More on the gas tax stupidity
More than 200 economists, including four Nobel prize winners, signed a petition rejecting proposals by presidential candidates Hillary Clinton and John McCain to offer a gas-tax holiday.
Columbia University economist Joseph Stiglitz, former Congressional Budget Office Director Alice Rivlin and 2007 Nobel winner Roger Myerson are among those who signed the letter calling proposals to temporarily lift the tax a bad idea. Another is Richard Schmalensee of the Massachusetts Institute of Technology, who was member of President George H.W. Bush’s Council of Economic Advisers.
The moratorium would mostly benefit oil companies while increasing the federal budget deficit and reducing funding for the government highway maintenance trust fund, the economists said.
So what does Hillary keep saying?
Obama’s opposition shows he is “somebody who just doesn’t seem to understand that middle-class families are hurting,’’ Clinton spokesman Howard Wolfson said yesterday.
Really? Says the woman who brought in $10M/year and hasn’t had to live on a middle-class salary in decades, if ever? What it demonstrates is Mrs. Clinton doesn’t understand basic elementary school math, much less high-school economics. Either that, or she’s a lying pandering politician. You pick.
Clinton yesterday dismissed economists’ objections to the plan.
Those damned facts keep getting in the way of pandering.
“I’m not going to put my lot in with economists,’’ she said in an interview on ABC’s This Week with George Stephanopoulos. “We would design it in such a way that it would be implemented effectively.’’
First off, nothing she could do as “President” could have an effect before she’s actually elected, so there’s the whole time travel problem. Then there’s the economic reality problem. Then there’s the pandering slime problem. And finally, there’s the whole basic math.
Are you lying, or are you stupid?
This entry was posted at 3:45 pm on 5 May 2008 and is filed under Political. You can follow any responses to this entry through the post-specific RSS 2.0 feed.
>Are you lying, or are you stupid?
I come more and more the conclusion that they are “stupid liers” ;-(
There are so many terrible examples, that one just can come to that conclusion. Just pick the “bio-fuel” stuff. It’s a catostraphy, does that matter?
Regards
Friedrich
well, she is a senator, so she can always propose the legislation for a gas tax holiday. i’m sure there’s a myriad of reasons why it could never make it through the bureaucracy that is congress in time for labor day, though.
not that it isn’t a stupid idea. we’ll burn through that “savings” in no time, considering how quickly the price of gas has been going up lately
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1. The budget is running a deficit.
2. Cutting taxes increases the deficit.
3. The deficit must be solved by printing money, which causes inflation, which causes everybody’s dollars to be worth less.
In other words, this so-called tax cut is anything but.
Should we borrow money to pay for the deficit, we will also pay interest on the tax cut.