John McCain

McCain’s economic advisors: Doug Holtz-Eakin source Holtz-Eakin is a formerly respected academic and government economist who has been reduced to making distortionary arguments to paper over the massive deficit black hole McCain’s tax cuts would create. Arthur Laffer source Laffer is the originator of the Laffer curve, the fringe view that claims government revenue increases when tax rates are lowered. There is zero empirical evidence this is true at current tax rates. McCain has repeatedly said that he believes this foolishness, but Holtz-Eakin has said (also repeatedly) that McCain does not. Phil Gramm source Gramm is a lobbyist who was vice president of one of the investment houses most heavily implicated in the mortage industry scandal. As a senator he pushed for the banking deregulation that contributed to the current crisis. See more here. Kevin Hassett source Hassett has been widely ridiculed for writing the book Dow 36000: The New Strategy for Profiting from the Coming Rise in the Stock Market in 1999, predicting that the Dow would hit 36,000 within five years, if not sooner. Donald Luskin source Luskin has been repeatedly named the Stupidest Man Alive by Brad Delong. See here for an example. I can attest based on my own interaction with him a few years back that in addition to being not the sharpest tack in the box, he is also an extremely unpleasant person. Nancy Pfotenhauer source Pfotenhauer is a pure distilled product of Koch Industries, an oil company which funds much of the right wing message machine. See here for details. Carly Fiorina source Fiorina was spectacularly fired from her previous job as CEO of HP. According to the Times, … Republicans say Ms. Fiorina is using the McCain campaign to rebuild her image after her explosive tenure at Hewlett-Packard. They also say it is hard to see why a woman widely criticized for mismanaging one of Silicon Valley’s legendary companies is advising and representing a candidate who acknowledged last year that he did not understand the economy as well as he should. Regarding Fiorina, Jeffrey Sonnenfeld, the senior associate dean for executive programs at the Yale School of Management, says “What a blind spot this is in the McCain campaign to have elevated her stature and centrality in this way. You couldn’t pick a worse, non-imprisoned C.E.O. to be your standard-bearer.”Obama’s economic advisors: Jason Furman (director of economy policy) source bio Austan Goolsbee (senior economic policy advisor), University of Chicago tax policy expert source Wikipedia website Karen Kornbluh (policy director) source bio Wikipedia David Cutler, Harvard health policy expert source Wikipedia website Jeff Liebman, Harvard welfare expert source Wikipedia website Michael Froman, Citigroup executive source bio Daniel Tarullo, Georgetown law professor source bio David Romer, Berkeley macroeconomist source website Christina Romer, Berkeley economic historian source website Richard Thaler, University of Chicago behavioral finance expert source Wikipedia Robert Rubin, former Treasury Secretary source Wikipedia bio Larry Summers, former Treasury Secretary source Wikipedia bio Alan Blinder, former Vice-chairman of the Federal Reserve source Wikipedia bio website Jared Bernstein, Economic Policy Institute labor economist source bio James Galbraith, University of Texas macroeconomist source Wikipedia website Paul Volcker, Chairman of the Federal Reserve 1979-1987 source Wikipedia Laura Tyson, Berkeley international economist, Bill Clinton economic adviser source Wikipedia Robert Reich, Berkeley public policy professor, former Secretary of Labor source Wikipedia weblog Peter Henry, Stanford international economist source website Gene Sperling, former White House economic adviser source WikipediaMy comment on the Laffer curve–Laffer’s basic point is obviously correct, that there are points at which raising taxes further would cause revenues to decline and points where lowering taxes further would cause revenues to increase (most obviously at a 100% tax rate), but to the best of my knowledge he never did any empirical or mathematical work to show what the Laffer curve actually looks like and what factors play into it. If you don’t know the shape of the curve or where we currently fall on it, you don’t know without testing that raising taxes will reduce revenue or lowering taxes will increase revenue. Factcheck.org looks at the actual effects of some U.S. tax cuts in this regard. I do think that we can speculate that reducing U.S. corporate taxes (currently the highest in the OECD with the exception of Japan) could increase corporate tax revenue, given Ireland’s experience with just that happening. Multinational companies will do their best to book their profits in the countries with the lowest corporate tax rates, thus increasing the tax revenue in those countries. Of course, there are other factors, such as regulatory environment, cost of labor, risk of litigation, etc. ...

Sam Harris has a great op-ed piece at Newsweek: The problem, as far as our political process is concerned, is that half the electorate revels in Palin’s lack of intellectual qualifications. When it comes to politics, there is a mad love of mediocrity in this country. “They think they’re better than you!” is the refrain that (highly competent and cynical) Republican strategists have set loose among the crowd, and the crowd has grown drunk on it once again. “Sarah Palin is an ordinary person!” Yes, all too ordinary. ...

I’ve previously written to critique claims that Sarah Palin is a Christian reconstructionist or dominionist, or that she’s a young-earth creationist or tried to put creationism in the public schools. I still stand behind the former argument, but I think there is now some evidence that she is a young-earth creationist and supported Mat-Su Borough School Board candidates who aimed to put creationism in the public schools, but never got a majority on the school board. There’s also now evidence that Palin is an advocate of pushing an allegedly secularized version of principles from Bill Gothard’s Institute in Basic Life Principles, which I previously wrote about here when serial killer Matthew Murray blamed them for his problems. Palin’s Creationism David Talbot’s article at Salon.com about Sarah Palin’s clashes with Rev. Howard Bess over his book about how churches should deal with homosexuality contained a passage that stated that she is a young-earth creationist: Another valley activist, Philip Munger, says that Palin also helped push the evangelical drive to take over the Mat-Su Borough school board. “She wanted to get people who believed in creationism on the board,” said Munger, a music composer and teacher. “I bumped into her once after my band played at a graduation ceremony at the Assembly of God. I said, ‘Sarah, how can you believe in creationism – your father’s a science teacher.’ And she said, ‘We don’t have to agree on everything.’ “I pushed her on the earth’s creation, whether it was really less than 7,000 years old and whether dinosaurs and humans walked the earth at the same time. And she said yes, she’d seen images somewhere of dinosaur fossils with human footprints in them."Munger said the same thing on his own blog: In June 1997, both Palin and I had responsibilities at the graduation ceremony of a small group of Wasilla area home schoolers. I directed the Mat-Su College Community Band, which played music, and she gave the commencement address. It was held at her [former -jjl] church, the Wasilla Assembly of God. Palin had recently become Wasilla mayor, beating her earliest mentor, John Stein, the then-incumbent mayor. A large part of her campaign had been to enlist fundamentalist Christian groups, and invoke evangelical buzzwords into her talks and literature. As the ceremony concluded, I bumped into her in a hall away from other people. I congratulated her on her victory, and took her aside to ask about her faith. Among other things, she declared that she was a young earth creationist, accepting both that the world was about 6,000-plus years old, and that humans and dinosaurs walked the earth at the same time. I asked how she felt about the second coming and the end times. She responded that she fully believed that the signs of Jesus returning soon “during MY lifetime,” were obvious. “I can see that, maybe you can’t - but it guides me every day."I spoke with Philip Munger by telephone on September 17, hoping to be able to find others who could confirm Palin’s creationist views. Unfortunately, he said that there weren’t other witnesses to his conversation, but he did give me a lot of background information about Palin’s political career. He said that the Wasilla government had been dominated by Democrats until 1994, when it shifted to Republicans and John Stein became mayor. Stein was Palin’s original political mentor, but she decided to run against Stein in 1996, under the tutelage of Alaska State Rep. Victor Kohring, Republican representative from Wasilla, who began a 3.5-year prison term for corruption in July. Munger described Kohring, a member of the Christian Businessman’s Association, as a member of the religious right. Stein, while a Republican, was vulnerable to attack as being not sufficiently conservative, due to the fact that his wife is a pro-choice Democrat who hasn’t taken his last name. Munger told me that Palin also supported a slate of religious right candidates for the Mat-Su Borough School Board, including Cheryl Turner, who he described as a creationist. But he said that the creationists didn’t win a majority on the school board, and as a result made no attempt to push that agenda. Munger said that he called in a question to Sarah Palin when she appeared on the Don Fagan program around October of 2006, and he asked her if her views on creationism had moderated since the Dover case. Her response indicated that her views had not changed, and that she had no idea what the Dover case was. Munger offered to explain it to her in detail if she contacted him, but she never did. He said that she didn’t say anything to explicitly endorse creationism, instead resorting to the same tactics suggested by the Discovery Institute of protecting academic freedom, allowing “both” views to be taught, teaching the controversy, etc. My impression is that Palin is likely a young-earth creationist, but not one who knows much about it or has it high on her agenda for political change. She’s probably smart enough to see that such could be a liability for her future political career and so will avoid questions about it or answer in generalities. Palin and Bill Gothard Sarah Posner has a new article at Salon.com titled “Sarah Palin, faith-based mayor." This article points out that the Wasilla City Council passed a resolution in April 2000 at her direction declaring Wasilla to be a “City of Character” and a supporter of the International Association of Character Cities, run by Steven Menzel. This organization promotes a secularized version of the principles from Bill Gothard’s Institute in Basic Life Principles, which is a sort of Christianity-lite cult that promotes the prosperity gospel and a whole lot of craziness like this: Wives who work outside the home are to be compared to harlots — Bill Gothard ...

Radley Balko at The Agitator replies to Jennifer Rubin at Commentary about why the Washington Post’s coverage of Cindy McCain’s addiction to painkillers and commission of crimes to support it is newsworthy. Balko gives two reasons: John and Cindy McCain have touted her addiction an example in overcoming adversity. That presents quite the contrast to McCain’s legislative history as an ardent drug warrior. People accused of crimes similar to those Cindy McCain was accused of committing usually go to prison (even when they’re innocent). Her crimes haven’t been well-reported in the media. And they show how John McCain (who, by the way, is running for president) believes in one set of rules for the friends and family of powerful politicians, and a different set of rules for everyone else. While Cindy McCain’s addiction and theft from her children’s charity to support that addiction were lightly covered at the time, there has yet to be much coverage of it at all during this campaign. And one aspect of the case that’s been covered even less is John and Cindy McCain’s attempt to railroad Tom Gosinski, the guy who blew the whistle on Cindy McCain’s theft from her children’s charity. The Post story is one of the first to get his version of what happened. And Balko concludes: ...

A McCain-Palin ad cites factcheck.org to claim that Obama has made false attacks on Palin–but the attacks haven’t come from Obama. McCain and Palin are appealing to factcheck.org’s accurate content in order to lie about Obama, and factcheck.org calls them on their dishonesty.

Sarah Palin said in an interview with Charlie Gibson that Alaska “produces nearly 20 percent of the U.S. domestic supply of energy." Not true. Alaska produces 14% of the oil from U.S. wells (not 14% of oil consumed), produces 3.5% of domestically produced U.S. energy, about 2.4% of U.S. energy consumed. McCain repeated the same falsehood to Gibson, saying “[Palin’s] been governor of our largest state, in charge of 20 percent of America’s energy supply." (Via factcheck.org.) If they keep repeating this claim, they are liars. There’s already good evidence that they are bullshitters.

USA Today reports that the Biden family has given $3,690 to charity over the last decade, an average of $369 per year, on “modest” income that has ranged from a low of $210,797 in 1999 to a high of over $320,000 in 2005. Last year, they gave $995 on income of $319,853 (0.3%), their highest giving rate of the decade. A 2005 study of households with incomes from $200,000 to $500,000 per year shows average charitable giving of $40,746 per year. John McCain has given $202,000 to charity in the last two years, about 25% of his income–but of course he is married to a very wealthy woman who earned more than $6 million in 2006. Last year he gave $105,467 (half of what he and his wife donated as a couple) on income of $405,409, which would be more impressive if it weren’t just an even division of their reported expenses reported without the comparison figure of her income. The Obamas gave $240,000 to charity last year on income of more than $4.2 million (5.7%). In 2000, they gave $2,350 to charity on income of $240,726 (1%). Palin’s tax data hasn’t yet been released. There may be some tax problems lurking in her records. John McCain’s personal charitable giving appears quite generous, but it’s somewhat less so considering his wife’s much higher separate income and my suspicion that she effectively subsidized his charitable giving as the chief breadwinner and provider. The Obamas were very generous last year, but not so much in 2000. The Bidens, not at all generous. This seems to lend further support to the thesis that conservatives are more generous with their own money than liberals. My feeling is that most professionals earning six-figure incomes should be able to give 5-10% of their gross income to charitable causes without much trouble. The average figures for those earning $200,000 to $500,000 strike me as just about right. (UPDATE, 17 May 2021): The Bidens’ 2020 tax returns show much more generous charitable contributions: The Bidens donated $30,704 to 10 charities last year. The largest gift was $10,000 to the Beau Biden Foundation, a nonprofit focused on child abuse that is named after the president’s deceased son.But that’s on $607,336 in income, so it’s just over 5%. Kamala Harris and Doug Emhoff gave just under 1.6%: ...

Yahoo reports: Alaska Gov. Sarah Palin has charged her state a daily allowance, normally used for official travel, for more than 300 nights spent at her home, The Washington Post reported Tuesday. An analysis of travel statements filed by the governor, now John McCain’s Republican running mate, shows she claimed the per diem allowance on 312 occasions when she was home in Wasilla and that she billed taxpayers $43,490 for travel by her husband and children. Per diem payments are meant for meals and incidental expenses while traveling on state business. State officials told The Post her claims — nearly $17,000 over 19 months — were permitted because her “duty station” is Juneau, the capital, and she was in Wasilla 600 miles away. ...

The Daily Show has outdone itself with this one. UPDATE (September 8, 2008): The part about McCain crashing five planes isn’t true.

Campbell Brown at CNN shows what a reporter is supposed to do when questioning the representative of a political candidate–insist that they actually answer the questions asked in a meaningful way. After this interview with McCain representative Tucker Bounds, McCain cancelled an interview with CNN in response to what he viewed as unreasonable behavior. (Via Juan Cole.) ...