Obama 'Courting Disaster' with Tax-Hike Plan, Economist Says
Posted Aug 28, 2008 02:59pm EDT by Aaron Task in Newsmakers, Recession
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Barack Obama defied the odds (and the Clintons) and made history to become the Democratic party's nominee for president. As the Democratic Convention comes to a close at Invesco Field Thursday evening, concerns linger about whether Obama is experienced enough to be Commander-in-Chief, or appealing enough to blue-collar workers.
But Joeseph Brusuelas, chief economic at Merk Investments, says Obama's biggest problem is his tax policy, which he believes would be a "profound mistake."
While planning to cut taxes for "working families," Obama proposes raising taxes on wage earners above the $250,000 level, as well as on capital gains and dividends. Such policies are "courting disaster" in an a weak economy, says Brusuelas, who believes Obama's tax plan is much better campaign politics than governing policy.
But is John McCain's plan -- which is mainly to extend the Bush tax regime -- really a better idea? Tell us what you think. |
