I’ve been debating whether to post this all day… Yes, it’s from the McCain campaign but ultimately I think it would be foolish to dismiss the opinion of a group of experienced economists out of hand.<\/p>\n
\nEconomists Statement On Barack Obama’s Risky Economic Proposals <\/strong><\/h3>\n
100 ECONOMISTS WARN THAT WITH CURRENT WEAK FINANCIAL CONDITIONS BARACK OBAMA’S PROPOSALS RUN A HIGH RISK OF THROWING THE US ECONOMY INTO A DEEP RECESSION<\/strong><\/p>\n
ARLINGTON, VA\u00a0— Today, McCain-Palin 2008 released the following statement signed by 100 distinguished and experienced economists at major American universities and research organizations, including five Nobel Prize winners Gary Becker, James Buchanan, Robert Mundell, Edward Prescott, and Vernon Smith. The economists explain why Barack Obama’s proposals, including “misguided tax hikes,” would “decrease the number of jobs in America.” The prospects of such tax rate increases under Barack Obama are already harming the economy. The economists conclude that “Barack Obama’s economic proposals are wrong for the American economy.” The proposals “defy both economic reason and economic experience.”<\/p>\n
The full economists’ statement on Barack Obama’s economic proposals and a complete list of economists who support it follows:<\/p>\n
Barack Obama argues that his proposals to raise tax rates and halt international trade agreements would benefit the American economy. They would do nothing of the sort. Economic analysis and historical experience show that they would do the opposite. They would reduce economic growth and decrease the number of jobs in America. Moreover, with the credit crunch, the housing slump, and high energy prices weakening the U.S. economy, his proposals run a high risk of throwing the economy into a deep recession. It was exactly such misguided tax hikes and protectionism, enacted when the U.S. economy was weak in the early 1930s, that greatly increased the severity of the Great Depression.<\/em><\/p>\n
We are very concerned with Barack Obama’s opposition to trade agreements such as the pending one with Colombia, the new one with Central America, or the established one with Canada and Mexico. Exports from the United States to other countries create jobs for Americans. Imports make goods available to Americans at lower prices and are a particular benefit to families and individuals with low incomes. International trade is also a powerful source of strength in a weak economy. In the second quarter of this year, for example, increased international trade did far more to stimulate the U.S. economy than the federal government’s “stimulus” package. Read the rest…<\/a><\/em><\/p><\/blockquote>\n
For a side by side comparison<\/a> of the candidates tax proposals visit the Tax Foundation<\/a>.<\/p>\n
As an aside have you ever wondered who pays income taxes? Take a look at this<\/a> and this<\/a> for the answer.<\/p>\n","protected":false},"excerpt":{"rendered":"
I’ve been debating whether to post this all day… Yes, it’s from the McCain campaign but ultimately I think it would be foolish to dismiss the opinion of a group of experienced economists out of hand. Economists Statement On Barack Obama’s Risky Economic Proposals 100 ECONOMISTS WARN THAT WITH CURRENT WEAK FINANCIAL CONDITIONS BARACK OBAMA’S […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[57,1363,40,1365],"class_list":{"0":"post-725","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-barack-obama","9":"tag-economy","10":"tag-john-mccain","11":"tag-taxes","12":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-bH","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":732,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/10\/09\/bleak-outlook-economists-see-three-straight-quarters-of-economic-contraction\/","url_meta":{"origin":725,"position":0},"title":"Bleak Outlook: Economists See Three Straight Quarters of Economic Contraction","author":"Jeff","date":"October 9, 2008","format":false,"excerpt":"From the Wall Street Journal: The U.S. economy has sunk into a recession and government action is critical to stem the damage, according to economists in the latest Wall Street Journal forecasting survey. On average, the 52 economists surveyed now expect gross domestic product to contract in the third and\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2097,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/04\/30\/barack-obama-on-the-deficit-i-didnt-do-it\/","url_meta":{"origin":725,"position":1},"title":"Barack Obama On The Deficit: I Didn’t Do It…","author":"Jeff","date":"April 30, 2009","format":false,"excerpt":"Barack Obama's 'It wasn't me' protestations about the ballooning federal deficit are so patently false even the Associated Press is calling him on it: WASHINGTON (AP) - \"That wasn't me,\" President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3175,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/01\/14\/train-wreck-retail-sales-fall-jobless-claims-rise-foreclosures-set-record-and-the-dollar-crisis\/","url_meta":{"origin":725,"position":2},"title":"Train Wreck: Retail Sales Fall, Jobless Claims Rise, Foreclosures set Record and the Dollar Crisis","author":"Jeff","date":"January 14, 2010","format":false,"excerpt":"Whew, I can't believe I got all that in headline! Anyone who has read this blog for any period of time knows I'm a pessimist on the economy, in short I don't see any reason to be hopeful: Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2976,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/11\/07\/ap-what-recovery\/","url_meta":{"origin":725,"position":3},"title":"AP: What Recovery?","author":"Jeff","date":"November 7, 2009","format":false,"excerpt":"The Associated press has been one of the President's biggest cheerleaders but with unemployment now topping ten percent even they're asking What recover? Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1594,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/02\/28\/larry-kudlow-obama-declares-war-on-investors-entrepreneurs-businesses-and-more\/","url_meta":{"origin":725,"position":4},"title":"Larry Kudlow: Obama Declares War on Investors, Entrepreneurs, Businesses, And More","author":"Jeff","date":"February 28, 2009","format":false,"excerpt":"In hard hitting piece post yesterday on CNBC.com veteran economist Larry Kudow takes President Barack Obama to task over his economic policies: Let me be very clear on the economics of President Obama\u2019s State of the Union speech and his budget. He is declaring war on investors, entrepreneurs, small businesses,\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2851,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/10\/10\/weekend-briefing\/","url_meta":{"origin":725,"position":5},"title":"Weekend Briefing – Saturday, October 10, 2009","author":"Jeff","date":"October 10, 2009","format":false,"excerpt":"I'm going to be tied up with family all weekend but here's a collection of must read links: CBO: Budget deficit hit record $1.4T in 2009 - Associated Press Proposals to create jobs add up to second stimulus - Associated Press A Nobel for Obama - New York Sun Barack\u2026","rel":"","context":"In "Afghanistan"","block_context":{"text":"Afghanistan","link":"https:\/\/www.jasetaro.com\/blog\/category\/afghanistan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=725"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/725\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}