Phil Gramm is back with an interesting column in the Wall Street Journal explaining that the presidential candidates' economic policies have already been tried in various states:
"Mr. Obama would stimulate the economy by increasing federal spending. Mr. McCain would stimulate the economy by cutting the corporate tax rate. Mr. Obama would expand unionism by denying workers the right to a secret ballot on the decision to form a union, and would dramatically increase the minimum wage. Mr. Obama would also expand the role of government in the economy, and stop reforms in areas like tort abuse."
"The states have already tested the McCain and Obama programs, and the results are clear. We now face a national choice to determine if everything that has failed the families of Michigan, Ohio and Illinois will be imposed on a grander scale across the nation. In an appropriate twist of fate, Michigan and Ohio, the two states that have suffered the most from the policies that Mr. Obama proposes, have it within their power not only to reverse their own misfortunes but to spare the nation from a similar fate."
2 comments:
Phil Graham, the nation's leading whiner, followed closely by McCain and Palin, are at it again.
Graham's special tax dodges for the wealthy evidently are his economic solution to increasing the circulation of money.
I wonder if Graham has ever heard of proportional taxation? Probably not, and likely doesn't want to.
Proportional taxation is another one of those pesky American values that are hard for the economically favored few to swallow. It would limit their ability to exploit those not as fortunate.
Gramm. Not Graham. Proportional taxation? Are you thinking of progressive taxation? It is what we have now. More income pay a higher percentage. Right now top third income earners pay 99% of the income tax. Corporate tax is higher than almost every other country. Taxes get passed on to the customer - just as you would do if you wanted to stay in business.
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