Debates, Taxes, Deficits
I know some TV pundits really wanted to give John McCain a win at Wednesday's debate, just because he tried harder this time and because it's unfair to have their favorite U.S. Senator go 0-3 in presidential debates against some upstart freshman Senator. But too bad. Obama was just as cool and collected as always, while McCain was angry, seething, old, grouchy.
Obama's answers made sense. McCain rambled, he threw punches that didn't land, he annoyed the hell out of me with that stuff about Joe the Unlicensed Tax-Cheating Republican Plumber. I know Republicans are all in a tizzy about "sharing the wealth", but where I come from that's actually a good thing. When you are playing with your friends as a kid, and one kid scores a bunch of candy, you tell him to "share the wealth". Anyone who refuses is a greedy prick, which I guess is a good enough characterization of McCain and today's Republican party.
Since 1980, Republicans have believed that the wealthy should keep their wealth, and in doing so they will make smart and benevolent decisions about how to use that wealth to create jobs and increase growth. Unfortunately, it hasn't turned out that way. The rich get richer, job growth (at least under Bush) has been close to non-existent, and wages for the middle class have flatlined. The wealthy received huge tax cuts in the hopes that they would create jobs and trickle down prosperity. But they haven't fulfilled their end of the bargain, so it is time to go in a new direction. It's time to raise taxes on the rich and use that money to actually create jobs - preferably through railroad construction, infrastructure, and green jobs.
I'm actually to the left of Obama when it comes to his middle class tax cut. I don't think we should be cutting taxes for anybody right now, not with a $10 trillion debt and a $500 billion deficit every year. I'm middle class and my tax burden really isn't all that outrageous (although I somehow pay a higher percentage than Sarah and Todd Palin, but that's another story). I think the priority of the next administration should be raising taxes on the wealthy, and particularly the super-wealthy who have made out like bandits. Raise the estate tax to 90% for estates over $10 million - let the dead pay more taxes.
But of course, the responsibility should go both ways. Just as the government could increase revenues from the wealthy, they must also be wiser about spending tax dollars. This is something Clinton and Gore did for eight years, streamlining government and keeping defense spending flat. That's how they managed to engineer a surplus. I think Obama should borrow McCain's hatchet and take it to the defense budget, root out fraud in Medicare and Social Security, and go after all the private contractors (military and otherwise) who have been fleecing taxpayers for years. Oh, and fully fund the IRS to get those wealthy tax cheats.
Not sure how I got off on this tax policy tangent, but let me get back to the debate. McCain did himself some good by mainstreaming the Bill Ayers crap, putting it into the conversation, but he also undermined himself by appearing angry and unsteady. It was very much Bob Dole circa 1996. Americans want to like their president and McCain simply doesn't pass that test.
I don't think the debate was a game-changer for either candidate, and so going forward the race will either stabilize or tighten up slightly barring any unforeseen October surprises.
Obama's answers made sense. McCain rambled, he threw punches that didn't land, he annoyed the hell out of me with that stuff about Joe the Unlicensed Tax-Cheating Republican Plumber. I know Republicans are all in a tizzy about "sharing the wealth", but where I come from that's actually a good thing. When you are playing with your friends as a kid, and one kid scores a bunch of candy, you tell him to "share the wealth". Anyone who refuses is a greedy prick, which I guess is a good enough characterization of McCain and today's Republican party.
Since 1980, Republicans have believed that the wealthy should keep their wealth, and in doing so they will make smart and benevolent decisions about how to use that wealth to create jobs and increase growth. Unfortunately, it hasn't turned out that way. The rich get richer, job growth (at least under Bush) has been close to non-existent, and wages for the middle class have flatlined. The wealthy received huge tax cuts in the hopes that they would create jobs and trickle down prosperity. But they haven't fulfilled their end of the bargain, so it is time to go in a new direction. It's time to raise taxes on the rich and use that money to actually create jobs - preferably through railroad construction, infrastructure, and green jobs.
I'm actually to the left of Obama when it comes to his middle class tax cut. I don't think we should be cutting taxes for anybody right now, not with a $10 trillion debt and a $500 billion deficit every year. I'm middle class and my tax burden really isn't all that outrageous (although I somehow pay a higher percentage than Sarah and Todd Palin, but that's another story). I think the priority of the next administration should be raising taxes on the wealthy, and particularly the super-wealthy who have made out like bandits. Raise the estate tax to 90% for estates over $10 million - let the dead pay more taxes.
But of course, the responsibility should go both ways. Just as the government could increase revenues from the wealthy, they must also be wiser about spending tax dollars. This is something Clinton and Gore did for eight years, streamlining government and keeping defense spending flat. That's how they managed to engineer a surplus. I think Obama should borrow McCain's hatchet and take it to the defense budget, root out fraud in Medicare and Social Security, and go after all the private contractors (military and otherwise) who have been fleecing taxpayers for years. Oh, and fully fund the IRS to get those wealthy tax cheats.
Not sure how I got off on this tax policy tangent, but let me get back to the debate. McCain did himself some good by mainstreaming the Bill Ayers crap, putting it into the conversation, but he also undermined himself by appearing angry and unsteady. It was very much Bob Dole circa 1996. Americans want to like their president and McCain simply doesn't pass that test.
I don't think the debate was a game-changer for either candidate, and so going forward the race will either stabilize or tighten up slightly barring any unforeseen October surprises.


