Checking out Obama’s economic plan

posted at 7:48 pm on February 16, 2008 by Bryan

It’s linked off the Obama campaign web site and was apparently authored and released on January 29. Christopher Markowski calls it “Red Dawn II” and says that it’s straight Communism. I’m not sure I’d go that far, but this section from page 3 contains a howler.

obama-plan.png

So, since some people are too lazy to work on their own retirement plan, let’s force employers to do all the work for them. That’s how the highlighted part of that reads. It requires work on the part of individual citizens, so let’s take the decision away from them unless they explicitly sign a paper taking it back.

From page 2, Obama opines on the IRS.

obama-plan002.png

Pre-filled tax returns, eh? I bet a lot of people go for this, but I can think of two problems with it. First, will the IRS aggressively look for and include all of your legal deductions? Unlikely. Second, if the IRS fills out your tax form, are you indemnified if there’s a problem?

At six pages it’s pretty short, but if I had to characterize the Obama plan I would say that it emphasizes what the government can do too much and puts too little emphasis on what the private sector can do if the government gets out of its way. To the extent that the private sector is mentioned, it’s in the context of failure — mortgage mess, employer-employee retirement relationships, “predatory” credit card companies, etc — while the dynamism and power of the uniquely American free market isn’t acknowledged. That’s a shame, because our free market system powers the world and keeps us economically strong enough to be a beacon of strength and freedom. I’m not sure that Obama understands that.


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Comments

So be sure to stay home and don`t dare vote for McCain. Everything will be o.k. :)

ThePrez on February 16, 2008 at 7:54 PM

So be sure to stay home and don`t dare vote for McCain. Everything will be o.k. :)

ThePrez on February 16, 2008 at 7:54 PM

You’re right. McCain will send out money to Mexico, and raid SS to do it ;-)

TOPV on February 16, 2008 at 7:56 PM

Geez, 2012 is right around the corner. We’re all going to die some kind of horrible surprise in 2012.

Just read the Mayan calender.

Let’s not bicker and argue over whom will withhold what for who.

We don’t have that much time left.

Dorvillian on February 16, 2008 at 7:58 PM

As if McCain is any more competent as an economist.

The only thing McCain knows about getting money is having the taxpayers and his wife give it to him.

We are in deep economic ‘kimchi’ no matter which one of these bozos gets elected.

LegendHasIt on February 16, 2008 at 8:00 PM

I know everyone here distrusts McCain, that`s a given. But do you think it`ll be easier to stop the rise of socialism with President Barak Obama than President John McCain? If Obama wins, congressional elections will see liberals riding his wave and the House and Senate will be even more liberal.

America first, people. Party second.

ThePrez on February 16, 2008 at 8:01 PM

Hola, komrades! Nice weather we’re today in our workers’ paradise, no?

Dr.Cwac.Cwac on February 16, 2008 at 8:01 PM

I don’t know. I’m economically conservative, but realistically if people don’t save for retirement, the government is going to end up footing their bill. It may not be the world we want to live in, but this detail seems unlikely to change soon. I’d rather force people to save for themselves than pay for them later. Am I missing something in your objection to what Obama has to say here?

Here are two objections that I saw after glancing at Obama’s plan for fifteen seconds. First, the Credit Card Bill of Rights to Protect Consumers is pretty ignorant of basic economic theory. For instance, economics tells us that the provision to apply rate increases only to future debt punishes those people who use credit cards for short term debt to reward the irresponsible who carry long term debt on their credit card. I doubt that the Obamaists have that intention.

Second, how does the Obama plan to “stimulate economic growth” work? Isn’t really the only the government can to do to help in the long is to stay out of the way?

I’d guess that at least 75% of the sentences in Obama’s plan contradict basic economic common sense, but doing the actual counting seems a tad too obsessive.

thuja on February 16, 2008 at 8:07 PM

We are in deep economic ‘kimchi’ no matter which one of these bozos gets elected.

Big differences between McCain and Obama on capital gains taxes. McCain wants them kept at 15% while Obama wants to raise them to as much as 34%. Obama, and his Democrat congress, is looking forward to having the government intrude on business in ways that McCain would not.

dedalus on February 16, 2008 at 8:08 PM

Those two proposals look reasonable to me. If he takes advantage of the inertia of employees to ease them into saving for themselves, that’s fine with me. Why it has to roll into the next employers plan escapes me. Why not just leave it an the investment company?

As for the automatic tax form, that seems like a reasonable idea also. That would probably work for a lot of people. A simple website would work for me, where I add in the mortgage and charitable amounts. No need for me to install some rootkit-laden tax software.

pedestrian on February 16, 2008 at 8:09 PM

That’s a shame, because our free market system powers the world and keeps us economically strong enough to be a beacon of strength and freedom. I’m not sure that Obama understands that.

Of course he understands that. Just like the pro-illegal immigration people understand what their policies and ideas would do to this country. Barack Obama is a pure blooded communist and a clear enemy of the United States. Why else would he be trying to foist this crap on the American people?

And even if he doesn’t get our free market system and the importance of it, he’s still just as dangerous. Remember that the road to hell is paved with good intentions. Either way, this jackass clown is even worse than the Clintons MUST BE DEFEATED.

There is nothing that the terrorists could do to us from without that would be as devastating as what people like Obama would do to us from within. And as long as we’re on the topic of terrorists, let’s not forget that Obama would bow down and capitulate to them too.

John on February 16, 2008 at 8:10 PM

I hate McCain, but he’s what we’re left with. I can’t believe that people would actually stay home to make a point. If you think that it will be easier to overturn or stop anything from the dems than McCain, you’re an idiot. Did I want Thompson? Yes. Did I want Romney? Yes.

I’m starting to give up on the right-wing blogosphere. Too many idiots who would give up the future for the sake of their freaking “ideals”…

prolix on February 16, 2008 at 8:14 PM

Can I sign a form to opt out of Social Security? If so, I would vote for him then. But we all know that will not happen.

azcop on February 16, 2008 at 8:17 PM

Why does Obama mess around with all the subterfuge? Why not just collect everything and then dole out what he thinks we need. I obviously cannot handle my day to day life. The government will be so much more proficient managing my finances. They’re performing swimmingly managing the government’s finances…. I mean that’s why the GAO head resigned, right?

Please save me from myself, comrade Obama. I’m about to faint here…. I could use some water, or a nice place to lie down.

Cold Steel on February 16, 2008 at 8:19 PM

Big differences between McCain and Obama on capital gains taxes

That’s the least of my concerns. I’m much more worried about McCain’s intent to drastically increase fuel taxes; His Cap and Trade ‘Gorebal Warming koolaid drinking’ and other plans to destroy the last little bit of American productivity.

LegendHasIt on February 16, 2008 at 8:19 PM

As for the automatic tax form, that seems like a reasonable idea also.

pedestrian on February 16, 2008 at 8:09 PM

First, will the IRS aggressively look for and include all of your legal deductions? Unlikely. Second, if the IRS fills out your tax form, are you indemnified if there’s a problem?

Bryan

Bryan raises two good points here. The first one is pretty straight forward. The second one is a little more complex in its implications.

If the IRS CAN’T audit you because of discrepancies on a tax form THEY filled out, then you needn’t worry about reporting any income that they didn’t discover. (BTW just HOW are they going to track ALL your sources of taxable income for you?)

If the IRS CAN still audit you after they messed up what’s the benefit?

Deety on February 16, 2008 at 8:23 PM

I agree with giving into “ideals” as stated above. It’s foolish.

I have repeated this over and over and it’s not a new concept. DON’T STAY HOME, DON’T WRITE SOMEONE IN, DON’T VOTE DEMOCRAT FOR SPITE.

Good grief, we all agree McCain is not our first choice, but he’s what we have and a heck better, actually there is no comparison with what you would get with Obama or Hillary.

Hold your nose and vote for him like his own mother said and stop moaning about it.

Conservatives R Us on February 16, 2008 at 8:25 PM

Hold your nose and vote for him like his own mother said and stop moaning about it.

Conservatives R Us on February 16, 2008 at 8:25 PM

I may vote for him but I reserve the right to keep on “moaning” about my Senator as I have proudly done since ’98!

Deety on February 16, 2008 at 8:28 PM

Deety on February 16, 2008 at 8:23 PM

I don’t see a need to idemnify the taxpayer. If there is a mistake on my W2, its my problem not the employers. Heck, if the employer runs off with my withheld taxes, I still owe the taxes. It’s just a convenience, like being able to renew a license plate online instead of standing in line at the DMV.

And if someone is too stupid to look for deductions, since when did that become my problem? By that logic, they should get rid of the 1040EZ.

pedestrian on February 16, 2008 at 8:30 PM

Hold your nose and vote for him like his own mother said and stop moaning about it.
Conservatives R Us on February 16, 2008 at 8:25 PM

In other words: “if rape is inevitable, just lay back and try to enjoy it”.

LegendHasIt on February 16, 2008 at 8:34 PM

His Cap and Trade ‘Gorebal Warming koolaid drinking’ and other plans to destroy the last little bit of American productivity.

Obama favors the same plan and would be no better on the issue.

dedalus on February 16, 2008 at 8:35 PM

Obama favors the same plan….

I never said he didn’t. As I keep saying: we are screwed no matter which one of those bozos we elect.

LegendHasIt on February 16, 2008 at 8:38 PM

pedestrian on February 16, 2008 at 8:30 PM

Of course, I’m one of those that believes that “withholding” was a scam cooked up to fool people into thinking that they don’t really pay that much in taxes and was sold as a great “convenience” for the tax-payer.

Deety on February 16, 2008 at 8:45 PM

I never said he didn’t. As I keep saying: we are screwed no matter which one of those bozos we elect.

I think with Obama’s positions on Iraq, taxes, and judges we are screwed worse.

dedalus on February 16, 2008 at 8:47 PM

So small business owners who already have enough crap to deal with will be required to set up IRA’s for their employees who won’t do it themselves. That is BS. And it seems that this proposal would also mandate that an employer use a direct deposit payroll system. Why force someone who only has a few employees to do this?

Mark1971 on February 16, 2008 at 8:48 PM

As if everyone (almost everyone) here didn’t know it already, if we lose both the WH and Congress, this country’s in for a major transformation, the end of America as we know it. Not a pleasant thought.

petefrt on February 16, 2008 at 8:52 PM

Why not just skip all the boring stuff and just go ahead and seize all private business and all private property. People will go to work without pay, but all food, housing, medical services will be free.
We all no the evils of capitalism. Government control will free us all.

JellyToast on February 16, 2008 at 8:57 PM

People will go to work without pay,

JellyToast on February 16, 2008 at 8:57 PM

You’ve been watching too much Star Trek :)

OldEnglish on February 16, 2008 at 9:02 PM

Everybody needs to understand the first axiom of Obamanomics:

Always use more government intrusion to fix any issues caused by government intrusion.

Cold Steel on February 16, 2008 at 9:06 PM

In other words: “if rape is inevitable, just lay back and try to enjoy it”.

LegendHasIt on February 16, 2008 at 8:34 PM

Now your catching on.

billy on February 16, 2008 at 9:06 PM

I can think of two problems with it. First, will the IRS aggressively look for and include all of your legal deductions? Unlikely. Second, if the IRS fills out your tax form, are you indemnified if there’s a problem?

Bryan

Only two? How about a few more?

– I just did our full 1040 with itemized deductions, and then my daughter’s 1040 (itemized by law because her idiot summer employer paid her by 1099), and then my other daughter’s 1040EZ, and then two FAFSAs, and a CSS profile — all in less than 6 hours. 28 hours? For what?

– Expensive tax preparers? Intuit’s TurboTax will do any 1040EZ for W2’d employees with less than $30,000 of income for free, online, and you’ll have a refund in 8 days. Free…8 days.

– By far the most time-consuming part of the tax return was researching and adding up our medical expenses for deduction on Schedule A. Out on a limb: I’ll bet less than 1% of taxpayers itemize medical for Schedule A.

200 million hours? Obama’s an idiot. Maybe he’s never done a 1040 before; he doesn’t seem bright enough to figure one out.

– Anyone tell me how the IRS is going to figure out my medical expenses for deduction? My deductible non-reimbursed business expenses? Anyone? Obama? Bueller?

Jaibones on February 16, 2008 at 9:43 PM

Obama’s economic play was written by a dubie.

rockhauler on February 16, 2008 at 9:52 PM

The only thing that really damages the free market and hinders it and drives it into problems is INTERFERENCE with it, from the government.

mattyj86 on February 16, 2008 at 10:29 PM

You guys need to read the healthcare plan. It is downright scary.

bloggless on February 16, 2008 at 10:45 PM

You’ve been watching too much Star Trek :)

OldEnglish on February 16, 2008
Some times I wish I had a phaser. I could rule the world! lol!

JellyToast on February 16, 2008 at 10:59 PM

Some times I wish I had a phaser. I could rule the world! lol!

JellyToast on February 16, 2008 at 10:59 PM

I know where I’d like to shove a couple of photon torpedoes :)

OldEnglish on February 16, 2008 at 11:29 PM

I hate McCain, but he’s what we’re left with. I can’t believe that people would actually stay home to make a point. If you think that it will be easier to overturn or stop anything from the dems than McCain, you’re an idiot. Did I want Thompson? Yes. Did I want Romney? Yes.

I’m starting to give up on the right-wing blogosphere. Too many idiots who would give up the future for the sake of their freaking “ideals”…

prolix on February 16, 2008 at 8:14 PM

I can’t take talk radio anymore. I am beginning to think they aren’t for anything they just complain about everthing and everybody.
This holier-than-thou is is getting old and dangerous, if anyone thinks this nation is better of with a Clinton or Obama presidency is sadly mistaken

KBird on February 16, 2008 at 11:51 PM

As if everyone (almost everyone) here didn’t know it already, if we lose both the WH and Congress, this country’s in for a major transformation, the end of America as we know it. Not a pleasant thought.

petefrt on February 16, 2008 at 8:52 PM

No. Ann Coulter and I believe that letting the Dems have both the WH and Congress for two years will give conservatives a chance to regroup and counter-attack. I (and not Ann Coulter) would strongly state that this plan involves the Senate Republicans being able to filibuster the more stupid ideas of the Democrats.

The utmost importance of the filibuster is why I have zero patience for the idiots of the right condemning McCain for being part of the “Gang of the 14”. The filibuster is essential and will be essential to stopping the more idiotic socialistic ideas from becoming law when the right goes out of favor as it inevitably will from time to time.

thuja on February 17, 2008 at 12:07 AM

This holier-than-thou is is getting old and dangerous…

KBird on February 16, 2008 at 11:51 PM

Which one?

This one?

I kid. I kid.

I kid because…
well it’s all I have left.

For now.

Deety on February 17, 2008 at 12:15 AM

As a CPA, I love the idea that Obama would have the the IRS fill out “draft” returns for taxpayers. It would dramatically cut down on a couple of the more popular bits of nonsense that people keep pushing about taxes.

The first is that tax rates are the primary source of taxpayer confusion. Actually, tax rates — progressive, regressive, humped, flat — are pretty simple. Coming up with taxable income, on the other hand, can be fiendishly complex.

The second is that the IRS is some sort of all-powerful, all-knowing entity. In truth, the IRS frequently demonstrates a lack of understanding of the law (see http://findarticles.com/p/articles/mi_m1272/is_2716_133/ai_n8686134), and a severely limited vision of the facts. By forcing the IRS to put all its cards on the table in advance, this would be demonstrated to anyone who might file a return. As an added bonus, anyone with undocumented income would lose any incentive to report it.

Third, such a move would completely torpedo the common perception that tax preparers contribute nothing to society. Untangling the ugly, snarled messes that this plan would certainly produce would be a huge windfall to the industry.

As amusing as this scenario might be, however, I couldn’t bring myself to consider any efforts toward its realization. All the chaos it would produce would severely and negatively impact the country and the economy. Guess I’ll have to pull the lever for someone else….

cthulhu on February 17, 2008 at 12:24 AM

Untangling the ugly, snarled messes that this plan would certainly produce would be a huge windfall to the industry.

cthulhu on February 17, 2008 at 12:24 AM

Wouldn’t this plan also be a major dis-incentive to engage in those types of activities more likely to produce ugly, snarled messes as well? Activities such as investing and making more than a set amount such as the $1,500 interest which IIRC currently disqualifies one from filing using the 1040-EZ form?

Deety on February 17, 2008 at 12:41 AM

What the Soviet Union tried to do for 70 years the idiots hypnotized by Obama will be able to accomplish in one election. Irony workers of the world unite!

Igor R. on February 17, 2008 at 12:57 AM

Can’t give the Obamites all that much credit Igor. Others started grading the roadbed here decades ago.

Deety on February 17, 2008 at 1:20 AM

Deety, I understand. It took about two generation to get the educational system to produce enought idiots who were idiots enough to be hypnotized by him, among other things. But this is just SO classic: someone named Barak Hussein who is either a closet Muslim or a closet Communist, or both, or an out of the closet Communist Muslim, or something is just SO warmly received.

Igor R. on February 17, 2008 at 1:28 AM

Well, cocoon kids in bubble wrap, strap dorky looking bike helmets on their heads, fertilize their feelings of unwarranted self-esteem with horse manure and you’re bound to get a reaction.

Campaign 2008: The year of living dangerously

Deety on February 17, 2008 at 1:36 AM

Campaign 2008: The year of living dangerously

Deety on February 17, 2008 at 1:36 AM

Well, I’m not naturally given to the “end of the world” feelings, but they are getting hard to resist. I honestly think that barring any dramatic occurances, like substantial acts of terrorism or deaths of one or more of the main players, the history of the US as we know it has come to an end.

Igor R. on February 17, 2008 at 1:41 AM

Actually there is no good scenario at all. No matter who wins, the illegals will be legalized which will mean the end of the US. It could only get worse from there.

Igor R. on February 17, 2008 at 2:06 AM

Igor, I’m not really feeling all that apocalyptic yet.

I’m still hopeful that the grownups will get over their nostalgia about youthful flirtations with radical chic.

I think a little hyperbole serves to snap some people out of their fantasies or at least it relives MY tension caused by watching people who should know better act like loons.

Deety on February 17, 2008 at 2:06 AM

Deety on February 17, 2008 at 2:06 AM

Well the legalization of illegals is pretty likely regardless. Once they are legalized, they WILL get at least 20 million more, and that will mean a permanent Democratic majority. While that doesn’t mean permanent Marxism, it will have very serious consequences for decades.

Igor R. on February 17, 2008 at 2:10 AM

The thought of a permanent majority enthralled by the welfare state is just as worrisome to me as anyone else here.

The only comfort in a possible McCain administration is that this would be an unintended consequence of his previous policies being enacted. Which is why I may hold my nose but I’ll not shut my mouth.

With Obama or the rest of the far left I have no illusions of them turning around in 20 years and saying, “Ooops, didn’t see that one coming!”

Deety on February 17, 2008 at 2:16 AM

The thought of a permanent majority enthralled by the welfare state is just as worrisome to me as anyone else here.

The only comfort in a possible McCain administration is that this would be an unintended consequence of his previous policies being enacted. Which is why I may hold my nose but I’ll not shut my mouth.

With Obama or the rest of the far left I have no illusions of them turning around in 20 years and saying, “Ooops, didn’t see that one coming!”

Deety on February 17, 2008 at 2:16 AM

Well I have to go, but my last comment is this: if you statistically evaluate the likelihood of a horrible outcome given any reasonable assumptions, it’s extremely high. This is not apocalyptic, this is just reality. We got to this point while keeping hope alive for at least one good candidate, but we are where we are.

Igor R. on February 17, 2008 at 2:21 AM

Ha! I didn’t know Obama was a budding comedy writer? Good stuff. Good, good, stuff.

First: That pension plan is further proof that the communist democratic party has no belief in personal responsibility and has no faith that people are capable of socking away 10% of their weekly earning on their own.

Second: The IRS filling out tax forms? No problems there. /sarcasm.
Isn’t this the exact type of thing people have been grousing about with the ‘predatory’ mortgage lenders who would fill out forms for people who then conveniently decided not to read what was on there?

I have yet to read a perfect economic program ever, but this one is a special kind of crappy.

MannyT-vA on February 17, 2008 at 2:57 AM

Deety on February 17, 2008 at 12:41 AM

I suspect that would be anything beyond W-2 wages.

cthulhu on February 17, 2008 at 3:19 AM

So small business owners who already have enough crap to deal with will be required to set up IRA’s for their employees who won’t do it themselves. That is BS. And it seems that this proposal would also mandate that an employer use a direct deposit payroll system. Why force someone who only has a few employees to do this?

Mark1971 on February 16, 2008 at 8:48 PM

There’s no such thing as a small business in Obamaworld: all employers are evil millionaires gorging themselves on the hard work of their enslaved minions — but hope is on the way — the loving government will right all wrongs in the workers’ paradise!

I wish I were kidding. I really do.

Nichevo on February 17, 2008 at 5:13 AM

Pffft.

So Obama’s big idea is to have employees enrolled in a 401(k) plan by default instead of having to explicitly opt in.

Such creative, innovative leadership…no wonder the ladies are swooning during his speeches.

flipflop on February 17, 2008 at 7:09 AM

I lost my home, my business, everything to the government because of a mistake by the IRS. (long story)

Having the tax collectors fill out the tax collection form is insane. Thinking that they are doing so to “help” us is insane. The IRS does not exist to “help us”.

I do my taxes every year now with TurboTax which fills in everything automatically – just like the IRS would do. I then send the completed form to my tax attorney for review. He always finds enough to cover his fee and then some.

Rod on February 17, 2008 at 7:58 AM

flipflop on February 17, 2008 at 7:09 AM

Exactly. There is no “there” there. Empty.Suit.

Jaibones on February 17, 2008 at 8:07 AM

I’ll bet H&R Block is just thrilled with this concept.

swami on February 17, 2008 at 9:53 AM

Lets see, money deducted from one’s paycheck and added to a pension plan, which the employee can leave as is or excercise some control. The plan is portable, and carries over to a new job. Forced savings, government mandated. Isn’t that the Social Security reform plan that GW Bush put out a few years ago? And wasn’t it “disastrous” in the view of the left?

iurockhead on February 17, 2008 at 10:41 AM

So be sure to stay home and don`t dare vote for McCain. Everything will be o.k. :)

ThePrez on February 16, 2008 at 7:54 PM

Two wrongs don’t make a right, chumley.

Montana on February 17, 2008 at 12:33 PM

I plan on staying unemployed and getting some girl pregnant, even though I’m married.

What? Won’t the government pay for all of the counseling my new family and my will need? And isn’t that what happens in an open society?

Morals, conviction, vision, and individual responsibility are what this nation needs, not a one-trick pony with no resume and who wants to be a modern day Robin Hood.

madmonkphotog on February 17, 2008 at 2:26 PM

You can’t forget these great ideas either:

GLENN: Okay, this is a great sounding bill, it really is. The Global Poverty Act just passed. It was number 4 on the list of things to do today, on Valentine’s Day. My heart to you. It is sponsored by Barack Obama. Now, yesterday so you know, Barack Obama said, and I quote, it’s time to stop spending billions of dollars a week trying to put Iraq back together and start spending the money on putting America back together. Got it? He wants to put America back together. That’s why he proposed $210 billion yesterday to create jobs, $210 billion to create jobs. That, by the way, is a 2, a 1 followed by 10 zeroes. He wants $150 billion to create 5 million green collar jobs to do things for the environment. $150 billion, green collar jobs. Environmentally friendly energy sources will be found. It will be fantastic. He wants $60 billion to go to a national infrastructure reinvestment bank to rebuild highways, bridges, airports and other projects. He says he can create the — the Government will generate 2 million jobs. It sounds like work projects. My gosh, how great. It sounds just like the new deal. These two million jobs, many of them will be in construction, which has been hit by the housing crisis. So don’t worry. We’ll fix it as the Government.

So he’s proposing $210 billion yesterday and saying it’s time to stop spending billions of dollars trying to put Iraq back together and start spending the money on putting America together. At the same time he proposed the Global Poverty Act. It just today passed the Senate. This is great.

Senator Biden trying to rush the Global Poverty Act through his committee, got it done. It now, if it passes — it already has passed the House mainly because people didn’t read it. If it passes now in the Senate, it will commit the United States to spending .7% of our gross national product on foreign aid, which will amount to a phenomenal $845 billion over what we already spend on foreign aid. But here’s the great thing. It doesn’t commit it to — we’re not committing to ourselves. We’re committing to the United Nations. The United Nations will take the .7% of our GDP and — wait a minute. That kind of sounds like — a poverty act. That almost sounds like a global tax. A release from Obama’s Senate office says the U.S. joined more than 180 countries with the United Nations Millennium Summit and vowed to reduce global poverty by 2015. But we’re halfway there and it’s time the United States makes this a priority, to develop and implement a comprehensive strategy to further the United States foreign policy objective in promoting the reduction of global poverty.

Now, the bill has defined the term millennium development goals as the goals set out in the declaration given by the United Nations. Just so you know, those Millennials goals not only care about poor starving children, there’s other ideas in there as well. For instance, the declaration commits nations to ban small arms and weapons, ratifying a series of treaties including the International Criminal Court treaty, the Kyoto protocol, the Convention on Biological Diversity. The what? The Convention on Biological Diversity? I don’t even know what that means. “We would be committed to the ratification of the convention on the elimination of all forms of discrimination against women.” Does that mean the United Nations will suddenly fight Islamic extremism with us! No. No, why would that — uh-uh. That’s just diversity. “Also we would ratify the convention on the rights of a child.”

http://www.glennbeck.com/content/articles/article/198/5991/?ck=1

funky chicken on February 17, 2008 at 2:41 PM

The pension plan issue is straight University of Chicago behaviorial finance – which should come as no surprise, since that’s where Obama used to teach and that’s where his economic advisors are from. For a number of years, Professor Richard Thaler has bandied about the observation that people are more likely to save for retirement if they have to willingly choose not to save (Obama’s plan) than if they willingly have to choose to save (status quo). This, I believe, is based on actual studies of human behavior in this situation.

The problem, in my opinion, is that instead of requiring all workers to have IRA plans, Obama shifts the onus on to employers. I’m not sure why he does this, because it sounds like employers aren’t required to contribute anything at all to the plan, and it makes things harder when an employee leaves one job and goes to another. Instead, if you wanted to achieve the goal of wider retirement savings (a laudable goal, if not necessarily one for the government to solve), it would be simpler to require everyone to have an IRA and when they change jobs, they tell their employers how much to deduct pre-tax.

I guess, though, that would give too much power to the individual, especially in case if they screwed up their account – they would have no one to blame but themselves, and we can’t have that!

furytrader on February 17, 2008 at 3:13 PM

Re: #2 in the article,

If you change the IRS “default settings,” does that trigger an audit?

Face it, Obama’s a freaking maniac. He either has no freaking clue about economics or he just plain doesn’t care about or doesn’t believe in consequences.

Too many people like that.

Merovign on February 17, 2008 at 3:40 PM

I don’t know. I’m economically conservative, but realistically if people don’t save for retirement, the government is going to end up footing their bill. It may not be the world we want to live in, but this detail seems unlikely to change soon. I’d rather force people to save for themselves than pay for them later. Am I missing something in your objection to what Obama has to say here?

thuja on February 16, 2008 at 8:07 PM

Yes, you are missing something. If people don’t save for themselves, they just need to keep working. It’s their fault, not “society’s”, period. After they can’t work, they can turn to family. If family won’t help (or isn’t an option after the Left destroys the family), they can go to private charities. If that doesn’t work for whatever reason, they can be packed away into a low-cost, locally-run county poorhouse so they aren’t in my way when I walk down the sidewalk. Stupidity should not be rewarded with public money.

And just for the record, no, I don’t know what it’s like to be poor, because I’ve always been willing to work for a living.

Tommygun on February 17, 2008 at 5:38 PM

I thought that is what SS was all about?

Does this mean Obama think’s I should not count on SS and invest elsewhere and force me to invest in other markets?

Tell you what I will buy into that plan once I am free to use the money deducted every pay period for FICA, and use it to pay my finicial advisor and invest it in a way I/advisor choose.

It certainly will not be going into SS.

F15Mech on February 17, 2008 at 7:51 PM

Tommygun on February 17, 2008 at 5:38 PM

Exactly

Someone else’s poor planning is not my emergency.

I am taking the time to plan for my retirement now, every pay period money leaves my pay check (before I see it) and get invested in a mixture of Stocks, 401k, Roth 401k, IRA and even SS.

Because I am the first to admit, that when it comes to money if I have it I will spend it, I also pay for a financial adviser to handle everything and adjust my lifestyle accordingly.

If I could give the FICA money to my adviser to invest, instead of SS, I would be all over that.

F15Mech on February 17, 2008 at 8:12 PM

This guy is going to be President and the country is headed for economic and foreign policy disaster. As much as I dislike McCain I am going to enthusiastically vote against Socialism.

This shapes up to be a bad year for Republicans and the country no matter what happens in the election. If McCain wins, he is a lukewarm Republican and Conservative at best. He will spend time “reaching across the aisle” to the likes of Harry Reid and Ted Kennedy and the GOP will lose more seats in the House and Senate just like the lukewarm conservatives George H. W. Bush and his son when they were President. If Hillary or Obama wins we will have a
Socialist President but the GOP will gain in midterm elections but the nation will suffer economically from the socialist policies and will also suffer diplomatically as we try to make nice to our enemies. Thank you very much GOP Establishment for your “line of succession” approach to nominees. Zbigniew Brezsinzski is Obama’s foreign policy adivsor and likely Secretary of State. Chew on that.

Hilts on February 17, 2008 at 9:15 PM

I hate McCain, but he’s what we’re left with. I can’t believe that people would actually stay home to make a point. If you think that it will be easier to overturn or stop anything from the dems than McCain, you’re an idiot. Did I want Thompson? Yes. Did I want Romney? Yes.

I’m starting to give up on the right-wing blogosphere. Too many idiots who would give up the future for the sake of their freaking “ideals”…

prolix on February 16, 2008 at 8:14 PM

I agree with everything you wrote. The vitriol against Giuliani on this website was awful at times. I supported Giuliani, Romney, then Thompson in that order. Now faced with the very real danger of a vapid Socialist named Barack Obama who has the media shilling for him we are in for it in NOvember.

Hilts on February 17, 2008 at 9:20 PM

As much as I dislike McCain I am going to enthusiastically vote against Socialism.

If McCain wins, he is a lukewarm Republican and Conservative at best. He will spend time “reaching across the aisle”

Thank you very much GOP Establishment for your “line of succession” approach to nominees.

Hilts on February 17, 2008 at 9:15 PM

Why would I want to for any Republican when the party continues on they path they are currently on?

I get it now…

Don’t let a liberal take your guns away…Vote for Rudy and have a Republican from NY do it instead. (Another mayor of NY is breaking the law by trying to take my rights away in VA).

Don’t worry about the untraceable illegal’s living next door…vote for McCain and he will make sure no one is illegal by granting full citizenship to everyone.

Don’t worry about how you spend you money…If you want to donate to a candidate, you can (however certain restrictions apply).

Don’t worry about the liberals in power, McCain will be there to sell out your beliefs when he “crosses the aisle” as he is famous for.

Aside from the WOT McCain and I have nothing in common, neither does the GOP.

And yet I am still supposed to vote for the lesser of two evils.

The only reason we are at that point is that we have done that one to many times.

F15Mech on February 17, 2008 at 10:37 PM

*cough*Fair Tax*cough*

Claire on February 18, 2008 at 2:21 AM

Two wrongs don’t make a right, chumley.

Montana on February 17, 2008 at 12:33 PM

But three lefts do!

flipflop on February 18, 2008 at 9:35 AM