Thursday, August 21, 2008

Nerd Analysis: Obama's Fiscal Plans are "Statist"

R. Glenn Hubbard, dean of Columbia University Business School, looks at Obama's tax-and-spend ideas and finds them lacking in his analysis: "We Can't Tax Our Way Out of the Entitlement Crisis."

My favorite bits out of the whole piece? Hubbard's criticism of the European socialistic economic model and this ending quote:
The problem with Mr. Obama's fiscal plans is not that that they lack vision. On the contrary, the vision is plain enough: a larger welfare state paid for by higher taxes. The problem is not even that they imply change. The problem is that his plans are statist.
Precisely. You know how I feel about tax-and-spend -- and about statism too.

Also, hmmm, what to do, what to do about the money crunch? May I suggest the completely obvious starting points of:
  • Reduce entitlement spending. Heck, reduce government spending, period.
  • Promote economic growth. This includes cutting business taxes too, you know.

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