:23 PM | Report abuse

What people do not realize is by raising taxes on the rich you do two things:
1. Cut Job Growth 2. Raise consumer prices
A vote for Obama is a vote for economic destruction. If you think raising taxes on the rich won't affect the middle class wake up!

Posted by: chris | August 15, 2008 3:21 PM | Report abuse

You say it is BS, but right now its just promises.

Both candidates have made promises.

I beleive the Obama's promises are better, and I beleive he is more likely, and more prepared, to come through with them.

Posted by: Tim | August 15, 2008 3:19 PM | Report abuse

If you have so much money, why do you care what happens in this election? Are you that greedy that you want MORE money for yourself? Do you need 6 cars? Do you need all that crap?

My guess is that no matter what materials you have, you will never be happy, because you will NEVER have enough. I feel sorry for you.

Don't feel sorry for me. I don't want pity. I have EARNED what I have. BTW, not that it is your business, I have four kids, one humble home, a 6 year old car, and no boat (which I have always wanted). My kids will not be deprived but they have what they need, not what they want. But whatever it is, they too, will earn it.

This whole debate is a waste of time, like the DNC who is going to honor Hillary to spin the vote. WOW WOW WOW. I truly hope you take a look around and open your eyes when you do. You will be surprised by how much BS you have fallen for.

Posted by: Bob | August 15, 2008 3:15 PM | Report abuse

"One more thing, all my education came after serving in the US Navy for 9 years, thus ensuring your right to type your rhetoric and spread socialism."

Yeah, we had really big naval wars in the last 9 years....

Without you saving the US from Iraq's navy we would have completely lost the war.

Posted by: Tim | August 15, 2008 3:09 PM | Report abuse

P.S. IU is a better school than Mich. so thanks U of M. I am going to continue raking in my share of the pile of cash and hide all in offshore accounts so I don't have to feed your kids when Obama finds out I have it.

If you have so much money, why do you care what happens in this election? Are you that greedy that you want MORE money for yourself? Do you need 6 cars? Do you need all that crap?

My guess is that no matter what materials you have, you will never be happy, because you will NEVER have enough. I feel sorry for you.

Posted by: Tim | August 15, 2008 3:06 PM | Report abuse

One more thing, all my education came after serving in the US Navy for 9 years, thus ensuring your right to type your rhetoric and spread socialism.

Posted by: Bob | August 15, 2008 3:05 PM | Report abuse

First off you say you were smart. Did you have all A's? Did you get about a 1200 on the SAT's? Did you join clubs in highscool? If your answer is no to any of these, that is the reason why you didn't get into certain schools.

Let's see 1320, 3.99 GPA, National Deans list, oh yea, did I mention, Honors? One more thing, I was the junior Mayor in a city of 650,000. Like I said, I WAS qualified. It is called Affirmative Action. Robin Hood

P.S. IU is a better school than Mich. so thanks U of M. I am going to continue raking in my share of the pile of cash and hide all in offshore accounts so I don't have to feed your kids when Obama finds out I have it.

Posted by: Bob | August 15, 2008 3:00 PM | Report abuse

Rove and Schmit will not attack most mainstream Artists by name. They haven't gone after Bruce Springsteen or Tom Hanks yet. They did go after Bono. Maybe Rove and Schmit hate the Irish? Perhaps U2's song “Beautiful Day” struck a nerve? This song has been played at a number of Obama rallies. Dictators throughout history have always prosecuted Artists first as a threat. Rove and Schmit message is that John McCain is Dictator who whats to silence the voice of American Artists. Why should we be surprised everyone? Its the same people who ran the Bush/Cheney campaigns. Rove and Schmit message is McCain is just anther Bush term!

Rove and Schmit will go after what they consider weak celebrities.

Notice Obama hasn't attacked the artists supporting McCain.

The media goes right along by not acknowledging the incredible talent that America has to offer. . The media just labels all artists as celebrities and falls right into the trap set by the Republican smear machine.

Posted by: Charlie | August 15, 2008 2:59 PM | Report abuse

I'd marry you Bob, if the republicans would allow it!

But in our new society, thinking about gayness is a mortal sin, punishable by flogging to death.

You know I like floggin, *wink, but I need to be able to smear people over the intraweb.

Posted by: JakeD | August 15, 2008 2:45 PM | Report abuse

Don't worry JakeD!

I will be there late at night to confort you with whatever needs you have! Together we can wallow in our own filthy liquids and dream of a country where republicans do whatever they want, and get away with it!

Hopefully by the end of a few years we can completely destroy the world, that way we don't have to suffer anymore!

Posted by: Bob | August 15, 2008 2:44 PM | Report abuse

WAAAAAAAAAAAAAA

I am a complete idiot!

Waaaaaaaaaaaaaaaa

All i can do to defend myself is call people names! Maybe if I cry as much as posible they will forget the fact that I am completely wrong about Obama!

Waaaaaaaaaaaaaaaaaaaaaaaaaaaa

Maybe if I call Barack Obama but different names it will scare people into voting for McCain!

Waaaaaaaaaaaaaaaaaaaaaaaaa

I know that McCain has no good reason to be president except the fact that he will make rich people richer, but I am too dumb to realize that McCain will not help me.

Waaaaaaaaaaaaaaaaaaaaaa

I am a sad man with no life, so all I do is troll forums and start fights that I am too dumb to win!

Waaaaaa

Posted by: JakeD | August 15, 2008 2:41 PM | Report abuse

McCain doesn't want Obama elected because he (McCain) is one of the rich people whose taxes would go up. Boo hoo.

http://www.youtube.com/watch?v=AEmPZoRVRII

Posted by: jds | August 15, 2008 2:35 PM | Report abuse

Oregon4Obama,

Nice post. I need all the help I can get to try and convince these people, Bob and JakeD, that they have not done enough homework to understand why McCain will continue to ruin this country.

Posted by: Tim | August 15, 2008 2:34 PM | Report abuse

JakeD,

It must hurt to have someone like Obama be so much better in all ways then yourself. This man, who you probably see as inferior, is smarter then you.

Doesn't it just get under your skin? Enough to make you want to sign onto the internet and smear him as much as you can?

What exactly is so wrong in your life that all you can do is call people names and make up lies? Most people stop doing that around the age of 15.

Posted by: Tim | August 15, 2008 2:32 PM | Report abuse

Lets look at Today and NOT the Future....

Right now we are in an economic disaster!!!

McCains plan is to make the Bush Tax Cuts Permanent....

y'know the tax cuts that drove us away from the Clinton age of prosperity, when we actually had a surplus and created millions of new jobs.....

analysts have stated that Obama's tax plan would be better than regans and clintons because it also invests in education and technology.....

We tried the Bush method of giving tax breaks to the rich and hoping their good fortune might trickle down to the rest of us.....but it NEVER happened......

what we got were companies like Enron and Tyco and now the oil companies are getting record profits while we pay a ton at the pump.....they dont want renewable energy or they would invest more than 1% of their total yearly profits on it.....

instead the oil companies want to scare us into submitting to offshore drilling that when we do, that oil will be included in the global market, its not like if we drill for oil in the US that its automatically our oil....NO it gets tallied with the rest of the oil and purchased worldwide......

Nuclear power would be ours, wind would be ours.....but not oil

Listen.....we are in an economic disaster, putting mccain in office would make that wound more infected because he likes Bush's ideas and wants to build upon them

Posted by: Oregon4Obama | August 15, 2008 2:29 PM | Report abuse

"You had the stereotypical comment to hide behind, not me. Oh and by the way, I am smart and was turned down by certain schools because and only because I am a "republican elitist with a silver spoon in my mouth" LOL my spot was given to a minority. My family was as poor as poor gets. Now prove me wrong. Jerkoff"

Well, we can break it down.

First off you say you were smart. Did you have all A's? Did you get about a 1200 on the SAT's? Did you join clubs in highscool? If your answer is no to any of these, that is the reason why you didn't get into certain schools.

Second, you say you were a "republican elitist witha silver spoon in your mouth." How exactly did the schools know about this. In the essay to apply, did you cry that you a were republican and poor?

And lastly, they gave your spot to a minority huh? Was it because he had better grades/sat's/clubs/demeanor? How did you know for a fact that it was given to a minority? Why didn't you apply to other colleges?

Some people are smart, and hard working. These people make it to Ivy league schools. I went to a state school. I had grants, because my single mother had 2 kids and a job that paid under 10k a year, to go to college.

How does this have anything to do with being an "elitist born with a silverspoon in his/her mouth?"

Don't call people names, it only proves you are not smart enough to actually debate someone.

Posted by: Tim | August 15, 2008 2:29 PM | Report abuse

Btw, Tim is a commie b@stard.

Posted by: JakeD | August 15, 2008 2:25 PM

OMG, OMG, They are attacking Barak, OMG!!!!

WAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

WAAAAAAAAAAAAAA-WAAAAAAAAAAAAAAAAA!!!!!


LOL

Posted by: Bob | August 15, 2008 2:27 PM | Report abuse

Btw, Tim is a commie b@stard.

Posted by: JakeD | August 15, 2008 2:25 PM | Report abuse

OMG, OMG, They are attacking Barak, OMG!!!!

WAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

WAAAAAAAAAAAAAA-WAAAAAAAAAAAAAAAAA!!!!!

Posted by: JakeD | August 15, 2008 2:25 PM | Report abuse

That is the difference between the common man, and the rich elitist republican.

You had the stereotypical comment to hide behind, not me. Oh and by the way, I am smart and was turned down by certain schools because and only because I am a "republican elitist with a silver spoon in my mouth" LOL my spot was given to a minority. My family was as poor as poor gets. Now prove me wrong. Jerkoff

Posted by: Bob | August 15, 2008 2:17 PM | Report abuse

"One last statement; Take responsibility for your own life! Trust is earned not given because you walk into a bank. Write that down."

Are you implying that the banks are shady liars? Are you saying that these banks could have known that they were robbing people, and they did it anyway? Isn't there government policies that have been put in place to stop people from scamming other people EXACTLY LIKE THIS?

Thanks for proving my point. The banks new what they were doing when they cause the housing crisis.

QED

Posted by: Tim | August 15, 2008 2:14 PM | Report abuse

"That is the difference between the common man, and the rich elitist republican.

Where did Obama go to school? Michelle? Elitist? Wait, I am choking on my silver spoon. Unbelievable. I am done wasting my time here."

This takes the cake. So everyone that goes to Harvard is an elitist? I thought they were just smart people.

You have to consider that Obama was POOR HIS WHOLE LIFE, EVEN IN COLLEGE. He only came into money after he wrote his first book.

Why is he an elitist? He started as a common man, worked hard, and has the chance to be president. Sounds like the real american dream, work hard and get ahead. His origin is WAY MORE HUMBLE then McCain's. McCain, and his buddy Bush, were born with the silverspoons. They both had powerful fathers that bailed them out of life.

I can argue all day with you and here how it would go:

Bob says, "blah blah blah Obama sucks."

I prove Bob wrong with facts and logic.

Bob ignores the fact that he lost the argument and just says something else about Obama that is false.

I prove him wrong again.

Repeat 100 times.

How many times do I have to prove with facts and logic that you do not know what you are talking about?

Posted by: Tim | August 15, 2008 2:11 PM | Report abuse

Joe walks into a bank. He tells them he wants a loan. He tells them that he makes X. He tells them that he has Y worth of bills. The bank does the rest. THEY decide how much he can afford, not Joe. So why is it Joe's fault when all he did was explain his financial situation, and expect quality service? Joe loses his house, and everything he owns, because the bank did a bad job of calculating what he can afford.

The truth is the banks had a quota of how much they needed to lend, then they broke their loan rules and allowed tons of people to get loans that should not have be possible. All because the banks were greedy.

And now you think its the fault of the people who just wanted a house, and trusted a bank. You have no soul.

(side note, McCain's budget plan was writting by the LOBBYIST who pushed for the LOOPHOLES that have CAUSED the housing markey crisis.)

Vote for McCain, and vote for more corporate bailouts at our expense.

One last statement; Take responsibility for your own life! Trust is earned not given because you walk into a bank. Write that down.

Posted by: Bob | August 15, 2008 2:09 PM | Report abuse

"We dont have the renewables yet, the Gov. is to busy bailing out unsuspecting homeowners that had no business buying a home for the price they paid (rather WE are paying for, since 55% have foreclosed). Now the booming economy is falling flat on our face so there is no money to build wind farms that the tree huggers don't want anyway. All crap just crap."

LOL, i love how its the peoples fault for this. The average person knows nothing about interest rates and morgages, that is why they use banks and brokers to do the math for them. Shame on these people for trusting the banks to give them loans that they could actually afford.

Example:

Joe walks into a bank. He tells them he wants a loan. He tells them that he makes X. He tells them that he has Y worth of bills. The bank does the rest. THEY decide how much he can afford, not Joe. So why is it Joe's fault when all he did was explain his financial situation, and expect quality service? Joe loses his house, and everything he owns, because the bank did a bad job of calculating what he can afford.

The truth is the banks had a quota of how much they needed to lend, then they broke their loan rules and allowed tons of people to get loans that should not have be possible. All because the banks were greedy.

And now you think its the fault of the people who just wanted a house, and trusted a bank. You have no soul.

(side note, McCain's budget plan was writting by the LOBBYIST who pushed for the LOOPHOLES that have CAUSED the housing markey crisis.)

Vote for McCain, and vote for more corporate bailouts at our expense.

Posted by: Tim | August 15, 2008 2:05 PM | Report abuse

That is the difference between the common man, and the rich elitist republican.

Where did Obama go to school? Michelle? Elitist? Wait, I am choking on my silver spoon. Unbelievable. I am done wasting my time here.

Posted by: Bob | August 15, 2008 2:00 PM | Report abuse

Its time to brand Obama and the Democrats with a “Beautiful Day in American” campaign. After 8 years of the Republican Campaign ads of fear, American is ready for a change. America deserves to wake up to a beautiful day in November. A magic connection to the voters, its in their hands once they walk into that voting booth to seek the change. A bonding between the the voters and Democrats emotionally.

Rove/Schmidt and The Republicans are driven by polls that say negative ads work. They are not connecting with the American Voters by attacking creative artists with millions and millions of fans. The emotionally bond between artists and their fans are being strengthened by such attacks. The Republicans can't brand creative thoughtful artists as just celebrities. Even Ronald Reagan had creative artists on the right supporting him. Obama admires Reagan. Obama and Reagan are similar in that they attracted some of most most creative artists of their times. Creative Artists are also what make America great.

The Rove/Schmidt ads smell like they are meanspirited. Their scent mocks the intelligence of the American People as well as the media.

Hitler's PR man, Joseph Goebbels once said ““If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” Sounds like the Republican attack smear machine right? Well the internet levels the playing field. Voters can have their voice heard. The danger is the hidden e-mail smears. The hope is the open media forums.

A follow up ad campaign would be the security of a beautiful day comes with the protection of generals and those that count. In times of war The voter also want to feel safe in uncertain times. This can counter the Republican attack machine.

The security of a beautiful day also comes with a secure economy, dealing with the oil and the housing crisis and much more.

The hard part to deal with is to undo the Republican damage of the last 8 years. 492 billion dollar deficit. The Iraq war. Since the 2006 elections, the Republican minority in the Senate and Congress have proven that they can block block bills. Obama has shown clear leadership in crossing party lines working with Republicans, Democrats and Independents and ending the gridlock in Washington DC. Its a American agenda for change not a left, right, or run hard to the center agenda. Obama can make the America agenda a reality.

Thank you for letting me speak. I got all my ideas from frontline: the persuaders: analysis: the marketers' challenges, also watching all my favorite Sunday Talk shows and the Pundits, also studying some of the cool posters for the Democrats on the media forums. Which means you too can become a thoughtful blogger and contribute to Democracy. Its in your hands.

U2- Beautiful Day
http://www.youtube.com/watch?v=omFdpnSu57U

Barack Obama '08


Posted by: Cooday | August 15, 2008 1:59 PM | Report abuse

"BTW check you 401k plan. Chances are you too have contributed to the high oil price and recieved some profit from it. "no he dint just say dat" Quote from msnbc man on the street, voting for Obama. WOW"

Well then take that profit back, and give it to the people that are struggling to feed their children. I will be the first to give up something to help another. That is the difference between the common man, and the rich elitist republican.

Posted by: Tim | August 15, 2008 1:57 PM | Report abuse

Drilling for oil is not the answer. We have renewables now, we just need the investments to produce them and incentives to use them.


T Boone Pickens - google him.

We dont have the renewables yet, the Gov. is to busy bailing out unsuspecting homeowners that had no business buying a home for the price they paid (rather WE are paying for, since 55% have foreclosed). Now the booming economy is falling flat on our face so there is no money to build wind farms that the tree huggers don't want anyway. All crap just crap.

Posted by: Anonymous | August 15, 2008 1:56 PM | Report abuse

as the post by factory worker noted, the Repubs said the exact same stuff about Clinton's raising taxes on the well off and they were as wrong as could possibly be.

Posted by: newageblues | August 15, 2008 1:51 PM | Report abuse

BTW check you 401k plan. Chances are you too have contributed to the high oil price and recieved some profit from it. "no he dint just say dat" Quote from msnbc man on the street, voting for Obama. WOW

Posted by: Bob | August 15, 2008 1:45 PM | Report abuse

"Ok let me educate you, first I do NOT work for an oil company, I work for an electric utility. Major difference. Everyone seems to think the "oil" company is your energy company, wrong. Second, I pay an electric bill just the same as you and if you knew what government regulation does to the utilites, you might understand. So let me clear the air, a regulated utility (oil companies too) are limited in the profit (10%) Max. The oil company profits are only high because of the price of oil is in real dollars, not in %. The value of a dollar is @ .74 vs. the euro, when that goes up (economics 101) the price of oil will fall, just as it has for 4 weeks straight. There sir is the answer, the world buys oil in dollars not the euro, so the value of the oil is higher. Key word= Value. By the way, I am not a McCain supporter, I wish my choices would not be decided by the media and maybe something would get done. One thing I do know is Obama is not the answer. Fist Bump anyone?"

Good, then you agree that Obama will be better for president then McCain. In order to reduce fuel costs we need to increase the value of the American dollar. In order to do that we need to reduce our dependency on foreign trade.

McCain is for granting tax breaks to companies that ship labor overseas. Obama is for taxing these companies more, while reducing taxing on companies that manufacture products in the US. Obama's plan will raise the value of the dollar be creating more revenue for companies that stay inside the US.

Also, Obama's plans for renewables mirrors the beginning of the industrial revolution. In order for America to lead the world, like they did when factories started around the 1900s, we need to come up with new inovative technology to sell to the rest of the world.

If we create new solar/wind turbines here in the US, that are more efficient then ones made overseas, other nations will purchase our products. This will increase the value of the dollar and thereby lower energy costs. That is besides the fact that this new technology will dramatically reduce the need for foreign oil.

You work for an electrical company, I'm and electrical engineer.

Drilling for oil is not the answer. We have renewables now, we just need the investments to produce them and incentives to use them.

You can learn alot by looking at Germany. They hav paid double what we have for energy for quite a long time. There solution is to award people who use renewable energy with incentives. In the short run, energy prices increase to make up for the extra incentive money, but in the long run Germany is LESS dependent on foreigh markets, and therefore less dependent on speclatory trade.

QED

Posted by: Tim | August 15, 2008 1:45 PM | Report abuse

Well the truth comes out. No wonder why you like McCain, you work for an oil company.

I can not even argue with you now, everything you say will be just to make your candidate look better because you have a personal gain involved.

BTW, the idea of the windfall profit tax is to reduce the amount of profit seen by energy companies and pass that onto the public. So when the energy companies raise there prices, and their profits raise, SO WILL THE AMOUNT OF MONEY THE PUBLIC RECEIVES.

Ok let me educate you, first I do NOT work for an oil company, I work for an electric utility. Major difference. Everyone seems to think the "oil" company is your energy company, wrong. Second, I pay an electric bill just the same as you and if you knew what government regulation does to the utilites, you might understand. So let me clear the air, a regulated utility (oil companies too) are limited in the profit (10%) Max. The oil company profits are only high because of the price of oil is in real dollars, not in %. The value of a dollar is @ .74 vs. the euro, when that goes up (economics 101) the price of oil will fall, just as it has for 4 weeks straight. There sir is the answer, the world buys oil in dollars not the euro, so the value of the oil is higher. Key word= Value. By the way, I am not a McCain supporter, I wish my choices would not be decided by the media and maybe something would get done. One thing I do know is Obama is not the answer. Fist Bump anyone?

Posted by: Bob | August 15, 2008 1:35 PM | Report abuse

Gosh, what a shocker! Another attack ad from John McCain - the only kind of ad he approves of, apparently.

Actually, the only kind of ad he CAN publish, for he sure doesn't have a clue about what he stands for, except more of the same policies that got us to this point.

Keep 'em coming John. Every ad like this drops your poll numbers a bit more.

Posted by: Dennis Berry | August 15, 2008 1:18 PM | Report abuse

After looking at Obama's tax plans, former and current, it became very clear to me that his advisors are from the European mind set of economics.
Implementing a plan such as theirs will result in the horrendous conditions that Europeans face today. High inflation especially gas prices, high unemployment that is double to 4 times what the US's is today, and we'll have to increase trade with Iran, Syria and others like the Germans do just to stay afloat.
Personally, I wish Obama's plan wasn't so bad because I had planned to vote for him for the historical significance, but, as is, McCain will get my vote.

Posted by: Shane S | August 15, 2008 1:17 PM | Report abuse

luxlumina,

Very nice post. Well spoken and logical. This county will get what it diserves, we can not go on the way we are without tearing ourselves apart.

Posted by: Tim | August 15, 2008 1:02 PM | Report abuse

I can’t say if Obama’s tax policy is flawed.

But McCain is the personification of the end of the American empire: flawed to the bottom of his nebulous being- which is, perhaps, good. Sometimes the world must change.
History has shown that these entities only last so long, and then there over- the USA came out of the second world war with a great deal of individual, infrastructural, material capital.
The rest of the world had been mostly pretty well destroyed.
Somewhere this bit of fortune for us was interpreted as the will of GOD.

So fifty years of incredible arrogance, and corruption has brought us to where we stand now- like we don’t even have enough capital to rebuild our crumbling infrastructure- and these fantastic neomorons or decrepit icons think we can take on Russia, China Iran similtaeneously..
This is a phantasm from the Disney land past.
Anyway with McCain we seal our fate an out of touch, demented dreamer whose main concern is to win a war any war- who in almost every other area a crooked and weak minded figure: he is the is the classic icon of the last Emperor- this seems so obvious that if you don’t get it you are seriously deluded. I wouldn’t hire him to me rake leaves.

Bema it’s hard to say with him, but at least he has the carriage of a survivor who perhaps is destined for greatness. Might as well take a chance, because the other one like his predecessor is a clear symbol of the last days of the United States. Desolation row if you will
McCain is a case of a being of complete, vacuous ineptitude.
LUXLUMINA

Posted by: luxlumina | August 15, 2008 12:59 PM | Report abuse

"Take a minute and go to the DOE.gov website and maybe, just maybe, you will understand what a real energy plan will do. Supply and demand. How much was your electric bill last month? What about heating cost this winter? Now factor in the windfall profits tax that MY COMPANY (yes that's right) will pass on to you under Obama's "change" plan! Tell that to your kid's when they are wanting to go to College. Tell them "I voted for Obama!"

Well the truth comes out. No wonder why you like McCain, you work for an oil company.

I can not even argue with you now, everything you say will be just to make your candidate look better because you have a personal gain involved.

BTW, the idea of the windfall profit tax is to reduce the amount of profit seen by energy companies and pass that onto the public. So when the energy companies raise there prices, and their profits raise, SO WILL THE AMOUNT OF MONEY THE PUBLIC RECEIVES.

So do what you want, try and pass that tax onto us, and you will just get taxed more to make up for it.

The cycle will end when renewables are created because of Obama's renewable energy policies. Then you can charge whatever you want for gas, because Americans will not be buying it.

Why is it that America does not tax food, clothing, or housing? Because these are things that you need to live. Expect gas/oil to eventually join the list, and become federally regulated.

Till then, enjoy the last few months of tax breaks for your company. Obama will be trashing them come next year.

Posted by: Tim | August 15, 2008 12:50 PM | Report abuse

McCain admits he know very little about the economy. He can only repeat the policies of Bush who has run up the worst deficits since Ronald Reagan. McCain will be looking for other wars to get us into and will further drive our economy into the dirt. A weak dollar due to heavy debt drives up the price of oil and hurts everyone except Big Oil who will receive huge subsidies under McCain. He can barely answer a question in front of a live audience. McCain is not bright, not competent, is a tool of the Bushies and can't handle the US economy.

Posted by: jefflz | August 15, 2008 12:41 PM | Report abuse

If America uses 25% of world-wide oil production, and Offshore drilling will create 2% more oil then:

2/25=.08 or 8%.

Drilling for oil offshore, then keeping all the oil for america, will only effect oil prices by 8%.

So gas would go from $4 to $3.68. Wow, 32 cents a gallon will competely save the america right?

WOW! Impressive basic math. You forgot to factor in the windfall profits tax that you will pay.

Take a minute and go to the DOE.gov website and maybe, just maybe, you will understand what a real energy plan will do. Supply and demand. How much was your electric bill last month? What about heating cost this winter? Now factor in the windfall profits tax that MY COMPANY (yes that's right) will pass on to you under Obama's "change" plan! Tell that to your kid's when they are wanting to go to College. Tell them "I voted for Obama!"

Posted by: Bob | August 15, 2008 12:30 PM | Report abuse

McCaint with lobbyists at his side.....

...how can he be trusted with world affairs?
....how can he be trusted with the energy crisis?
....how can he be trusted with the security of this nation?
....how can he be trusted with this nations citizens
....how can he be trusted with taxes
....how can he be trusted with health care
....how can he be trusted with the mission accomplishe occupation of Iraq
....how can he be trusted with lobbyists that are economic and foreign advisors which have bodies in their closets
....how can he be trusted at all

Posted by: AlexP1 | August 15, 2008 12:30 PM | Report abuse

Well, Republicans are the experts on "Economic Disaster".

Posted by: Anonymous | August 15, 2008 12:14 PM | Report abuse

"One needs to review Senator McCain's total own fiancial statement that was released to see the reason that Senator McCain is totally against raising the Capital Gains taxes as well as raising the taxes for those making over $250,000.

He is more concerned about the increase in taxes that he and his wife would need to pay than to family whose income is only $50,000.
Let's be honest. A family that has a income of only $50,000 is not worried about Capital Gain taxes since they have NO MONEY to invest. These families are concerned about how they will feed ,clothing and provide a roof over the heads of the family. Why is McCain against giving them a few extra dollars .

If the cuurent Pres. Bush tax program ,which Senator McCain supports , does die, just ask yourselves ( and be honest) how many more dollars would the MCains pay in Capoital Gains tax when Anheuser Busch is sold? How many more tax dollars would he and his wife pay sine the combine income is more than $250,000 and then ask yourselves does Senator Mccain support the extending the Bush Tax program for the "GOOD" of the familiea making $50,000 or for his own benefit?"

Anyone who votes against his own profits is either ignorant that he is hurting himself, or has a hidden agenda.

Of course McCain will not lower taxes for poor people. If he did that he would have to raise taxes for himself. Only someone that has a Ghandi type of perception of things would ever vote against his own property. And anyone that has a Ghandi type of perception would never have the kind of money that McCain has.

Posted by: Tim | August 15, 2008 12:06 PM | Report abuse

One needs to review Senator McCain's total own fiancial statement that was released to see the reason that Senator McCain is totally against raising the Capital Gains taxes as well as raising the taxes for those making over $250,000.

He is more concerned about the increase in taxes that he and his wife would need to pay than to family whose income is only $50,000.
Let's be honest. A family that has a income of only $50,000 is not worried about Capital Gain taxes since they have NO MONEY to invest. These families are concerned about how they will feed ,clothing and provide a roof over the heads of the family. Why is McCain against giving them a few extra dollars .

If the cuurent Pres. Bush tax program ,which Senator McCain supports , does die, just ask yourselves ( and be honest) how many more dollars would the MCains pay in Capoital Gains tax when Anheuser Busch is sold? How many more tax dollars would he and his wife pay sine the combine income is more than $250,000 and then ask yourselves does Senator Mccain support the extending the Bush Tax program for the "GOOD" of the familiea making $50,000 or for his own benefit?

Posted by: Ed | August 15, 2008 12:02 PM | Report abuse

You know this is the same thing the Rebuplicans said about the Clinton economic plan back in the 80's and guess what happened after Clinton got elected? One of the most prosperous times in US history that resulted with a US SURPLUS budget, not a record US DEFICIT that we currently have under the Bush/Cheney regime. Come on folks, these are Republican scare tactics to frighten the general populace into voting for McCain so McCain and his good ole boys can keep the rich elite country club status-quo in power and accumulating enormous amounts of wealth while middle class Americans struggle with the housing mortgage crisis, high gasoline prices, high education prices, and high helath care prices. Wake up folks, the Republicans are spewing lies here.

If you want the straight-talk about Obama's Tax Plan please click on this op-ed peice that appeared in yesterday's Journal:

http://online.wsj.com/article/SB121867201724238901.html?mod=googlenews_wsj

Posted by: Factory Worker, Akron Ohio | August 15, 2008 12:00 PM | Report abuse

"Educate? Please do not insult me. First I said nothing about McCain. Second I am an Energy professional and have been for 23 years. No I don't think EVERYONE is wrong ( 47%), hardly EVERYONE, but most are completely un-informed. You are wrong sir and so is Obama. Just do some research."

WOw, you and McCain are like twins. He spent 26 years in the Senate and didn't learn anything. You spent 23 years as an energy professional, whatever that is, and didn't learn that dilling offshore will not help out our energy crisis.

If America uses 25% of world-wide oil production, and Offshore drilling will create 2% more oil then:

2/25=.08 or 8%.

Drilling for oil offshore, then keeping all the oil for america, will only effect oil prices by 8%.

So gas would go from $4 to $3.68. Wow, 32 cents a gallon will competely save the america right?

I forgot to mention, that this change will be 5-10 years away.

My math ALSO ASSUMES THAT AMERICAN DRILLED OIL WILL JUST BE HANDED TO US FOR FREE.

So if the oil companies decide they want to make some money of this oil, and they actually charge us for it, you can expect VERY LITTLE CHANGE IN PRICES.

I would assume that our oil companies will simply sell it to us at the same rate, and keep whatever profits they get for drilling offshore.

NET PROFIT:

1) Our coastlines get ravaged by Oil Companies.

2) Our enviroment becomes worse because of global warming.

3) Exxon makes an extra billion dollars a quarter.

HMMMM, i dont see anything in there that helps out me, in fact, IT ALL SEEMS TO MAKE MY LIFE WORSE.

Posted by: Tim | August 15, 2008 11:45 AM | Report abuse

This socialism you are talking about seems like it would work alot better then whatever it is we are doing now.


Then move to Russia. God help us all.

Man I hate stupid people.

Posted by: Bob | August 15, 2008 11:40 AM | Report abuse

If you beleive that the democrats are against energy independence, then you are very easily convinced by bad liars. Energy indenpendace can only result in renewable energies, and national reduction in energy usage. Drilling simply WILL NOT effect our energy independence.

Please research things before you create an opinion. If you find yourself beleiving McCain's ads, even while EVERYONE says they are blanted lies, do you think that EVERYONE is wrong except you?

Educate? Please do not insult me. First I said nothing about McCain. Second I am an Energy professional and have been for 23 years. No I don't think EVERYONE is wrong ( 47%), hardly EVERYONE, but most are completely un-informed. You are wrong sir and so is Obama. Just do some research.

Posted by: Bob | August 15, 2008 11:36 AM | Report abuse

THEY ALSO PAY 90, YES 90% PERCENT OF THE TAXES! AND CREATE ALL, YES ALL THE JOB'S.
WHAT YOU JUST DESCRIBED IS SOCIALISM NOT DEMOCRACY, SINCE WHEN DID PROFIT BECOME A DIRTY WORD?

Again, you need to learn economics.

First, you can start by not typing in all caps. That jus tmakes you look like a grumpy old man, or immature child.

Of course the rich pay 90% of the taxes, this is because they have 90% of the wealth in this country. If you tax one person who makes 250,000+ a year by 20%, he will pay as much taxes as 5 people who make 50,000 a year. Considering that most people make alot less then 50k a year, you can get into a situation where taxing one person 20% is equal to taxing 200 poor people the same percentage. Its simple math, even if the percentage is the same, when you get into the millions of dollars some people make, their tax makes up for hundreds of poorer people.

They create jobs, and also run politics, BECUASE THEY HAVE THE MONEY TO THROUGH AT IT. If poorer people had a few extra bucks, maybe they could invest in their own companies and create jobs, but because they can barely feed their children, job creating takes a back seat to surviving.

This socialism you are talking about seems like it would work alot better then whatever it is we are doing now.

Posted by: Tim | August 15, 2008 11:28 AM | Report abuse

"Quote Taken fron the American Prospect"
"America's tax code needs a serious overhaul. The last clean-up was in 1986, when Ronald Reagan turned away from his tax-slashing past to partner with a Democratic Congress and close loopholes, change rates, and broaden the tax base. Over the intervening decades, lobbyists have left their Gucci footprints all over the code, and our system is a bigger mess than ever -- one that should give both Democrats and Republicans pause.

For instance, America taxes corporations at the second-highest rate in the industrialized world but collects the fourth-lowest amount of corporate tax revenue. Why? Loopholes, special deductions, tax credits, subsidies, and shelters. Politically influential industries get special deals, distorting investment decisions and forcing overall tax rates higher than they need to be.

John McCain once seemed eager to pick up the reform mantle. A tough-talking conservative who wraps himself in the Gipper's legacy, inveighs against earmarks, calls himself a deficit hawk, and fought George Bush's 2001 and 2003 tax cuts, McCain seemed to be one of the few politicians in America actually eager to restore some sense to the tax system. Then he decided to run for president.

Over the course of his campaign, McCain has consistently chosen granting tax breaks for industry and wealthy donors over tackling the problem of pet tax benefits. He proposes cutting the corporate tax rate from 35 percent to 25 percent, costing $100 billion a year, but fails to eliminate a single corporate tax break. A 25 percent rate would be below the average rate of other industrialized countries and the lowest among G-7 countries by a significant margin.

But McCain does not stop there. He would let companies immediately write off all investment in equipment and technology. Companies would get an immediate up-front deduction for their investments, rather than being forced to deduct their costs over time. The change is very valuable for companies because a $100 deduction today is worth a lot more than $10 a year for ten years. For the same reason, it is very expensive for the Treasury -- to the tune of about $75 billion a year.

McCain's top policy advisor Douglas Holtz-Eakin claims that such a write-off has no long-term cost. In fact, when Holtz-Eakin headed the Congressional Budget Office, it concluded that a similar, smaller proposal cost $440 billion over a decade. Reagan tax official Ron Pearlman labeled Holtz-Eakin's claim "so intellectually dishonest it's outrageous."

In addition to covering up the true cost of its corporate tax cuts, the McCain plan has another serious flaw: Companies can use new investments to shelter profits from other parts of their business from tax. Other advocates of immediate investment write-offs, such as George Bush's tax reform panel, considered it "essential" to also eliminate the deduction for business interest. But revisiting the interest deduction raises a host of thorny problems for Wall Street, and McCain has simply ignored this hole in his plan.

For individuals, McCain proposes repealing the Alternative Minimum Tax, the parallel tax system that was intended to prevent tax sheltering but now threatens millions of middle-class families with higher taxes and more complexity. Millions of taxpayers are required to calculate their taxes under two systems -- the regular tax code and the AMT -- and pay the higher sum. Because the AMT is not indexed for inflation, it threatens more middle-class families every year.

Congress has repeatedly passed temporary solutions that exempt most of the middle class from the AMT, but McCain would go further and repeal the AMT entirely. This approach would cost $60 billion more a year than the temporary patches do, and 57 percent of that money would flow to the top 1 percent of households. McCain could have solved both the cost and fairness problems by replacing the AMT with a modest surtax on the households benefiting from its repeal, but he did not. Once again, he chose all dessert and no vegetables.

McCain's final tax proposal is doubling the tax exclusion for dependents, costing $65 billion and helping most families with children. In essence, each family would be able to deduct an additional $3,500 for each child. This means that a millionaire, who is in the 35 percent tax bracket, would get $1,225 per child, while a steelworker, who is in the 15 percent tax bracket, would get $525. Families in poverty would get nothing because they pay no income taxes, even though they pay thousands in payroll and sales taxes.

Here, too, McCain had alternatives. Liberals have suggested consolidating tax benefits for children into a simpler, unified credit that is especially beneficial to working-class families who do not receive the earned income tax credit. Similarly, "Sam's Club conservatives" Ross Douthat and Reihan Salam have suggested baby bonuses to help new families with children.

If McCain had taken these alternatives, his tax plan would still be costly but it would have had more for families and less in corporate giveaways. He could have railed with equal passion for tax cuts and for tax reform; for toughness on corporate special interests and fairness and growth for ordinary businesses and families.

To pay for his $300 billion a year in tax cuts, McCain has made only two significant proposals. He would freeze discretionary spending besides that on defense and veterans, saving about $15 billion but hurting good programs and bad, and he would eliminate earmarks, saving as much as $18 billion a year.

McCain initially claimed that eliminating earmarks would save $100 billion, but abandoned that claim after Scott Lilly pointed out that his figure included the entire Israel aid budget as well as military housing. Even the $18 billion figure is inflated since McCain now admits that some of these earmarks have value, like the ferry in the depressed Delta community he visited last week.

To pay for the rest of his tax cuts -- some $270 billion, nearly 90 percent of the total -- McCain turns to obfuscation. He promises to review a White House list of wasteful spending and a Treasury Department list of corporate tax loopholes and create a blue-ribbon commission that will, presumably, draw up another list that will need further review. But so far he has not endorsed actually cutting any programs on these lists.

Depending on your perspective, McCain's agenda is either empty or terrifying. It is empty in the sense that McCain offers an array of budget-cutting gimmicks that dwarf Reagan's magic asterisk. But McCain's tax cuts are terrifying because, as Jared Bernstein has argued in these pages, they would eventually trigger a budgetary crisis that transforms deep spending cuts from unthinkable to inevitable.

It's hard to know if McCain is intentionally pursuing a dramatic downsizing in the government role, but it's clear to his supporters. Conservative activist Grover Norquist -- who once feuded with McCain but now praises his tax agenda -- has been clear about his desire to shrink government "down to the size where we can drown it in a bathtub." Marxists used to say "the worse the better," aiming to "heighten the contradictions of capitalism." This is the Norquist approach to our budget these days, and the implicit logic in McCain's as well.

McCain's strength as a candidate is rooted in his claim that he is a man who talks honestly and stands up to special interests. But now, on the central issue of this election, he has an agenda that does neither. With corporate giveaways and phony freezes and scrubs, McCain's tax agenda undermines his core political appeal"

Whoops............................

Posted by: AlexP1 | August 15, 2008 11:24 AM | Report abuse

Take a course in Economics...there is a reason the top 20% of the weathiest people in our country receive 50% of the income and wealth.....it is called GREED.

Until change is made in the distribution of income is changed, our country will not prosper. Middle-class American degradation caused by poor American leadership.

THEY ALSO PAY 90, YES 90% PERCENT OF THE TAXES! AND CREATE ALL, YES ALL THE JOB'S.
WHAT YOU JUST DESCRIBED IS SOCIALISM NOT DEMOCRACY, SINCE WHEN DID PROFIT BECOME A DIRTY WORD?

Posted by: Bob | August 15, 2008 11:21 AM | Report abuse

Democratic rhetoric! Educate yourselves! Obama will drive OUR country into the ground the same way our so called congress is doing now. (11% approval rating)Shocked? Don't be! Dem's are on vacation, while the Republicans wait for a vote on energy independence, within the halls of the Capitol. (see that on the news?) One more thought, "it is the declaration of INDEPENDENCE, not DEPENDENCE!"


You are wrong on a few different points.

First, Our country is already driven into the ground with the 500 billion dollar debt that GWB has created.

Second, Obama's budget will save us 2 TRILLION dollars more then McCain in 10 years. So who is being more economicly responsible? The guy paying bills, or the guy racking up credit cards?

Dems are on vacation because it was scheduled. They also understand the decision for offshore drilling is in the hands of the next president. Furthermore, the vote is not on energy independence, it is on offshore drilling, which has been proven to not effect america's dependence on foreign oil by more then 2-3%.

If you beleive that the democrats are against energy independence, then you are very easily convinced by bad liars. Energy indenpendace can only result in renewable energies, and national reduction in energy usage. Drilling simply WILL NOT effect our energy independence.

Please research things before you create an opinion. If you find yourself beleiving McCain's ads, even while EVERYONE says they are blanted lies, do you think that EVERYONE is wrong except you?

Posted by: Tim | August 15, 2008 11:17 AM | Report abuse

Take a course in Economics...there is a reason the top 20% of the weathiest people in our country receive 50% of the income and wealth.....it is called GREED.

Until change is made in the distribution of income is changed, our country will not prosper. Middle-class American degradation caused by poor American leadership.

Posted by: Patrick | August 15, 2008 11:15 AM | Report abuse

Agreed. Trickle down economics does not work. When poor people get money they spend it right away, aka boosting consumer spending, business profits, which causes a need for higher production, jobs, and ultimately economic growth. When rich people get more money, they invest it so they can have more money. But which business do you invest in when consumers have no money to buy the products that your business sells?

Trickle down economics is foolish. We have history to prove it. However it does have an immediate effect on increasing the national deficit. Wouldn't it be nice if Americans could use that extra 20% of all taxes paid that currently goes to interest on debt to fund real economic growth? Or improve the quality of life for Americans with better government health or education. What about lowering taxes, as the extra surplus could be used for tax breaks instead. Or for supporting entrepreneurs with more SBA money, that could really spark progress.

Nobody likes to pay high taxes, especially me. But running huge government deficits is terribly irresponsible and could ultimately destroy this country. Time and time again Empires have fallen for one primary reason, debt. From the Roman Empire to the USSR. This is a serious crisis. Although Barack is facing it in the right way, neither president's plan will have a truly significant impact.

Also, I agree. Barack's plan will only help drive oil prices higher.

Posted by: Chris Brown | August 15, 2008 11:12 AM | Report abuse

Trickle down economics is basicly the rich drink all the koolaid, then the poor get to drink their urine.

Trickle down economics is like saying, "give me all the money now, and maybe some of it will fall out of my hands, for the poor to fight over."

Republicans love trickle down politics. It allows them to get to the spoils long before anyone else can.

Why do we live in a country where poor people suffer, and then mindlessly vote to increase their own suffering? Why do these people hold themselves down?

The reason is poor education. Republicans hold back inner city schools, so that the children of tomorrow are too ignorant to see that they are slaves to the rich.

Posted by: Tim | August 15, 2008 10:56 AM | Report abuse

Democratic rhetoric! Educate yourselves! Obama will drive OUR country into the ground the same way our so called congress is doing now. (11% approval rating)Shocked? Don't be! Dem's are on vacation, while the Republicans wait for a vote on energy independence, within the halls of the Capitol. (see that on the news?) One more thought, "it is the declaration of INDEPENDENCE, not DEPENDENCE!"

Posted by: Bob | August 15, 2008 10:53 AM | Report abuse

Since MCCain does not understand economics, how does he find the means to predict economic disaster if Obama is selected?
Is he still guided by Gramm and the mortgage bankers?

Does McCain LIKE the Bush result? 2000 Euro was worth 70 cents.
Now the dollar requires $1.50 to get one Euro.

WOW!! MCCain's only weapon is lies.

Posted by: Bruce | August 15, 2008 10:52 AM | Report abuse

Some say Obama's plan will raise the National Debt about $3 Trillion and McCain's plan will raise the National Debt by over $5 Trillion.

Then again There are More Americans who make less than $250,000. Their tax breaks will buy more goods and services stimulating our stagnant economy. Why else did Republicans and Bush refund all that Tax money? More people with more money creates jobs. CEOs with more money that ends up in the stock market only makes themselves richer.

Trickle Down is VooDoo economics that didn't work for Reagan or Gee Dubya.

George H W Bush raised taxes trying to offset Reagan's blunder.

Posted by: Donaldd | August 15, 2008 10:26 AM | Report abuse

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