Jeffrey, McCain said he would not vote for HIS OWN BILL!!!!! He was opposed to offshore drilling, too, before he changed his mind. He was opposed to the Bush tax cuts before he changed his mind. Quit with the BS. You have not done research. You're just going by the talking points. How's it feel to be a puppet?

Very vague !! He has confused the issue because he counts health benifits as income. Is that benifits used or employer paid share? Also is that goss income or taxable? Jason Furman and Austan Goolsbee need to be consise, it is creating distrust when they are vague. D+

With gas at over four dollars a gallon and unemployment going up I am glad that McCain appears to have a little common sense about the economy and has changed his mind about drilling offshore, is for new refineries and new nuclear power plants. Obama is still pretty much against any new significant drilling, against new refineries and against nuclear power. McCain has promised not to raise capital gains tax which would only hurt the small business owner who are responsible for most of the jobs in the US. Obama is calling for raising Capital gains taxes which will hurt the small business owner and cause a lot of people to be laid off. I just hope people come to their senses and understand that Obama is not thinking about what is in the best interest of the average American. Obama actually is happy gas prices are higher and seems to be ignorant about the fact that a rise in capital gains taxes will hurt the small business owner and cause loss ofa lot of jobs.

Here are some figures about how Obama's tax hikes on small business will destroy the US economy:

If you are self employed and you have $500,000 in income per year, your federal taxes will go up by about $60,000 under Obama's tax plans. I calculate this as follows: First, Obama is going to undo the FICA wage base cap, meaning that you will have to pay 12.4% on on all of your income in excess of the FICA wage base cap of $104,000 (12.4%x ($500,000-$104,000), or $49,104). Your federal income taxes will go up by 4.6% x $250,000, or $11,500. In sum, your federal income taxes will go up by $60,000.
I know, there are many of you in the crowd who think, "Good. You deserve it, you rich rotten bugger."
But let's think with our heads and not our guts. These "self employed" people are the people who own the small businesses which creates the bulk of the new jobs in this economy.
If you own a small business and just learned you are going to have to pay $60,000 more in taxes next year, just on your income, are you inclined to hire a new worker, pay bonuses to your existing employees?
But it gets worse. You are an employer. If you have employees who earn more than $250,000 per year, you have to pay an additional 6.2% on everything they earn over $250,000 (or less, depending on how the phase outs work). So, your business is going to have to pay more in taxes too.
In short, Obama's tax hikes are gong to be a disaster for the economy.

At least that's what he's saying on this particular day. Who knows how his views will change in the future. Very wishy-washy, this Obama chap.

Gary, you are just a slime ball trying to scare the American voters. You are just thinking of yourself but not the generality of other Americans. First your idea of Economics is zero from any economical point of view. The truth is there is no way you can stimulate the economy now without stimulating the buying power of the middle-class and other low income earners. They are the ones that spur growth and not the other way round. The problem with the economy is low patronage. People are not buying houses, medications are not being picked up in Pharmacies, People can no longer afford a cup of coffee in Starbucks, a lot more people now shop in Wal-mart than in other stores. I can go on and on. Inflation has eaten deep into the pockets of an average American family that their take home pay can no longer take them home. As a result, there is a decline in an average standard of living. As a result to stimulate any meaningful growth, there are basically two main ways of doing this. Increase in wages from the employers which i know a person like you will never give and secondly, increase tax benefits from the Government which Barack intends in doing. The $1000 tax breaks gives you a little more money for groceries, a little more money for gas and other utilities. I can go on and on. And as a result of this, there will be more patronage for businesses like yours, more money for banking industries, more money for Government in form of taxes, more money for the oil companies, more money for people that want to set-up businesses like yours as a result of more money for the banking industries. I can go on and on. Now I understand why Republicans make education difficult in this country. In that way, people will never know the truth. In economics, you reason both ways and not one-sided. Weigh the risks and benefits and always make your choice in a scale of preference. That is when we talk of Real cost and Opportunity cost. The only draw back is taxing the profits of oil companies but then eveything ends up having a null effect. They may have their profits taxed but at the same time, they will end up earning more from increased patronage.

At least that's what he's saying on this particular day. Who knows how his views will change in the future. Very wishy-washy, this Obama chap.

Posted by: squeenter squillo | Aug 14, 2008 11:20:51 PM
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Actually, you're wrong.

Obama didn't say anything. His economic advisers did.

That way, later on, he can totally disown Furman/Goolsbee's statements in the op-ed piece, and claim that they were acting on their own and made totally unauthorized statements.

In other words, throw them under the bus. Must be getting pretty crowded under there.

And FWIW, neither of these clowns running for President has a clue about economics or markets. The fact that their supporters extol the positives of either candidates plan also indicates how well their supporters understand economics and markets.

Messiah

And it came to pass, in the eighth year of the reign of the evil Bush the Younger (The Ignorant), when the whole land from the Arabian Desert to the shores of the Great Lakes had been laid barren, that a Child appeared in the wilderness.

The Child was blessed in looks and intellect. Scion of a simple family, offspring of a miraculous union, grandson of a typical white person and an African peasant. And yea, as he grew, the Child walked in the path of righteousness, with only the occasional detour into the odd weed and a little blow.

When he was twelve years old, they found him in the temple in the City of Chicago, arguing the finer points of community organisation with the Prophet Jeremiah and the Elders. And the Elders were astonished at what they heard and said among themselves: “Verily, who is this Child that he opens our hearts and minds to the audacity of hope?”

In the great Battles of Caucus and Primary he smote the conniving Hillary, wife of the deposed King Bill the Priapic and their barbarian hordes of Working Class Whites.

And so it was, in the fullness of time, before the harvest month of the appointed year, the Child ventured forth - for the first time - to bring the light unto all the world.

He travelled fleet of foot and light of camel, with a small retinue that consisted only of his loyal disciples from the tribe of the Media. He ventured first to the land of the Hindu Kush, where the Taliban had harbored the viper of al-Qaeda in their bosom, raining terror on all the world.
And the Child spake and the tribes of NATO immediately loosed the Caveats that had previously bound them. And in the great battle that ensued the forces of the light were triumphant. For as long as the Child stood with his arms raised aloft, the enemy suffered great blows and the threat of terror was no more.

From there he went forth to Mesopotamia where he was received by the great ruler al-Maliki, and al-Maliki spake unto him and blessed his Sixteen Month Troop Withdrawal Plan even as the imperial warrior Petraeus tried to destroy it.

And lo, in Mesopotamia, a miracle occurred. Even though the Great Surge of Armour that the evil Bush had ordered had been a terrible mistake, a waste of vital military resources and doomed to end in disaster, the Child's very presence suddenly brought forth a great victory for the forces of the light.

And the Persians, who saw all this and were greatly fearful, longed to speak with the Child and saw that the Child was the bringer of peace. At the mention of his name they quickly laid aside their intrigues and beat their uranium swords into civil nuclear energy ploughshares.

From there the Child went up to the city of Jerusalem, and entered through the gate seated on an ass. The crowds of network anchors who had followed him from afar cheered “Hosanna” and waved great palm fronds and strewed them at his feet.

In Jerusalem and in surrounding Palestine, the Child spake to the Hebrews and the Arabs, as the Scripture had foretold. And in an instant, the lion lay down with the lamb, and the Israelites and Ishmaelites ended their long enmity and lived for ever after in peace.

As word spread throughout the land about the Child's wondrous works, peoples from all over flocked to hear him; Hittites and Abbasids; Obamacons and McCainiacs; Cameroonians and Blairites.

And they told of strange and wondrous things that greeted the news of the Child's journey. Around the world, global temperatures began to decline, and the ocean levels fell and the great warming was over.

The Great Prophet Algore of Nobel and Oscar, who many had believed was the anointed one, smiled and told his followers that the Child was the one generations had been waiting for.

And there were other wonderful signs. In the city of the Street at the Wall, spreads on interbank interest rates dropped like manna from Heaven and rates on credit default swaps fell to the ground as dead birds from the almond tree, and the people who had lived in foreclosure were able to borrow again.

Black gold gushed from the ground at prices well below $140 per barrel. In hospitals across the land the sick were cured even though they were uninsured. And all because the Child had pronounced it.

And this is the testimony of one who speaks the truth and bears witness to the truth so that you might believe. And he knows it is the truth for he saw it all on CNN and the BBC and in the pages of The New York Times.

Then the Child ventured forth from Israel and Palestine and stepped onto the shores of the Old Continent. In the land of Queen Angela of Merkel, vast multitudes gathered to hear his voice, and he preached to them at length.
But when he had finished speaking his disciples told him the crowd was hungry, for they had had nothing to eat all the hours they had waited for him.
And so the Child told his disciples to fetch some food but all they had was five loaves and a couple of frankfurters. So he took the bread and the frankfurters and blessed them and told his disciples to feed the multitudes. And when all had eaten their fill, the scraps filled twelve baskets.

Thence he travelled west to Mount Sarkozy. Even the beauteous Princess Carla of the tribe of the Bruni was struck by awe and she was great in love with the Child, but he was tempted not.

On the Seventh Day he walked across the Channel of the Angles to the ancient land of the hooligans. There he was welcomed with open arms by the once great prophet Blair and his successor, Gordon the Leper, and his successor, David the Golden One.

And suddenly, with the men appeared the archangel Gabriel and the whole host of the heavenly choir, ranks of cherubim and seraphim, all praising God and singing: “Yes, We can.”

vuzous,

You speak like Obama... all words and no substance.

How long does a $1000 last these days? And dumping this money in one go only increases inflation. Like you, I too could "go on and on".

Face the truth. Obama relies on a large vote bank comprising of lazy and parasitic people who want money for nothing.

That's why they are happy with Obama -- for they think he will rob the rich to feed the poor and thus bring about the social justice they yearn.

I'm glad to see the Obama campaign fighting back, the Democrats can't let the GOP continue spreading their lies.

Obama/Biden 2008 and 2012

Repubs keep saying that there vote for McCain isn't a racist vote, and while not every one is, look at these posts. These are the type of people that we need to save our country from.

I am small business owner and know 5% increase does not make big diffrecnce for lgitimate people as long as my tax pays for helping americans not for dumb wars that Bush started and MCBush wants to continue or start. MCBush is totally out of mind and out of touch when is continuing failed Bush policy while ignoring that 81% of
the nation says America has pretty seriously gotten off-track.

Only those making over $250,000 will see a tax increase under Obama's tax plan. Sen. Obama is focused on cutting taxes for middle-class families and small businesses, and investing in key areas like health, innovation and education. -- {{ In contrast, John McCain offers what would essentially be a third Bush term, with his economic speeches outlining $3.4 trillion of tax cuts over 10 years beyond what President Bush has already proposed and geared even more to high-income earners. The McCain plan would lead to deficits the likes of which we have never seen in this country. It would take money from the middle class and from future generations so that the wealthy can live better today.}}

I think there's alot more hate here than knowledge about tax cuts.
Bush cut taxes as we all know, and told America to feel good about it. So now you all think that Obama is going to stick it to you.
George Bush didn't manage the American coffers wisely at all. He just handed the bill to all of our kids and grand kids. Kinda like paying that credit card bill forever.
Pay as you go was never a republican strong suit. They just pass it off to the next generation, like the landfill one town over.
You think McCain knows any better?

Think about it, people!

No matter which way you look at it the current tax system is a mess. A fine example of this was the report saying that many large companies don't pay any tax at all ( why not list them next time). Anyone who makes 250k automatically pays much more in taxes simply from the progresive nature of taxes. Since so many (some say 50% of wage earners) do not even pay taxes,coupled with corporations and other tax cheats, the only fair way is a simple flat tax on everything that is bought...no favors, no exemptions-everyone pays and contributes to the wonderful lives that we are all privaledged to live.

Obama "shifts" I love it when the MSM says McCain flip flops while Obama "shifts"..he's shifty alright

This guy Obama is scary. McCain (Who I also won't vote for) at least admitted he was not too well schooled in economics. Obama pretends that he knows something and all he knows is how to pander to voting blocks. He is clueless as to what all his nonsense means but the scary part is, he is starting to believe his own nonsense! He seems a little unsure as to how low he will go to call people rich so he can tax them more. He is currently at $250K or more year but something tells me he might lower that figure if he gets elected. One thing you can bank on is that it will not fall below around $180K to be called rich. That's the amount that morons Pelosi and Reid make for being the head criminals in Congress! LOL Yea, you are rich if you make $1.00 more per year than the amount made by members of Congress! Also, all of this is absolute B.S. anyway if the tax code is not scapped and re-constructed. Obama blows.

Just reading these comments scares me!i AM NOT WORRIED ABOUT FOREIGN TERRORISTS! YOU ARE RIGHT HERE! The Republicans have divided our Country! The mess we are in now is a Republican mess and no matter who gets in the White House they will not be able to clean it up in 4 years! Whoever gets in needs our united support. Lets get some accountability here and now for the crooks and criminals in our White House! WHY DID BUSH PURCHASE 100,000 ACRES IN PARAGUAY? Not for a vacation spot! Wake up people and if you happen to be one of the racists bigots in some of the above comments I feel sorry for you, you are the ones who probably voted for this administration! The worst in the history of Our Country! I just hope to God there are not too many of you out there! I DONT NEED THE SUPREME COURT TO PICK MY PRESIDENT (FOR ONE TIME ONLY) REMEMBER THAT? I AM A PATRIOTIC AMERICAN WHO NEVER APPROVED OF THIS WAR, JUST LIKE THE DIXIE CHICKS AND LOOK WHAT YOU DID TO THEM, ONLY NOW THEY ARE BACK ON TOP! YEAH

It is what it is! There are millions of American's in foreclosure. THATS NOT CHANGE, THATS MORE OF THE SAME. The price of gas keeps rising. THATS NOT CHANGE, THATS MORE OF THE SAME. American's are making less, while home ownership and basic needs keep rising. THATS NOT CHANGE, THATS MORE OF THE SAME. Many American's do not have health insurance because they cannot afford it anymore. THATS NOT CHANGE, THATS MORE OF THE SAME. Women are still making less doing the same work as a man doing the same job. THATS NOT CHANGE, THATS MORE OF THE SAME. A middle income American makes less than 5 million a year??? What???? THATS NOT CHANGE, THATS MORE OF THE SAME. I think I have 7 homes but you'll have to ask my aides for specifics. THATS NOT CHANGE, THATS MORE OF THE SAME. McCain nominating a woman he'd only met one time before. (He must've borrowed some of Cindy's drugs!) One thing you can rely on when it comes to repubs. THATS NOT CHANGE, THATS MORE OF THE SAME.

All of you people need to do a little more research if you ask me.

http://econ4obama.blogspot.com/2008/01/obama-economic-policy.html

http://news.yahoo.com/s/cq/20080905/pl_cq_politics/politics2944622

www.factchecker.org

Seems to me like McCain and that ridiculous piece of cr@p he calls a running mate are the ones that are going to force this country to hit economic rock bottom. Stop listening to the talking heads and get a clue!

Ever notice that above comments by Repubs are almost all argumentum ad hominem, Dems are all about issues and facts. NeoCons are all about ME, Liberals are all about US. I think it must be a genetic thing.