'View' Co-Hosts Lack Economic Knowledge

"The View" co-hosts, who seemingly have difficulty understanding the Constitution, have demonstrated their lack of understanding in economics. Recapping Friday’s presidential debate on the September 29 edition of "The View," co-host Sherri Shepherd wondered how we can raise taxes. Whoopi Goldberg replied "it’s not going to happen. We are in too much financial trouble. We can’t."

A very brief lesson in economics will explain to the co-hosts that financial crisis may be the time to reduce taxes. It certainly is not the time to raise taxes as Herbert Hoover demonstrated possibly aggravating and prolonging the Great Depression. According to economist Art Laffer, in his theory "The Laffer Curve," sometimes reducing taxes can in fact generate more revenue. While the other "View" co-hosts fretted about taxes, Elisabeth Hasselbeck cited Barack Obama in possibly scaling back on extravagant spending promises.

As the conversation continued, when Barbara Walters gently suggested Joy Behar and Elisabeth Hasselbeck are partisans, Joy Behar, unquestionably the most ideological on the panel, laughably claimed to be an "independent thinker." Behar rarely, if ever, diverts from the liberal line of thinking. Even Barbara Walters disputed on air, Behar’s claim of her "independent" thoughts.

Relevant portions of the transcript follow.

SHERRI SHEPHERD: You know, I think if you were for McCain before the debate you were still for McCain after the debate and the same with Obama. So wasn’t it- I don’t think they gave us anything new. But what the question I do ask is if we’re giving $10 billion a month, you know, for the war, and then they’re talking about we have to go over to Afghanistan, lowering taxes sound great but how in the world are you going to do it?

WHOOPI GOLDBERG: And what did the Whoops tell you about lowering taxes? It’s not going to happen. We are in too much financial trouble. We can’t.

BARBARA WALTERS: Well, let’s get back to the debate.

SHEPHERD: That’s what I was saying, the debate-

WALTERS: You had a question that wasn’t answered.

SHEPHERD: Yeah, he was saying during the debate that, you know, he wanted to lower taxes and I’m going how are you going to do that? It just seems like it’s going- it sounds good, makes me feel good-

ELISABETH HASSELBECK: Yeah, even Obama admitted, you know, the things that he set out to do and the healthcare plan that he’s putting forward, he’s not going to be able to do it all, you know, he said in the first four years or whatever, it’s going to- we’re in a little bit of a mess, but they made some progress today right?

[...]

JOY BEHAR: I felt as though McCain was in combat mode, that he’s like a soldier all of the time and that every adversary he considers an enemy. Obama is not his enemy. Obama is a senator in the United States Senate. He’s running for the same office. He’s not your enemy John. He’s an adversary. So, you know, if you’re going to be looking ahead and acting all grumpy like that with an adversary, imagine how you will be with Ahmadinejad and all these other people who are really your enemy.

WALTERS: You happen to be a big Obama fan, but if you want to look at it objectively, which I’m trying to do-

BEHAR: Well, I’m saying the one thing about Obama-

WALTERS: I think he was also, you know, McCain had warmth, he had humor.

BEHAR: McCain did?

WALTERS: Yeah.[laughter] You have your side, you have your side, I’m just trying to sort of say hey, if you’re looking and you’re an independent, this is what you’re getting at.

BEHAR: Well, as an independent thinker, I thought what I said was an independent remark.

WALTERS: No, you’re not an independent thinker, you’re for Obama.

BEHAR: Yeah, but objectively Obama kept saying "John I agree with you. John you’re right." That’s a very conciliatory tone. The other one was saying "you don’t understand." That’s pretty objective.