Tuesday, April 15, 2008

Voodoo economics redux

Tax Cuts at Center of McCain Economic Plan - Senator McCain has some interesting economic ideas: in the midst of ballooning federal deficits, cut takes: elimination of federal gas taxes this summer to reinvigorate the sagging economy.

This man is such a lightweight: "People like Bill Gates and Warren Buffet don’t need their prescriptions underwritten by taxpayers,” he said. “Those who can afford to buy their own prescription drugs should be expected to do so. This reform alone will save billions of dollars that could be returned to taxpayers or put to better use.”

Well, how many people are there like Gates and Buffett?

Mr. McCain, who made no mention of his previous pledge to balance the budget by the end of his first term, outlined a long list of tax cuts he favored in the speech...

Flip, flop.

On the spending side of the ledger, Mr. McCain pledged to veto every bill that comes to his desk with earmarked pork-barrel projects in it, and to order a one-year freeze on increases in most discretionary spending — a relatively small portion of the overall federal budget — while he reviews every federal program, department, and agency.

Spin; no wonder Clinton wants to run against him; this guy is ready for plucking.

In his speech, Mr. McCain also reiterated his support of free trade, saying that while it poses challenges to the economy it also offers benefits by opening new markets to American goods. “That is why I object when Senators Obama and Clinton and others preach the false virtues of economic isolationism,” he said. “Senator Obama recently suggested that Americans are protectionist because they are bitter about being left behind in the global economy. Well, what’s his excuse for embracing the false promises of protectionism?”But while he called for a slew of tax cuts, Mr. McCain also suggested that he would be willing to break from some of the economic policies of the Reagan and Bush administrations. “In all of this, it will not be enough to simply dust off the economic policies of four, eight, or 28 years ago,” he said. “We have our own work to do. We have our own challenges to meet.”

In trying to cover every base, he covers none. Loser.

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