Huckabee's 5 point economic package

[ScreamingEagle]

January 15, 2008

With recession-fearing Michigan voters entering the voting booths today for the Republican primary there, Gov. Mike Huckabee announced a five-point stimulus package that he says "would guide my economic policymaking on behalf of all Americans."

Much of the package, such as, "I will cut burdensome red tape," is hardly policy heavy. In fact the "five points" are: Family, Fed, Fight, Fuel, Fair.

However there are some specifics:

* Make all higher-education tuition tax deductible.

* Oversee a Federal Reserve that adopts a "pro-growth, low-inflation policy."

* Increase defense spending to 6 percent of GDP. [Defense spending is currently about 4 percent of GDP. It has not been at 6 percent since 1972.]

* Recruit and train "thousands" of troops and "bring our National Guard and Reserves back home."

* Build a fence along the US-Mexico border "with American labor and American materials."

* End U.S. dependency on Middle Eastern oil by January, 2019.

* Preserve and expand the Bush tax cuts.

The last one about the tax cuts is a short-term solution for Huckabee, who wants the country to do away with the Federal income tax and adopt the FairTax, a national sales tax of 23 percent or 30 percent, depending on how you calculate it.

"However, I recognize that passage of the FairTax will not happen overnight," Huckabee said in announcing the package. "In the meantime, I will eliminate the Death Tax, and seek to reduce counterproductively high personal and corporate marginal tax rates."


http://weblogs.baltimoresun.com/news/politics/blog/2008/01/mike_huckabees_money_matters.html

 

[Paulie]

So in other words, he's got NOTHING.

I don't see anything in there about cutting spending, in fact he says RAISE spending on defense. Like we're not already spending way too much already.

I'm sorry, if you're not talking about cutting spending and reducing government, ALONG with cutting taxes, you're a fraud Republican.

 

[Mr.Conley]

What I really like is how only two of these "points" actually addresses "economics" in anything but the most tangential manner.

 

[ScreamingEagle]

Gotta agree...he's pretty light and fluffy...but then McCain typically acts like a Democrat and Romney is too at least in Michigan...

 

[Dr Grump]

Gotta agree...he's pretty light and fluffy...but then McCain typically acts like a Democrat and Romney is too at least in Michigan...

Huckabee's biggest problem - and the reason he won't get the presidency - is he's a right wing religious whackjob. America has already had that for the past 8 years and Bush's approval rating is in the gutter. Why would people vote for Bush lite?

 

[Toro]

* Make all higher-education tuition tax deductible.

Not a bad idea.

* Oversee a Federal Reserve that adopts a "pro-growth, low-inflation policy."

The President already does.

* Increase defense spending to 6 percent of GDP. [Defense spending is currently about 4 percent of GDP. It has not been at 6 percent since 1972.

This is silly. Defense spending should be based on needs, not some artificial benchmark from the past.

One of the reasons why the 1990s was so prosperous was because the country spent less on defense. From an economic standpoint, defense spending is wasteful in aggregate (though it will help local economies) unless aggregate demand is very weak.

* Recruit and train "thousands" of troops and "bring our National Guard and Reserves back home."

This has what to do with economics? This and the previous points are designed to appeal to defense hawks, especially given the SC primaries coming up.

* Build a fence along the US-Mexico border "with American labor and American materials."

lol.

Absolutely hilarious. That's the funniest thing I've seen in a while - turning the immigration issue into an economic one.

First the Chuck Norris, then this. Huck has a good sense of humour.

* End U.S. dependency on Middle Eastern oil by January, 2019.

Good idea. Specifics?

* Preserve and expand the Bush tax cuts.

So how's Huck going to pay for all that defense and anti-immigration spending. By Huck's own admission, point number three will add another $300 billion to the budget each and every year. Who is going to pay for it?

The last one about the tax cuts is a short-term solution for Huckabee, who wants the country to do away with the Federal income tax and adopt the FairTax, a national sales tax of 23 percent or 30 percent, depending on how you calculate it.

Fascinating proposal but has zero chance of happening.

"However, I recognize that passage of the FairTax will not happen overnight," Huckabee said in announcing the package. "In the meantime, I will eliminate the Death Tax, and seek to reduce counterproductively high personal and corporate marginal tax rates."

The Paris Hilton Tax, aka the estate tax, aka the "death" tax is not paid by 98% of the population.

 

[Paulie]

Gotta agree...he's pretty light and fluffy...but then McCain typically acts like a Democrat and Romney is too at least in Michigan...

Romney's whatever he needs to be in whatever state he's campaigning in.

But then, aren't just about ALL politicians?

 

[Paulie]

Does this guy not remind anyone of none other than George W. Bush?

 

[Lookout]

Huckabee's biggest problem - and the reason he won't get the presidency - is he's a right wing religious whackjob. America has already had that for the past 8 years and Bush's approval rating is in the gutter. Why would people vote for Bush lite?

NOOOO. Not a right wing religious wackjob. If you are refering to the current administration as that, you could not be further from the truth. Huckabee is genuine and he doesn't come from skull and bones or visit bohenien grove and have gay sex while worshiping a satanic idol like our federal reserve members and the president and his daddy and his grand daddy...Here is the link...enjoy!!! If huckabee doesn't get in it is because he is NOT a GAY SATAN WORSHIPER!

http://video.google.com/videoplay?docid=-82095917705734983

 

[ronpaul2008]

If he will abolish the income tax and build a fence on the border then that makes up for the fact he is status quo on other things like keeping the federal reserve around. The national sales tax should be 3% at most. That would be plenty of money for the federal government to waste. I don't see why leftists are against ending federal taxes. Just because there are low federal taxes does not mean they can't live in a city/county/state that taxes high and provides services. By keeping the tax money closer to home communities can spend it on their priorities, rather then leaving it up to the federal government to spend the money against their wishes.

 

[Avatar4321]

Huckabee's biggest problem - and the reason he won't get the presidency - is he's a right wing religious whackjob. America has already had that for the past 8 years and Bush's approval rating is in the gutter. Why would people vote for Bush lite?

I think you mischaracterize Huckabee. The reason America would reject him isnt because he is Bush lite, but because he has the same exact problems Bush has about 100 times greater. If anything, Bush is Huckabee lite.

 

[Toro]

If he will abolish the income tax and build a fence on the border then that makes up for the fact he is status quo on other things like keeping the federal reserve around. The national sales tax should be 3% at most. That would be plenty of money for the federal government to waste. I don't see why leftists are against ending federal taxes. Just because there are low federal taxes does not mean they can't live in a city/county/state that taxes high and provides services. By keeping the tax money closer to home communities can spend it on their priorities, rather then leaving it up to the federal government to spend the money against their wishes.

Considering that government spending is 15% of the total economy - and defense spending 4% - you are going to have to eliminate pretty much the entire US government AND cut back the military drastically with a 3% sales tax.