Wednesday, August 6, 2008

Rebranding Republican economic nostrums

If there were any lingering doubts that John McCain is clueless about economics, the so-called idea of a surge for the economy should remove them. Here's the hoary old Republican bullshit, repackaged:

"We need to reduce the tax burden on businesses that choose to make their home in the United States of America, we need to open new markets to U.S. products, and we need to reduce the cost of health care, and we need to stop the out-of-control spending in Washington that's putting our debt on the backs of our children."
Repackaged if you can call slapping a "New!" label on old bullshit repackaging.

Republicanism is all about reducing taxes on big businesses (the ones that move to Dubai like Halliburton or incorporate in the Caymans and Bermuda like so many others) and their wealthy owners. The GOP pays lip service to small businesses that could never actually move overseas, but they don't really care about small-time entrepreneurs. Yet if you mention policy punishments for corporate flight, the Republicans are aghast. That might take a percentage point off their hedge funds, and we can't have that.

Nobody is opposed to opening markets to US products. The problem is that when push comes to shove, the Republicans (and many Democrats, too) don't do anything to accomplish this. Too many lobbyists and campaign contributors for globalization at any price. Instead of doing something, they rationalize counting on Pareto optimality, and, guess what, our comparative "advantage" is our willingness to sell off our birthright to our creditors for the sake of another year of high living.

Of course, McCain should be embarrassed to mention health care costs and deficit spending, since his party causes both problems. No other country spends the way we do on health care, mainly because we reserve to insurance companies the right to skim 25% off the top. And the deficit is primarily caused by the adventure in Iraq and the Bushist tax cuts for the rich. Defeat McCain and solve both of these problems!

B-bu-but, it's a surge!

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