Monday, April 28, 2008

War and Taxes

There is an urban myth that federal tax cuts lead to major fixes in the economy such that federal income taxes more than pay for the losses in revenue. Recent studies show that since the JFK tax cut that has not been true. Now McCain is proposing a tax cut and spending increases that will be three times those of Hillary and Barack. He seeks to cut the corporate tax rate by $100 billion cut; eliminate the $60 billion alternative minimum cut; double the personal exemption for dependents which is a cost of $65 billion and expand the military. It used to be that the GOP was the party of fiscal sanity.

All of us should hold our breath for the upcoming memoir of Douglas Feith, a neocon architect of the Iraq disaster. General Thomas Franks has called him "the dumbest ....guy on the planet." George Tenet of the CIA called his work:"total crap". Former ambassador to Iraq, Jay Gainer, remarked "He's a smart guy whose electrons aren't connected." In his memoir "War and Decision", Feith argues that it was Colin Powell and his deputy Richard Armitage who failed to challenge the logic of going to war. He blames his old boss Donald Rumsfeld for the post war chaos. He blames Condoleezza Rice for the way she managed the National Security Council and papered over issues. He notes that President Bush allowed insubordinate behavior in the bureaucracy

Wednesday, April 9, 2008

Hillary On Her Way Up?

Despite Obama's lead in the popular vote, Clinon has a 421,000 lead over him among registered Democrats in the votes conducted so far.

Tuesday, April 8, 2008

There needs to be some facts about NAFTA:

The Democrats have decided to criticize the North American Trade treaty, especially in declining industrial states during the primary campaign. But there are complex facts that come forth.

Exports to Mexico only account for $161 billion last year, only 1.1 percent of our economy.

Imports from Mexico have jumped five fold since 1993, but they amount only 1.7 percent of our $14 trillion economy.

Since NAFTA, the number jobs has jumped by 7 million between 1993-2007, and NAFTA accounts for 0.5 percent of the US economy.

We could reopen the treaty process, but Canada and Mexico will surely have demands as well. Canada's environmental regulations are stricter than ours, by the way.

Our First Black President

There is talk about Barack Obama becoming our first Black president, but Beverly Gage of Yale reminds us that that may not be so. There has been the persistent rumor that President Warren Harding was in fact the "First Negro president", as they called it in his time. He was supposedly the great grandson of a black woman and under US race relations in which one "drop" counted. We will never know if this was just a racist attack on the Harding family strain or was a true oral legend until we have access to DNA of the late president.

Thursday, April 3, 2008

50 Disillusioned...Is The Battle Lost?

Hillary Clinton who advocates universal health care owes health insurance companies nearly $300,000 in payments to cover her own campaign staff. CareFirst provides coverage for her staff; but she is running up a $9 million debt as Obama outspends her 3-1 in Pennsylvania. Under the law, she is unable to dip into her money which has been allocated for the general election.

The Clintons never expected a major fight for the nomination and tapped their major donor base already.

In New Jersey, Clinton's lead over McCain has dropped. Now he is beating her 45-42% whereas last month she was ahead 50-39%. Her favorability rating has also dropped from 56% to 50%.

Even Rapper 50 Cent has indicated that he has withdrawn his support from Hillary Clinton, saying he doesn't follow the campaign anymore.