McCain could not have made a better choice. Sarah Palin is young, attractive, smart, oil/energy savvy, and just as unknown as Bill Clinton was when he entered the national limelight.
Democraps will cry that she has no experience yet have no problem trying to foist on this country a communist, former-Muslim (actually Obama's only good quality), anti-business, tax-and-spend know-nothing community-organizer nobody who has less experience governing than Sarah Palin.
I have heard her speak on radio interviews a number of times and I believe that we have the makings of another Reagan. We will see how she holds up with the press in the coming months. It's shaping up to be an interesting election.
I think Palin has a chance to be the first woman Vice-President for the following two reasons:
- If McCain wins in 2008 he may not run again in 2012 for reasons of health or death; in which case she would make a natural Presidential candidate.
- If Obama wins in 2008 the country will be in such a despicable state that no Democrat will be elected President for another few decades. I believe even if McCain loses the conservatives will remember how well she appeared in the 2008 campaign run.
2008 TALKING POINTS
Washington Post - Fact Checker: Obama
Washington Post - Fact Checker: McCain
I have added more detailed links and explanatory material below and in fairness to Obama I have included his new, revised tax plans from his website:
Capital Gains Taxes
Obama favors taxing more of capital gains, not because it brings in more revenues, but it keeps so-called "rich" people from making too much money- to be more "fair":
On The Issues, Barack Obama on Tax Reform
Q: You favor an increase in the capital gains tax, saying, "I certainly would not go above what existed under Bill Clinton, which was 28%." It's now 15%. That's almost a doubling if you went to 28%. Bill Clinton dropped the capital gains tax to 20%, then George Bush has taken it down to 15%. And in each instance, when the rate dropped, revenues from the tax increased. And in the 1980s, when the tax was increased to 28%, the revenues went down.
A: What I've said is that I would look at raising the capital gains tax for purposes of fairness. The top 50 hedge fund managers made $29 billion last year--$29 billion for 50 individuals. Those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries. That's not fair.
Q: But history shows that when you drop the capital gains tax, the revenues go up.
A: Well, that might happen or it might not. It depends on what's happening on Wall Street and how business is going.
Obama has since backpedaled his Capital Gains tax downward to 20%:
BarackObama.com, FactSheet Tax Plan Final PDF
Capital Gains: Families with incomes below $250,000 will continue to pay the capital gains rates that they pay today. For those in the top two income tax brackets – likewise adjusted to affect only
families over $250,000 – Obama will create a new top capital gains rate of 20 percent.
Taxes on Dividends
Obama has since revised his Dividend tax rate downward to 20%:
BarackObama.com, FactSheet Tax Plan Final
Dividends: The top dividends rate for people making over $250,000 would be set at 20 percent.
NY Sun, 15 Jul 2008, Obama Capital Gains Tax Hike Would Hit N.Y. Hard
According to the Institute for Research on the Economics of Taxation, Mr. Obama's tax hike would knock off $2.5 trillion in capital formation over five years, or nearly 2% of gross domestic product.
Mr. Obama is not only proposing raising the capital gains and dividend tax to 25% but will allow much of the Bush tax cuts to expire, including allowing the top individual income tax rate to return to 39.6%.
Defending his plan in a debate in April, Senator Obama spoke of the need for "fairness."
Obama has not changed his proposal for a higher income tax rate in his website's fact sheet:
BarackObama.com, FactSheet Tax Plan Final
Ordinary Income: The top two income tax brackets would return to their 1990’s levels of 36% and 39.6%.
AARP, 17 Jun 2008, McCain, Obama Offer Different Visions on Taxes
The estate tax is phasing out and is completely eliminated for 2010, but it snaps back to 2001 levels -- a 55 percent top rate with the first $675,000 exempt -- at the end of that year. McCain wants a 15 percent rate, and a $5 million exemption, while Obama advocates a 45 percent rate and a $3.5 million exemption.