Thursday, August 28, 2008
Thoughts on Biden's Speech
OK. If we are supposed to judge him a success for his son Beau, who is on his way to serve his country in Iraq as part of the mighty Delaware National Guard, what judgment are we supposed to give for his son Hunter, who is a lobbyist and financier who has ear mark, conflict of interest and lawsuit problems?
Then there was this series:
Barack Obama will reform our tax code. He'll cut taxes for 95 percent of the American people who draw a paycheck.
What is Biden talking about? Barack's original plan was to repeal the Bush tax rate cuts. Since that was an across the board tax rate cut, that is, it applied to every single tax bracket, repealing them automatically would result in an across the board tax rate increase. But he was also going to cut tax rates on the lower middle class. The poor don't pay any income taxes so it's not possible to cut their income taxes. But he now has a new plan which mentions tax rate cuts on the bulk of Americans not at all. He still wants to stick new payroll taxes to the rich. This 95% cut is, at worst, a lie, and, at best, more inane and boring class warfare.
Pig may fly before we have sufficient bio diesel, wind and solar power to replace even 5% of imported oil. If we can't drill many, or any new oil or gas wells, there will be huge job losses in the oil and gas industry, not increases. Windmill and solar panel panel production are not highly labor intense. Farmers, who are only 2% of the workforce to begin with, won't substantially increase their numbers to raise more corn or switch grass or algae or whatever, they will merely increase the acreage under highly mechanized production. Difficult to see much of an increase in jobs there. This is complete bs, pie in the sky promises which only the truly gullible buy.
Barack Obama will transform our economy by making alternative energy a genuine national priority, creating 5 million new jobs and finally freeing us from the grip of foreign oil.
...John McCain proposes $200 million in new taxes for corporate America, $1 billion alone for the largest companies in the nation -- but no, none, no relief for 100 million American families, that's not change. That's more of the same.
John McCain does not propose new taxes on corporate America. Biden obviously misspoke, as you can tell from the rest of the 'thought'. Even the numbers he gave don't make any sense. McCain actually intends to do just the opposite, however, he proposes cutting corporate taxes, of which we have the second highest in the World, after Japan, and which are all passed on to the consumers and are therefore just a tax on each of us who use the corporate American product or service. The high corporate tax merely hobbles the American corporations in competition with other nation's corporations, which do not have to collect the tax for the government from the populace.
If there was any genuine triumph in Biden's speech last night it was of rhetoric over substance, just as the top of the Democrat ticket generally accomplishes.
Labels: Joe Biden; DNC Denver