Perhaps the media's Obama lovefest isn't as infectious as previously thought - at least in some corners of the financial media. For the second day in a row CNBC's Michelle Caruso-Cabrera noted low taxes - a conservative economic ideal - trumps those of the left, both economically and politically.
Caruso-Cabrera and "Squawk Box" co-anchor Joe Kernan interviewed Douglas Holtz-Eakin, the chief economic policy adviser for Republican presidential candidate Sen. John McCain, on August 15. The day before, the two interviewed Democratic presidential nominee Sen. Barack Obama's senior economic adviser Austan Goolsbee.
"You know what I just love, Doug?" Caruso-Cabrera asked. "Everybody and their mother, whenever they want to endorse their tax plan - they want to cite the almighty Ronald Reagan, right? I mean, everybody wants to dump all over the Republicans, but when they want to tout their economic and their tax plan, who do they go back to? The guy who cut taxes and cut taxes."
Caruso-Cabrera was referring to Goolsbee's eagerness to use the name of Reagan when touting the Obama tax plan. He had justified Obama's tax proposals by saying the rates would amount to a lower percentage of gross domestic product than under Reagan.
Holtz-Eakin noted the Obama campaign had backed off of its initial plan and came out with a plan with significantly lower tax rates. However, he blamed it on political expediency and not a revelation learned by examining the history of Reagan.
"Well, I mean we learned a great lesson and in the larger scope of economic events - we won," Holtz-Eakin said. "We don't think anyone who's trained in economics wants to go back to marginal tax rates of 70- to- 80 percent. That was the original Obama plan and you can that see he's dialing it back because
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Maybe I'm getting addled as
August 15, 2008 - 11:18 ET by KillgraveMaybe I'm getting addled as I'm pushing middle-age. But I don't remember any of this love when Reagan was in office.
In fact, I remember countless jabs and cheap-shots about his age, and supposed senility. I remember a sordid rumor about astrology. Reagan was always painted as the bad guy in his battles with a decades-entrenched Democrat congress. And, of course, Iran-contra made Reagan the worst leader since Hitler.
But now, Obama compares himself to Reagan. WTF?
There were certainly jabs from me.
August 15, 2008 - 11:23 ET by sarcasmoBut not anything like cheap shots. I jabbed 'em about cocaine-Contra because that's what happened, like it or not, and they got busted as hypocrites. I complained when he and the Republicans signed off in 1982 on the debasement of the penny, because it was a way NOT to face up to the inflationary effects of too damn much government spending. In fact, I constantly complained about his ever-increasing spending (amid biased media whines about "cuts," which is when I figured out the extent of antilibertarian mediabias) despite all the libertarian rhetoric we all heard from Reagan on the campaign trail. And I'm damn proud of it, too; because I was/am right.
JMR
The tax & spend drug war looks racist in the real world.
Sure. I myself am not a
August 15, 2008 - 11:35 ET by KillgraveSure. I myself am not a fan of Ronald's (or should I say Nancy's) drug war. They really ramped it up during the 80s. And where did that get us?
But all things considered, I think Reagan was a really, really good president (if not great). His fight against communism alone is worthy of great acclaim. While all the pinkos here waffled and equivocated, he went up to the Wall itself and called Gorby out. He may very well be the last greatest defender of our Republic.
Reagan was, at least, the
August 15, 2008 - 12:11 ET by NewsbusterbrownReagan was, at least, the greatest president of the second half of the 20th century.
“There are no easy answers' but there are simple answers. We must have the courage to do what we know is morally right.” - Ronald Reagan (1964 Republican Convention)
Is there anything
August 15, 2008 - 12:22 ET by Nortonalecsexier than that? I LOVE seeing MC-C on CNBC. Nothin' hotter than a conservative woman giving a lib a good beat-down.
Nortonalec
I constantly complained
August 15, 2008 - 12:30 ET by NewsbusterbrownI constantly complained about his ever-increasing spending.
As a percentage of GDP, spending was going down. Not as fast as you or I would have liked, but it was certainly better than nothing.
because it was a way NOT to face up to the inflationary effects of too damn much government spending
You have lost me here, Sarc. Inflation wasn't a problem under Reagan, except early on in his administration, but that was a carryover from the Carter years.
“There are no easy answers' but there are simple answers. We must have the courage to do what we know is morally right.” - Ronald Reagan (1964 Republican Convention)
If inflation truly wasn't a problem
August 16, 2008 - 05:15 ET by sarcasmoThen why did Reagan have to sign the legislation debasing the penny from copper to zinc? The truth is, inflation was still a problem which still needed to be hidden from the public, because we'd only switched from a tax and spend welfare state to a borrow and spend warfare state. They're still trying to hide and/or delay effects of the true extent of inflation today. If they weren't trying to hide the fact that pennies since 1982 are really zinc-not-copper, then why copper wash 'em?? The truth about money is still around, but you have to look for it these days. Politicians left and right have spent decades spouting off about the values of the Founders, while totally ignoring those traditional values on money itself, the most basic of all issues.
As for your GDP percentages argument, I disagree there, too. I didn't hear anything about percentage of GDP when Reagan was stealing libertarian words around election time. There was none of that quibbling, it was all libertarian rhetoric, followed by statist reality. Don't want to do libertarian things? Then don't steal libertarian rhetoric. Presidential candidates need to "say what you mean, and mean what you say," instead. Otherwise, I'll call 'em on it, even if they're popular like Reagan, because I'm right.
JMR
PS A decade ago, people would have been screeching at me about the cocaine contra thing, but my side has apparently won that argument, even though a variety of cocaine smuggling criminals in both "major" parties obviously got away with it, as Libertarians called them hypocrites. Correctly. And yes, I'm proud of we busted those hypocrites in the court of public opinion -- it's a slam dunk they didn't expect, but they sure as hell deserved it.
The tax & spend drug war looks racist in the real world.