Thursday, May 29, 2008

Obama vs McCain On Economics

Thorley Winston at The Volokh Conspiracy has this to say about Obama vs McCain on economic policy:

On Health Care – Obama favors creating a new federal entitlement and a new federal bureaucracy to force every private health plan to conform to the “genero[sity]” of the new entitlement. McCain opposes both mandates and entitlements and favors letting consumers buy their own health insurance policies across State lines and restoring market competition to the health insurance market.

On entitlements – Obama favors raising Social Security taxes (again), thinks that Medicare Part D wasn’t generous enough, and thinks that comparatively poorer young people were put on this Earth to pay for the benefits promised to the comparatively wealthier retirees who voted them into existence in the first place. McCain opposes expanding existing entitlements, wants to means-test Medicare, and has consistently supported letting younger workers opt at least partially out of Social Security.

On farm subsidies – Obama favors farm subsidies including ethanol. McCain has consistently opposed farm subsidies even to the point of going into Iowa to denouncer ethanol subsidies.

On free trade – Obama favors backing out of our existing trade treaties unless they include more trade restrictions to benefit various special interest groups that support his campaign (read: unions). McCain has been one of the most ardent supporters of free trade to the point of talking to voters among whom it might be unpopular to convince them that they should support it.

On taxes, spending and earmarks – Obama favors not only repealing the Bush tax cuts but higher levels of taxation on top of that, favors even higher levels of spending, and supports earmarks (ask his wife’s employer). McCain has never voted for a tax increase and generally favors lower taxes, has bucked his own party on spending (particularly for popular programs) and doesn’t do earmarks.


You know, I could get to like McCain.

Cross Posted at Classical Values

1 comment:

Snake Oil Baron said...

While occasionally I hear something out of the McCain camp that makes me cringe (like "All who oppose immigration law enforcement are racists!" paraphrased of course), his general thought process on most issues from the economy to foreign policy are relatively close to acceptable. The bumper sticker that is in vogue describing McCain as the least objectionable Democratic candidate is highly accurate.