The Pink Flamingo :: McCain's Economic Plan

As a student of history, I love to mangle that infamous phrase - the fool who doesn't know history is doomed to repeat it. It is rather obvious Barack Obama doesn't know history the American people, and American in general. The reason The Great Depression was made so much worse was because idiots like Barack Obama (and then they were Republicans) felt they could tax their way out of a bad economy. Lindsey compared Obama to Herbert Hoover the other day on FOX. (The Palmetto Scoop)

"...Speaking on FOX News Channel today, Sen. Lindsey Graham compared the current Democratic presidential nominee to the president who was largely remembered for triggering the worst economic period in American history.

“If you liked Herbert Hoover, you’ll love Barack Obama,” Graham said. “Hoover raised taxes during economic crisis” prior to the Great Depression...."

Sunday, on Face the Nation, Lindsey disclosed some of John McCain's economic proposals, which include major corporate tax cuts.

"..."I think it goes along the lines that now is the time to lower tax rates for investors, capital gains tax, dividend tax rates, to make sure that we can get the economy jump-started," said Republican Sen. Lindsey Graham of South Carolina....Much of Obama's improvement has been credited to the public thinking he is much better at handling the economy than McCain. Obama has criticized McCain as being erratic on his economic proposals, jumping from one idea to another.

A new plan would be designed to help McCain shore up his economic credentials. Politico, the online political news report, said more than 30 ideas had been put forward but there was no final package, although whatever developed was likely to include at least temporary tax cuts for capital gains and dividends.

"It will be a very comprehensive approach to jump-start the economy, by allowing capital to be formed easier in America by lowering taxes," Graham said on CBS' "Face the Nation."..."

The Palmetto Scoop has more:

"...The National Center for Policy Analysis released a study in January showing that “President Bush’s investment tax cuts helped stimulate the economy and increase government revenue, and raising the capital gains tax rate, as some are now proposing, would be harmful to the economy at a time when it is once again in need of stimulus.” And for the doubters, the Heritage Foundation has done a great job of dispelling the myths.

For political purposes, this plan will give McCain a substantive position that will positively juxtapose him against Obama — who plans to raise the tax on capital gains back to 20 or 28 percent (depending on when you ask him) — on the economy...."

Further, Lindsey hammered Barack Obama's policies.

"...Barack Obama was "masquerading as a centrist."

Graham said that this Wednesday's debate between Barack Obama and John McCain would allow McCain to speak to the differences between how each candidate would address the growing economic crisis, "where John can be able to show the public where he will take this economy that's hurting by keeping your taxes low and not increasing spending, and compare the records of Senator Obama, when it comes to taxing and spending."

Appearing on Face The Nation, Graham said America needed to know that "this candidate, Senator Obama, who's masquerading as a centrist, is anything but a centrist when it comes to taxing, spending and social policy. And at the end of the day, I think we're going to be choosing between two candidates who have a different view of where to take America."

McCain's plan, according to Graham, would be "to lower tax rates for investors, capital gains tax, dividend tax rates, to make sure that we can get the economy jump-started." ..."

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