[QUOTE=Jelly Donut]My point was more about trying to predict the future. I would not hazard a vocal guess at what the stock market is going to do tomorrow, who is going win the next election or what the configuration of global power will be in 20 years. I don't romantize economic ideas or politicians (unless they have been dead for a very long time).
"Not that I condone fascism, or any -ism for that matter. -Ism's in my opinion are not good. A person should not believe in an -ism, he should believe in himself." - Ferris Bueller
It's not obvious to me (hanging out in my swing state) that increasing taxes or more protectionism is going to help move the US economy forward. The history of the 1930's suggests those kinds of policies are bad ideas. Anyway, we already redistibute huge amounts of money through the US government, far more than we did during the 1930's. The whole sub-prime thing was about as redistributionist as it gets.
In my experience, redistributing money through government hurts people when they expect or feel they are entitled to it. I heard this one AW recently - "If I can only get into public housing all be all set". That's a person who does not believe in herself. I don't see that as an attitude that's going to get the country on the right track.
Contrast that attitude with, say, a doctor who works her way through college and medical school and post-medical school training. She puts in years of effort toward a difficult goal, accumulating massive debt on the way. As things are right now, she pays a disproportionate part of her income toward Federal taxes, but the blue Congress (and O) wants her to pay more. When you increase taxes, it kills [i]something[/i] off, government takes it's cut, but it's not always the case that something good comes of the transfer.
So, anyway, thanks for the "well said", but it's not clear to me that a better economic policy waiting in the wings.[/QUOTE]
I could relate to the latter as it describes my own life, working hard was just what I did. Still a lot of people are the former and to me that is not a good sign. Anyhow we cannot predict the future but history can hint at a lot of possible things that might happen down the road.
Obama or McCain, I am certain Americans are going to pay higher taxes with this nearly $1 Trillion bailout. Its ridiculous how now the elites in the Ivory Tower that is Wall Street want the government to help them from sinking, at the same time they support policies that screw over everyday working people.
America became a great and strong power because of its massive middle class, the greatest social cushion between rich and poor in history, which allowed it so much stability. Europe was the opposite during the first half of the century and hence its political problems were severe during those times. Not all poor people are looking to milk the government, not everyone is fortunate in life.
McCain is too old and if he becomes unfit to perform his duties as President, America will be stuck with Palin, who will probably be worse than Bush. McCain only picked her in a lame attempt to get former Hilary supporters. Now that plan is burning down as the economic crisis continues to unfold. The policies of the last eight years have been absolutely horrific, if they continue, its definitely going to lead to a disaster.