Tuesday, August 05, 2008
Dick Morris on Obama and McCain
Dick Morris was a close advisor to President Clinton and along with Karl Rove is an absolute expert on the game of winning elections.
His current comments are spot on, particularly in regard to the dangers to the economy of an Obama inspired punitive crusade against "the rich." Such pandering to the weak traits of class envy among some is pathetic in principal but downright stupid in regard to basic economic sense. Even the communist parties of China and Vietnam have learned that discouraging the creation of wealth is a no-win situation for everyone.
"...But his tax plans and their likely economic consequence are very much a plan for catastrophe. Doubling the tax in invested capital, and ratcheting up the top tax bracket to an effective 60%, will plunge the nation into a real depression. Not a recession or a downturn or a correction or a slowdown. A depression. McCain needs to hammer this point home again and again and again in his advertising. He has to put top level economists on television talking about what the Obama tax program will mean to America. Obama is suspect as an ideological liberal, anyway. And nobody thinks he has the experience to be a good president. So the potential to scare voters by accurately elaborating what his tax plans will mean to the entire country -- not just the rich on whom the burden will directly fall -- is enormous.
When Obama says he will only tax the rich, it's like saying he won't shut down the entire ship, just the engine room. If McCain just talks about Obama's tax program in the abstract, most voters will shrug and note that the tax hikes won't really apply to them. Only 2% of Americans earn more than $200,000 a year and only 6% make more than $100,000. But if McCain explains the economic impact of Obama's tax proposals on all Americans, he will score points and could score a knockout..."
