traveler - 29 April 2008 06:56 AM
Bryan - 28 April 2008 05:00 PM
You must not think you’re paying enough for energy and food.
Either Clinton or Obama will be disastrous for domestic policy. My local paper blasted McCain’s economic policy because it didn’t do enough to reduce the deficit. For some reason they’re silent about the billions in new spending proposed by each of the Democratic candidates.
If the answer is higher taxes, then be prepared to see a shrinking economy. That’s how it works.
The price of energy and food cannot be separated. The price of energy seems to have gone up a bit in the last 7+ years.
and I’ll raise you a
As I wrote: “Three people.” You say Clinton and Obama will be disatrous for the domestic policy - apparently due to spending. Do you believe McCain’s 100 year war will do the economy good?
Yes, actually, but it has more to do with his serious approach to the budget and entitlements along with his advocacy of nuclear energy. He’s also coming around to a free market approach to energy (I hope--he’s wrong on ANWR).
We would have a couple of extra bucks laying around if they weren’t spent on a lie-based war, no?
Sure, but instability in the Middle East, such as we would have if sectarian violence had been left to fester (the position of American left over the last few years) would affect markets and oil prices. The emphasis on ethanol production has as much to do with rising food prices as any other factor--and the party on the left is pushing that quite directly.
And if you go back to the start of the war the WMD claims were based on faulty intelligence. Not lies on the part of the political leadership.
Please don’t pretend to tell me how it works, as I have not recognized you as an expert.
You’re free to ignore what I say, but I’m not going to muzzle myself simply because of your closed mind!
Taxes are certainly not the only way to move money around. Taxes move money from citizens’ pockets to government. Increased taxes on the very wealthy do not bother me.
Then you don’t understand the economy. The wealthy provide capital for investment. They don’t bury their money in the back yard. They take risks and create jobs with it. You tax that money and you restrict the available capital for investment. That raises the price of capital (loans become more expensive).
I see some windfall profits in the oil industry that might help a bit, but it might be better to tax those profits as an excess profits tax rather than a windfall tax since it seems reasonable to view the profits as wartime profits. These are just ideas because I don’t know how “it” works precisely; nobody does. Those who say they do scare me.
Then vote for McCain. He’s the candidate who says he’s not an expert on the economy while Obama (I’m not sure about Clinton) has brought up McCain’s statement to ridicule him for it. Obama should therefore scare you while McCain should make you comfortable. Plus you apparently can’t know that the Iraq War is hurting the economy without scaring yourself.
Tax windfall profits and you’ll be taxing everyone who owns stock in an oil company (including blue collar guys who are invested in 401-Ks with money resting in oil stocks). You put shackles on oil companies’ ability to search for new sources of oil and develop new sources of energy. With profits capped with a windfall profits tax, investment in oil makes less sense, leading to decreased supply (* higher price).
*had “increased demand” in there, but it wasn’t accurate so I took it out. Flat demand with decreased supply results in higher price all by itself.