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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: ManyMoose who wrote (51328)	10/13/2008 12:04:13 PM
From: Ann Corrigan	2 Recommendations Read Replies (1) \| Respond to of 224676

529 economists find Obama's economic plan 'mad.' October 13, 2008 Hundreds of Economists Sign Letter Opposing Obama's Tax Plan Hundreds of economists (including Nobel Prize winners Gary Becker, James Buchanan, Robert Mundell, Edward Prescott, and Vernon Smith) have signed letters opposing Barack Obama's economic and tax plans (here, here, and here): We are equally concerned with his proposals to increase tax rates on labor income and investment. His dividend and capital gains tax increases would reduce investment and cut into the savings of millions of Americans. His proposals to increase income and payroll tax rates would discourage the formation and expansion of small businesses and reduce employment and take-home pay, as would his mandates on firms to provide expensive health insurance. After hearing such economic criticism of his proposals, Barack Obama has apparently suggested to some people that he might postpone his tax increases, perhaps to 2010. But it is a mistake to think that postponing such tax increases would prevent their harmful effect on the economy today. The prospect of such tax rate increases in 2010 is already a drag on the economy. Businesses considering whether to hire workers today and expand their operations have time horizons longer than a year or two, so the prospect of higher taxes starting in 2009 or 2010 reduces hiring and investment in 2008. Reader Comments: Posted by: Anon \| Oct 13, 2008 9:35:14 AM I count 90 from the first link, 320 from the second and 529 from the third link. It's probably a "living" list of signatours. Posted by: CW Desiato \| Oct 13, 2008 9:43:46 AM Of course, today we find out that The Nobel Prize in Economics is also officially meaningless, with Paul Krugman being the latest laureate of the moronic pro-socialist prize commitariat. Finally, Obama's claim that he's going to reduce the taxes paid by 95% of Americans is preposterous on its face. About half of U.S. households pay no income taxes already. That's not even "fuzzy math," that's just plain lying. Oh, and by the way, I--and most academic economists--earn far less than $250,000 per year. Is it so very difficult for you to comprehend the idea that we just might be speaking out on the basis of objective analysis? If so, that speaks volumes about the basis for your own views. Posted by: One of Hundreds \| Oct 13, 2008 10:05:54 AM You probably need to doublecheck. It should have said 100's and the second link does show a much longer list. I stopped at 200 and there were many more to go. I don't believe that the economist's wages are relavant here. When I look over the list, I notice a large number of university professors, people actively engaged in studying the subject with what I would hope is an academic and historical perspective. I bet they make less a year than Oprah, or other important celebrity figures. I do think it is important to question authority, not to assume that because someone is an expert on a subject, that they are correct, nor that expertise in one subject area means someone is an expert in everything. I have recognized the names of a few economists that I have admired in the past before this campaign started, and personally do have give their views more weight. I am also an avid reader and part time history buff. Many economists are coming to the conclusion that Roosevelt did not get us out of the Great Depression, but actually pursued some of Hoover's worse programs, like taxing the wealthy and Smoot Hawley. They make points worth thinking about. To claim that these economists, who have credibility in this particular debate and are taking a professional risk by affixing their name to this statment, are somehow on an equal level with us anonymous posters is pretty delusional. Posted by: Rebecca \| Oct 13, 2008 10:12:35 AM In the third link, there are 529 signatures. Posted by: John \| Oct 13, 2008 10:27:45 AM I'm sure this compelling agrument against Obamahood will be featured on NBC, CBS, ABC, CNN, MSNBC, and all of the Left Media outlets, right??? taxprof.typepad.com