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Wednesday, October 29, 2008
it’s the economy, stupid

It’s almost election day. Most people in this country tend to vote for their wallets. Personally, I think there are more important things to base the decision on, but I’m pretty sure I’m in the minority there. Regardless, a lot of people who are going to vote for McCain are going to do it because “OMG Obama will tax me more!” That’s very likely not true, unless you’re in the top 2% of the country in income, or so. And if you are, shut the fuck up, no one wants to hear you complain. Check out http://www.electiontaxes.com to see an estimate of what your taxes will actually be like under their proposed plans. Note: It’s likely neither candidate will implement these plans exactly as President, but there’s only so much you can do to try to figure it out.

I took one economics class in college, and don’t remember most of it. I’m clearly not qualified to figure out which tax plan, or what method in general, would be appropriate for a strong economy. You know who just might be, though? Economists. From the Wikipedia link:

A study in the Southern Economic Journal found that “71 percent of American economists believe the distribution of income in the US should be more equal, and 81 percent feel that the redistribution of income is a legitimate role for government.” In terms of political orientation 63% identified as progressive and less than 20% as conservative/libertarian. with registered Democrats outnumbering registered Republicans 2.5:1.

Now, I know many Republicans want to elect “regular folk” who are “just like they are” (note: John McCain owns 7 or 8 houses, Sarah Palin just spent $150k on clothes and makeup [funded by your campaign donations, and then being given to charity… spread the wealth!]), but I personally prefer to look to people who are smarter and more qualified than I am to make these sorts of decisions. And if 63% of economists support a progressive tax policy, who am I to argue?

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Posted by alan to politics at 4:05 pm PT | Link | Comments (5)

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5 Comments »

Comment by gadzooks64
2008-10-29 16:50:02

“Regardless, a lot of people who are going to vote for McCain are going to do it because “OMG Obama will tax me more!” That’s very likely not true, unless you’re in the top 2% of the country in income, or so. And if you are, shut the fuck up, no one wants to hear you complain.”

 
Comment by StudioGlyphic
2008-10-29 19:25:16

According to that tax calculator, Barack Obama is going to save me $500 a year, every year. But I’m hoping to hit that $250,000 mark before his term is over. Bring on the higher brackets! I will gladly pay higher taxes on the taxable income I earn over $250,000, unless they spend the money to fund nuclear weapons, military tech that doesn’t work, or the War on Drugs. Then I’ll only grudgingly pay more.

 
Comment by Paulus
2008-10-30 12:22:24

“Most people in this country tend to vote for their wallets.” Because of course we have it so bad in this country economically compared to everywhere else.

On the other hand, I have to imagine that the 63% of economists who believe in governmental income redistribution haven’t spent time in a crisis pregnancy center. Not to go all libertarian on your hind end, but if you provide economic incentive for something, you really do get more of it, and now there’s an insular, impenetrable subculture of women who only know that lifestyle. I don’t know what the answer to that situation is, but I just can’t convince myself that more government programs will ever be anything but a palliative.

Anyway, I guess what I’m trying to say is: I don’t believe in income redistribution. I sure as heck believe in taxing the people who have money enough to pay down the national debt.

 
Comment by Jon
2008-10-31 10:00:58

Why should I ever give my money to somebody who wont get off there ass to go to work.
I work 45+ a week. I dont make 250.000 Not even close more like 35,000 to 40,000. We already have goverment programs for thoses who dont want to work. Go get on those, Dont take my money. Oh and by the way I believe the American Dream was to make as much money as we can. So kiss my ass you aint getting mine Obama

Comment by alan
2008-10-31 10:03:13

Did you even READ the first part of the post? Plug your numbers into the calculator at http://www.electiontaxes.com/ and see which candidate’s tax plan will take more of your money.

 
 
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