Liberal Spin: Bad Economy Is Bad News For John McCain
I’ve read several articles the past month or two about how the economic troubles faced by the United States are going to be problematic for John McCain. Why should this be the case?
Barack Obama wants to raise taxes on investment and income on those who make over $250,000 per year. Those are the people who create the jobs that Americans need. How is leaving those people with less money to spend and invest going to create jobs? It isn’t. Less money means less spending and investment which means less jobs. It’s as simple as that.
Barack Obama also opposes lifting bans on oil drilling where there are billions of barrels of oil just waiting to be tapped. Gas prices are at record levels, leaving all Americans whether they ride the bus or drive vehicles with less money to spend elsewhere (bus fares are increasing all over the country because of higher fuel costs). How is restricting new supplies of oil going to reduce the price of gasoline? It isn’t.
High oil prices are also fueling food inflation. People are spending more to feed themselves than before, leaving less money to spend elsewhere which means that jobs are going to be harmed.
If anything, the economic troubles should be good news for McCain because Barack Obama is on the exact opposite side of every issue that he should be on.
Raising taxes during an economic downturn is never a good thing. Restricting the supply of oil during record high oil prices is not a good thing, either. McCain and the Republicans need to do a better job of explaining this to the American people. The last thing they should do is let the Democrats have control of the economic arguments when they are the ones responsible for the current situation.
McCain should pose the following questions to the American people:
- How does taking money out of the economy by raising taxes sustain current jobs and create new ones since less money means less spending?
- How does raising taxes on investment going to encourage investment and the creation of new jobs?
- How does blocking new oil from making it to market help lower the price of gasoline?
Every dollar that is spent in the economy becomes income for someone else. Every dollar saved or invested helps create jobs. Democrats want to do everything possible to take money out of the economy and harm American jobs. McCain and the Republicans need to speak up about this. It’s basic economics, and the DFL is on the wrong side of the argument.