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Classical Economic Principles - McCain vs Obama

 
 
Reply Sun 21 Sep, 2008 01:17 am
Classic Economic Principles:

1) Low taxes
2) Free markets
3) Protection of private property
4)A stable price environment.

McCain and Obama generally agree on #4 -Neither of them have argued against an independent Federal Reserve.

Clearly, Obama is not a proponent of low taxes; McCain is.

Obama has promised to renegotiate NAFTA (notwithstanding his economic advisor's assurance to Canada that it was all a political ploy). By all accounts, McCain is pretty close to a free marketeer.

Obama has promised to appoint Supreme Court justices who will conform to the judicial philosophy of those justices who have made a mockery of individual property rights.

China and India have embraced classical economic principle and by all accounts they have joined the US in the top three economic powers in the world. Well below them are the economies of Japan, Germany and the UK (All of which who have abandoned classical economic principles).

If you recognize that low taxes, free markets, protected personal property and a stable price evironment are the essentials for economic prosperity, AND you support Obama, then you must ask yourself:

Is Obama disregarding classical economic principles because his ideological/philosophical/poltical interests tell him to do so?

Is Obama's disregard because he has been convinced by anb altertative school of economic thought. One that claims we can have our cake and eat it too.

Either way, you need to vote for McCain because our economics are the primary concern for all voters.,


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kuvasz
 
  1  
Reply Sun 21 Sep, 2008 07:28 am
@Finn dAbuzz,
Free markets, huh?

So how's that working out for America?

"Free" is the mother of all marketing catch-words

It sounds good, it's hard to knock, and it's utterly meaningless until you specify "free from what?"

"The Free Market" (tm) is just as much a pile of branding bull **** as "The Free World." The latter includes nations that are cheerfully dictatorial, while the former includes near-monopolies like Microsoft.

Just to give you a clue, There are no free markets. Never have been. The difference now is that the utter fuckups and jerkoffs on Wall Street have ripped away the thin veneer that has shielded what they were really about, their real relationship with government, from the one-fodder-units aka "citizens."

What we have, and what we have had since Reagan, and from when the Repukes accelerated the process in the 90's, is classic, pure, unadulterated Mussolini-Style Facism.

The government and the tax dollars we pay in exist to serve corporations. Not the people, not the common good, not civil society, but to make the wealthy few wealthier and indemnify their wealth. They exist to enable their every profligate scheme, many ripped from the annals of organized crime history.

If you disagree, consider the following item:

According to the Wall Street Journal,

http://online.wsj.com/article/SB122186674316558873.html

finance industry lobbyists are already giving orders to Republican hill staffers not to allow any meaningful reforms or protections for taxpayers. So, just the money. No strings attached.

Quote:
Securities houses don't want executive salary limits for banks that participate in the rescue.

House Republican staffers met with roughly 15 lobbyists Friday afternoon, whose message to lawmakers was clear: Don't load the legislation up with provisions not directly related to the crisis, or regulatory measures the industry has long opposed.

"We're opposed to adding provisions that will affect [or] undermine the deal substantively," said Scott Talbott, senior vice president of government affairs at the Financial Services Roundtable, whose members include the nation's largest banks, securities firms and insurers.

A deal killer for the group: a proposal that would grant bankruptcy judges new powers to lower the principal, interest rate or both on a mortgage as part of a bankruptcy proceeding.


Imagine that. Somebody comes to you hat in hand asking for $700,000,000,000, but they don't want any stipulations on how they use the money!

And we, the one-fodder-units, get The War on Drugs and The War on Terror, DHS, ICE, The FBI, The IRS, Government Intrusion into our every financial transaction, taxes and fees and Government Spying for our trouble, to keep us in place and feeding this monster.

btw: Obama will lower taxes on all but the rich. Either you are one, or if not, you are too ******* stupid to recognize that placing more money into the hands of people who are going to have to spend it simply to live and circulate it around the economy yields an eight times multipler affect and is more beneficial to the economy than giving the money to people who will invest the money in China, India or Europe.

That's what will generate more jobs, not some soak the poor and working class voo doo ecomomic theory. Because whenever the Republicans man the White House they don't measure up to the Democrats in producing a healthy ecomomy and generate business confidence for job growth.

Simply, the Democrats are better for the economy, and there is empirical evidence for it.

The Ranking of the Last 13 Presidents by Job Creation (as of 2002)

1) Roosevelt (1933-45): +5.3%

2) Johnson (1963-69): +3.8%

3) Carter (1977-81): +3.1%

4) Truman: (1945-53): +2.5%

5) Kennedy (1961-63): +2.5%

6) Clinton (1993-2001): +2.4%

7) Nixon (1969-75): +2.2%

8) Reagan (1981-89): +2.1%

9) Ford (1975-77): +1.1%

10) Eisenhower (1953-61): +0.9%

11) Bush (1989-93): +0.6%

12) Bush (2001-present): -0.7%

13) Hoover (1929-33): -9.0%

See any pattern?

Quote:
1) Economic growth averaged 2.94% under Republican Presidents and 3.92% under Democratic Presidents.

http://www.pla.blogspot.com/2002_10_27_pla_archive.html#83853463.

2) Inflation averaged 4.96% under Republicans and 4.26% under Democrats.

http://www.pla.blogspot.com/2002_10_27_pla_archive.html#83638247.

3) Unemployment averaged 6.75% under Republicans and 5.1% under Democrats.

http://www.pla.blogspot.com/2002_11_03_pla_archive.html#84200764.

4) Total federal spending rose at an average rate of 7.57% under Republican Presidents and at an average rate of 6.96% under Democratic Presidents.

http://www.pla.blogspot.com/2002_11_03_pla_archive.html#84200764this post.

5) Total non-defense federal spending rose at an average rate of 10.08% under Republicans and at an average rate of 8.34% under Democrats.

http://www.pla.blogspot.com/2002_11_03_pla_archive.html#84200764.

6) During the forty-year period studied, the National Debt grew by $3.8 trillion under budgets submitted by Republican Presidents and by $720 billion under budgets submitted by Democratic Presidents. Stated differently, the average annual deficit under Republicans was $190 billion; and, while under Democrats, it was $36 billion.

http://pla.blogspot.com/2002_10_13_pla_archive.html#83095382.

7) During the period studied, under Republican Presidents the number of federal government non-defense employees rose by 310,000, while the number of such employees rose by 59,000 under Democrats.

http://pla.blogspot.com/2002_10_20_pla_archive.html#83472679

http://sideshow.me.uk/annex/JustForTheRecord.htm


Those facts make it difficult to argue that Republican Presidents have done a better job than Democratic Presidents in managing the economy. Indeed, if you can suggest a measure of economic performance in which Republican Presidents have done better than Democratic Presidents, please put up or shut up your crazy talk that has no basis in objective reality.

0 Replies
 
DrewDad
 
  1  
Reply Sun 21 Sep, 2008 08:53 am
@Finn dAbuzz,
Finn dAbuzz wrote:

Classic Economic Principles:

1) Low taxes

I think you'll find that the principle commonly associated with "low taxes" is "low spending."

McCain's rating on "low spending" should be EPIC FAIL.
0 Replies
 
DrewDad
 
  1  
Reply Sun 21 Sep, 2008 08:56 am
@Finn dAbuzz,
Finn dAbuzz wrote:
Clearly, Obama is not a proponent of low taxes; McCain is.

Can you provide some actual documentation on how you arrived at this conclusion?

The data I've seen shows Obama is a proponent of lowering taxes on all but the wealthiest, while McCain wants to lower taxes mostly for the wealthy.
0 Replies
 
cicerone imposter
 
  2  
Reply Sun 21 Sep, 2008 10:45 am
The political pundits are now blaming Clinton for the current economic mess. ROFL because so many conservatives also believe it. It does not matter that McCain's campaign now has many of the same Mae and Mac people on his team, and "worked" in Washington DC.
BumbleBeeBoogie
 
  -1  
Reply Mon 22 Sep, 2008 09:44 am
@cicerone imposter,
http://able2know.org/topic/122904-1
0 Replies
 
 

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