Larry Kudlow put together some debate tips for John McCain.
After reading the recommendations, I noticed a significant contradiction.
Mr. Kudlow states:
"...McCain needs to stress that tax hikes of any kind would be a
total disaster during this economic emergency, and that letting folks
keep more of what they earn is a recovery prescription. He needs to
emphasize the need for across-the-board tax cuts for individuals and
businesses. Lower marginal tax rates will reward work, investment, and
risk-taking. They also will put money in people’s pockets as they keep
more of what they earn."
Sounds pretty good....People would have to forget about the $700 billion bailout that just passed....but taking that statement at face value, so far so good.
But then the contradiction:
"McCain also should state that the Federal Reserve needs to keep
expanding the money supply."
Ron Paul has repeatedly pointed out that inflation is a tax! In fact, Fed Chairman Bernanke even agreed with Ron Paul in this video, saying "Congressman, I couldn't agree with you more that inflation is a tax."
So Mr. Kudlow is calling for lower taxes *and* higher taxes at the same time.
Oct 07 2008, 01:40 AM