McCain Economics Weak? – Offers most Practical Economic Proposal in a Decade
By Michael Bresciani (04/16/08)
John McCain has used humor to offset those who like to say he's too old
for the job. He even pretends to be asleep when asked questions; then
suddenly snaps to attention to hear the giggles of the crowd.
In an interview carried by CNN Monday April 15, 2008 McCain answered the
questions about his age and whether he had the stamina for the job with an
invitation for anyone who doubts his stamina to come along with him on his
campaign. That silenced everyone.
The following day McCain outshined all his opponents in his bid for the
White House by outlining his economic strategy for the country. In an
Associated Press article April 15, 2008 the details of Sen. McCain’s plan
look like the most practical short and long term proposals for the economy
that anyone has heard of in a decade. McCain’s proposal has a raw common
sense appeal that is garnering the interest of everyday Americans and some
top economists for whom the economy is a strong suit.
The most appealing aspect of John McCain’s proposal is that it speaks to
the most pressing problem Americans are facing today; the price of
gasoline. Travelling to and from the job is cutting into family budgets
even without all the necessary driving that remains. Gasoline prices keep
pumping up the cost of food and consumer goods and it is suppressing the
economy faster than the present government stimulus package can bolster
it. Won’t spend has given way to can’t spend which is the opposite of
stimulus.
After seeing oil company execs feed Senate committees the “supply and
demand” speech and the “we’re investing in the search of alternative fuel
sources” diatribe to explain huge profits McCain has countered with an in
your face bit of good old American practical problem solving that can’t
easily be ignored.
McCain has warned that both of his Democratic rivals are about to spring
the single greatest tax hike in history on an unsuspecting America if
either one is elected. The “big change” that Hillary or Obama propose for
America will translate into the “big tax hike” according to McCain.
As a takeoff from the title of Barack Obama’s book “The Audacity of Hope”
published by Random House, McCain said “All these tax increases are the
fine print under the slogan of ‘hope:’ They’re going to raise your taxes
by thousands of dollars per year – and they have the audacity to hope you
don’t mind.”
Essentially what McCain is proposing should shame corporate America after
offering only status quo answers to the public and at the same time trim
big government long enough for the average Joe to make a recovery.
McCain’s proposal has many elements but the most brilliant is to cut
government taxes on gasoline during the upcoming summer months by about 19
cents per gallon for gasoline and 24 cents per gallon for diesel. McCain’s
proposals were outlined in a speech made at the prestigious Carnegie
Mellon University. He referred to the cut as a “gas-tax holiday.” Speaking
of hope, most Americans would hope that the tax cuts would become
permanent, now that’s audacity!
Included in his plan are guarantees for student loans, higher tax
exemptions (doubled) for dependent children, simpler tax systems for
filers, and the suspension of discretionary spending by anyone except the
military and vets for a period of one years time.
John McCain announced that the economy was not his strong suit less than
two weeks ago and now to almost everyone’s surprise he is putting forth
the most practical economic solution heard in a long time. Perhaps the
audacious hope that Obama speaks of will be found in Senator McCain.
American sensibility often outweighs the gravitas and the suave of the
orator; this is what is so unique about American politics. Give us some
common sense and we will give you our ear even if you don’t hold a degree
in economics from Harvard.
Rev Michael Bresciani
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