Korean Job Discussion Forums

[Ya-ta Boy]

EJ Dionne reports: "And few know that McCain's economic plan is worse than President Bush's. As Jonathan Cohn points out in The New Republic, McCain would add $8.5 trillion in new debt over the next ten years."

Econ wonks, is that true?

http://www.realclearpolitics.com/articles/2008/09/obama_must_stand_up_for_himsel.html

[Kuros]

That seems like a rather extreme claim. But looking at the numbers put out by the Tax Policy Center, its clear that McCain would cut a lot of taxes. The problem with the Jonathan Cohn analysis is that he presumes a certain amount of spending. While its probably safe to be pessimistic about a President's ability to curb excess spending, perhaps particularly when McCain would inherit a Democratic Congress, it seems hard to predict even when we can crunch the numbers on McCain's proposals.

I guess there's a way to find out, but unless somebody's crunched all the data and numbers, its almost an impossible question. And really, I'm too lazy to do the research.

But damn, its an interesting question; which is why I posted at all.

[fiveeagles]

[Joo Rip Gwa Rhhee]

Don't tax cuts increase productivity?

Europe has higher taxes than the US. Who has and had a better economy?

I don't think all the tax cuts he proposes will come into effect anyway. He just said what he did to appeal to conservatives.

I personally would like to see the Bush tax cut of 2000 expire and replace it with lower cooperate taxes.

Obama wants to raise capital gains taxes that isn't a good idea either.

[Ya-ta Boy]

Greenspan: Country can't afford McCain's tax cuts

WASHINGTON - Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain � at least not without a corresponding reduction in government spending.

http://news.yahoo.com/s/ap/20080913/ap_on_el_pr/mccain

[Kuros]

[mises]

The addition of 8.5 to the already existing debt would force a move on the sovereign credit rating of the US. That would be rather unpleasant.

[sojourner1]

What will happen when it's been determined that America went too far in debt and the country can't no longer service its' huge debt? Will our bank accounts, real estate, and national parks become not ours anymore? Will all Americans be required to give up all valuables to pay the national debt? Will the rich upper crust be effected 1st or last? Who will be responsible for the gross negligence?

What will happen during the new presidency? Time will only tell. It's very doable to turn things around, but unlikely that will happen.

[Justin Hale]

8.5 trillion over 10 years is 6.2% of US GDP per year

[Gatsby]

sojourner1