Walt Handelsman for November 23, 2009

In one of her carefully chosen interviews, she said what the country needs right now is tax cuts. She also believes in an open-ended war in Afghanistan so we can “win” (whatever that means to her, who knows, she can’t define it). Apparently, she has not performed even a modicum of research or she would know that Bush 43’s tax cuts and starting wars in two countries gave the deficit the sharpest increase in decades. I doubt Palin has the intelligence to think beyond campaign placards and bumper stickers.

My wish for her is that she undertake some learning and conversations with economists, historians, nonpartisan analysts. If she has good ideas, or even common sense, a little knowledge might make her somewhat credible.

I’d bet John would love to have control of a Predator and Hellfire, not just a shiv.

Churchill - In 2002, the Operating Fund Income was roughly $1,321 billion. In 2008 dollars that’s about $1,542-$1,793 using the calculators at measuringworth.com, or about $2,348 using ShadowStats.com ‘s calculator. Average them all together and we get $1,738.

The Operating Fund revenue in 2008 was $1,824 billion, which is a 5% increase over the 2002 income in real 2008 dollars. Factor in a population that increased from 288 million in 2002 to 304 million in 2008 (a six percent increase)…and the tax cuts, DECREASED revenue per person.

The value of tax cuts is a great con.

vhammon, if one studies our economic history objectively, tax cuts have always failed, resulting in larger deficits. Reagan’s cuts significantly increased deficits. Bush 41, when faced with mounting deficits (all contributing to our deficit) he did the responsible thing and reversed some of the cuts, putting in place tax increases. It did, however, contribute to his defeat for a second term. Funny how that works. The more responsible and pragmatic a president is, the worse he fares in public opinion.

and inanity ‘666’ guy is wrong, as usual. There was plenty of fact checking on Obama’s books. He apparently didn’t notice. It’s ridiculous that some people fault the media for doing their job and fact-checking Palin’s assertions. But I guess there’s nothing left to defend, therefore attack the messenger. Dumb.

b.c.s., True. Factor in the debt from the tax cuts, which ran the cost of interest up to $443 billion in 2008 ($242 on debt held by public, and $201 billion on debt held by restricted funds).

In 2002, 20% had to come off the top of the Operating Fund to pay interest on our debt. By 2008, this was up to 24%. That extra 4% going to interest further diminishes the value of the tax cuts.

It creates a vicious circle: Out of every dollar that you paid in income taxes in 2008, nearly 1/4 - 24 cents - went to pay interest on the national debt (over 80% of which was incurred under just three Republican presidents (Reagan, Bush I & Bush II).

Everyone thinks they don’t get much for their tax dollars, and ascribes it to government corruption and incompetence…driving demands to cut taxes further, requiring more borrowing, increasing the interest, reducing services other than debt services, making people all the madder about getting not much for their money….

Thank you fennec - very interesting. So, only Turkey, Korea and Mexico collect a smaller percentage of GDP in taxes!

Is it any wonder our infrastructure is collapsing to third world status?

great link, fennec

churchill, the Heritage Foundation is a hard-right partisan think-tank - hardly a unbiased source. Based on the data, tax cuts have not worked, especially since they have been disproportionately aimed at the rich, and the “Laffer Curve” is exactly what George H. W. Bush called it before putting his manhood into a blind trust to become VP: voodoo economics.

I don’t think McCain cares; he has seen it all. Now, his underlings, as I heard it, are bitter with Palin and are doing something unheard of amongst the wonk class (according to this other pundit) - defending their record against Palin’s charges.

She’s a pretty face with an empty head. Failed as a beauty queen, failed as a mom to keep he daughter from getting pregnant, failed as a candidate, failed as a governor, failed as a writer. I hear it’s a poor book. She’s a train wreck.

@Dr.Canuck I think I just threw up in my mouth.

eeeeuuuuuw

Exactly. They should ignore her.

legendary, you have to admit she is hot. Otherwise she wouldn’t be where she is. What a sad commentary for this country.

Bruce- two words- “Paris Hilton”.

and Carrie PJ for secretary of state !