McCainonomics: McCain's Economy Platform: Big Tax Cuts, With Caveats

WSJ ^ | March 3, 2008 | BOB DAVIS

[calcowgirl]

WASHINGTON -- Imagining how John McCain, the Navy war hero, would play the role of commander in chief has been easy. Imagining how John McCain, the policy maverick, would lead as chief executive of the U.S. economy has been tougher.

In a wide-ranging interview last week, Sen. McCain offered the most-detailed account to date of his thinking on economic issues.

(snip)

Climate Change

Sen. McCain's biggest regulatory effort is likely to come in the field of climate change. Along with independent Connecticut Sen. Joseph Lieberman, who was then a Democrat, Sen. McCain introduced the earliest version of a cap-and-trade system in 2003, and the pair have refined their ideas since. Under their plan, the government sets emissions goals. Companies that can't meet their targets must buy permits to produce carbon dioxide, either from companies that produce less CO2 than they are permitted, or from the government.

The system may require a large regulatory apparatus. In the latest McCain-Lieberman version, the government would auction off carbon-emission permits. According to Harvard economist Robert Stavins, such sales could raise $50 billion to $100 billion a year.

An Energy Department analysis says Sen. McCain's plan raises energy prices so much that it would reduce economic growth.

"I hear this interesting argument that somehow this would cost more money to our economy," says Sen. McCain. But, "I am absolutely convinced that innovation, technology, and using the entrepreneurship of America will come up with technologies which will save money, be a boon to our economy, and clean up our environment." He's unlikely to get much argument on this from his Democratic opponents; Sens. Obama and Clinton co-sponsored Sen. McCain's legislation.

[TADSLOS]

BUMP!

[Just mythoughts]

One would think that alllllll of that experience sitting on and chairman of the Commerce Committee would have been at minimum some basis in training of economics. Sure makes one wonder exactly what he was doing on that committee.

[calcowgirl]

One would think that alllllll of that experience sitting on and chairman of the Commerce Committee would have been at minimum some basis in training of economics. Sure makes one wonder exactly what he was doing on that committee.

I'm sure he learned a lot about Finance during those NINE free vacations to the Bahamas, courtesy of Charles Keating.

[Dante3]

McCain’s visit with his captors and his treatment of the POW/MIA issues and of the families has been outrageous.

[Just mythoughts]

I'm sure he learned a lot about Finance during those NINE free vacations to the Bahamas, courtesy of Charles Keating.

What is surreal is that he would then say out loud and for the world to hear that he doesn't know about economy. Especially when I continue to hear that 'economy' is the first issue on the majority of voters mind. I can't wait to learn who is giving him a back-room class on economics, probably somebody preaching urban enterprise zones.

[Sam's Army]

"...such sales could raise $50 billion to $100 billion a year."

He means taxes.

[calcowgirl]

McCain has had Carly Fiorina as an economic adviser, stumping for him on the campaign trail for over a year now. After destroying Lucent and HP, now she is qualified to advise a presidential candidate on how to run the country?

Even his staff implies he’s incompetent.

http://www.usnews.com/blogs/capital-commerce/2008/3/3/john-mccain-economist-in-chief.html

“If this comes down to some policy wonk debate between McCain and Hillary or Obama, well, we’re not going to win that one,” is how a John McCain political adviser, in a recent chat with me, assessed the Republican presidential candidate.

[Just mythoughts]

The idea that a Republican candidate is blank on matters of economy makes for a nauseating stomach. This election is like walking through a bog... never know when the next step is not a step but a dunk.

[calcowgirl]

This election is like walking through a bog... never know when the next step is not a step but a dunk.

Prepare to be dunked, no matter the outcome of this election.

And always remember to take a deep breath! ;-)

[TigersEye]

It certainly has. Hypocritical, disgusting and reprehensible too.

The War Secrets Sen. John McCain Hides

[TigersEye]

Back atchya!

[Dante3]

Almost sounds like the fix was in to swing the election for Hillary - Obama’s support from whites caught many by surprise. For the GOP to chose McCain is like a scene from the theater of the absurd.

[calcowgirl]

The GOP leadership need to get out of their DC mansions and see what the average folks are living with. I saw a youtube video of Lindsay Graham (when he called all those who oppose illegal immigration "bigots") where he talked about having met his first "hispanic" when he was in the military. (Where the heck did he grow up?) Karl Rove's strategery of catering to the illegal alien community ignores all the good conservative hispanics that could become loyal Republicans. Instead, the pandering just infuriates them. This year, I actually think these ignoramuses believe that the Republicans will win based on the anti-female, anti-black vote. They really need to look in the mirror to see that they are the bigots and the rest of the country has moved far beyond their little caste system.

[Dante3]

Exactly.