Hillary: It's Me And Ordinary Folks Against "Elite" On Gas Tax Holiday
Hillary Clinton has just started doing an Indiana town-hall meeting being broadcast on ABC, and George Stephanopoulos asked her a direct question:
Could she name a single economist who agrees with her support for the gas tax holiday?
Hillary sidestepped the question, and tried to use the complete dearth of expert support for the idea to her advantage, pointing to it as proof that she's on the side of ordinary folks against "elite opinion" -- a phrase she used twice.
"I think we've been for the last seven years seeing a tremendous amount of government power and elite opinion behind policies that haven't worked well for hard working Americans," she said.
A bit later she added: "It's really odd to me that arguing to give relief to a vast majority of Americans creates this incredible pushback...Elite opinion is always on the side of doing things that don't benefit" the vast majority of the American people.
An ordinary voter begged to differ, however. Stephanopoulos turned the mike over to a woman who said she supported Obama and said she makes less than $25,000 a year.
"I do feel pandered to when you talk about suspending the gas tax," the woman said, adding: "Call me crazy but I actually listen to economists because I think they know what they've studied."
We'll be bringing you more from Hillary's town hall right here -- and at 10 AM, Obama is being interviewed by Tim Russert on Meet the Press. Stay tuned.















Talk about dead horses!
Hillary - Congress already turned you down.
The whole stupid idea is dead.
boy she really does count on voters being dumb, doesn't she?
May 4, 2008 9:18 AM | Reply | Permalink
"Elite opinion is always on the side of doing things that don't benefit..."
Hillary just called Paul Krugman an elitist!
May 4, 2008 2:41 PM | Reply | Permalink
More than that -- Hilary just called roughly half of the country "elitists". A CBS News / NYT poll found that 49% of respondents think the gas tax is a bad idea. (Compared to 45% who think it's a good idea.)
May 4, 2008 11:09 PM | Reply | Permalink
Why does Obama Fever make people soooooo dumb??? I would much rather the oil companies paid more tax and average people pay less tax! Why is that so hard to understand? That is what she is saying. SHIFT THE TAX BURDEN FROM THE POOR CONSUMER WHO IS STRUGGLING TO THE RICH CORPORATION THAT IS SWIMMING IN CASH !!! GET IT??
May 4, 2008 3:56 PM | Reply | Permalink
There's very, very little chance that tax would even happen, guy. Buy the Clinton line all you want. It's a load of horseshit.
I suggest you read this:
http://www.newsweek.com/id/135323
And at the end of the day, regardless of who pays the tax, this stupid plan increases American dependence of foreign oil. Hello?
May 4, 2008 4:10 PM | Reply | Permalink
There you have it: The Obama crowd DOESN'T want working people to have a penny of relief when it comes to gas prices. Why? Because they might drive more, and Obama's elitist text-messaging crowd wants to solve the energy crisis on the backs of working Americans.
You limousine liberals make me sick. It doesn't matter to you how much gasoline costs - you'll still have your chauffeur drive you everywhere you want at about 10 miles a gallon. But if working people want to take a summer vacation with their family - that you can't allow. When Obama loses in November, you'll know why.
May 4, 2008 9:30 PM | Reply | Permalink
I don't know why you're acting like an elite yourself, sitting here typing comments, when you should be picking me up in the limo right about now. You're already 5 minutes late. I swear if you don't get to my house soon to take me to the champagne tasting event, I'll fire you and hire someone who doesn't fancy literacy like you do, someone who will work for less. Get your ass moving, Mr. Smarty Pants!
May 5, 2008 11:47 AM | Reply | Permalink
If you'd ever taken a class in economics, you'd know that the tax burden from the increase will just be shifted back to the consumers. If you tax the consumer, they pay it. If you tax the corporation, they increase prices and the consumer still pays it.
May 4, 2008 4:23 PM | Reply | Permalink
Almost. Here's how the economic theory goes:
If the government subsidizes consumers, demand rises, and some of the subsidy given to consumers is passed onto the producers as producers raise their price. If the government subsidizes producers, supply rises, and some of the subsidy given to producers is passed onto consumers as the producers lower their prices. It doesn't matter who the government subsidizes -- the producers or the consumers -- the economic incidence remains the same. Whichever has the greater price sensitivity (elasticity) -- the producer or the consumer -- gains the most from a subsidy.
The case is similar with taxes. If the government taxes consumers, demand falls, and some of the tax borne on consumers is passed onto the producers as producers decrease their prices. If the government taxes producers, supply falls, and some of the tax borne on producers is passed onto consumers as the producers raise their prices. It doesn't matter who the government taxes -- the producers or the consumers -- the economic incidence remains the same. Whichever has the greater price sensitivity (elasticity) -- the producer or the consumer -- bears the greatest burden from the tax.
May 4, 2008 7:12 PM | Reply | Permalink
Wait, Just the basic common sense argument. It is May 4. Has Senator Clinton being back to the Congress with her plan? Is her plan even on paper? If so, does anyone actually think it would happen before Memorial Day, May 25. That is in 21 days. The Speaker of the House and many members of Congress are against her.
I pray and hope IN and NC are smarter than that. Remember how long it took them to get us our rebate checks, months. And that is with the vote being approved at all level and even Bush saying OK.
This will not happen in 21 days and not even this summer.
May 4, 2008 5:03 PM | Reply | Permalink
To her, political reality *IS* reality.
Senator Clinton has a great love and appreciation for *ALL* the polls, and wants to make sure that each one of them are told whatever they need to be told in order to be happy.
May 4, 2008 7:44 PM | Reply | Permalink
And please tell me why she shouldn't count on voters, taken in the aggregate, being dumb? Have we already forgotten 2004?
May 5, 2008 1:10 AM | Reply | Permalink
For the most part, American voters are dumb
May 5, 2008 8:12 AM | Reply | Permalink
Yes!
May 6, 2008 12:22 PM | Reply | Permalink
Hillary sidestepped the question, and moved cast the complete dearth of expert support for the idea to her as an advantage, pointing to it as more proof that she's on the side of ordinary folks against "elite opinion" -- a phrase she used twice.
What a load of BS ? LOL.
May 4, 2008 9:20 AM | Reply | Permalink
(i>"I do feel pandered to when you talk about suspending the gas tax," the woman said, adding: Call me crazy but I actually listen to economists because I think they know what they've studied."
Ding. You Go, "Girl".
This is fun.
May 4, 2008 9:23 AM | Reply | Permalink
LOL!!!
Another stupid American!
LOLOLOLOLOLOLOLOLOL!!!!!!!!!!!!!!!!!!!!!!!!
May 4, 2008 9:27 AM | Reply | Permalink
"I do feel pandered to when you talk about suspending the gas tax," the woman said, adding: Call me crazy but I actually listen to economists because I think they know what they've studied."
One word: takedown.
Also: hasn't the Bush administration caused a whole hell of a lot of trouble precisely because they DIDN'T listen to experts? Like, real experts?
It seems everyone at that Town Hall meeting was taken for a trip to the No Fact Zone.
May 4, 2008 10:18 AM | Reply | Permalink
Frankly, I'm pretty surprised they have Obama supporters there asking questions. Team Clinton probably won't be too happy about that. But it sounds from Ben Smith like she's treating Steph like a rag doll, so I'm sure that will go over well with all of her non-elitist supporters.
Do you know how horrific it is to have a Dem bash another Dem (the likely nominee) playing the "elitist" card? Which, of course, is code for "educated." Because God knows the last thing this country needs is a bunch of people aspiring to higher education.
I adore Hillary. Simply adore her.
May 4, 2008 9:30 AM | Reply | Permalink
It's unbelievable.
She's trotted out every single moss-covered long standing cliched smear on the Democratic Party ever used. Every one.
She is unbelievable. Yeah, I just adore her too. She's quite something.
May 4, 2008 9:31 AM | Reply | Permalink
Clinton has shown in this campaign that she is a fighter and will stand up for the things she cares about. However, as a senator she has been a total marshmallow, voting for the war and a flag burning amendment and triangulating her way to Republican lite. Isn't it clear to everyone by now that deep down the only thing she cares about is herself?
May 4, 2008 1:23 PM | Reply | Permalink
She never voted for the Flag Desecration Amendment. She has supported bills that ban flag burning when the event is used to incite violence, but she never, never has favored the Constitutional Amendment.
I voted for Barack Obama, but I feel we need to be truthful.
May 4, 2008 7:03 PM | Reply | Permalink
She's in the tank for McCain. There's really no doubt about it.
May 4, 2008 2:07 PM | Reply | Permalink
I agree.
She's become almost Romney-esque in her clownish adorability.
May 4, 2008 2:29 PM | Reply | Permalink
"'I think we've been for the last seven years seeing a tremendous amount of government power and elite opinion behind policies that haven't worked well for hard working Americans,' she said."
Actually, I think the problem is that for the past 7 years this administration has been too willing to IGNORE expert opinion - in the areas of foreign policy, global warming, etc. This administration's well-documented war on science is one of the most disturbing aspects of the last 7 years.
May 4, 2008 9:31 AM | Reply | Permalink
Exactly.
She even double talks like a Republican. In fact she's got that down pat.
It really bugs me.
May 4, 2008 9:35 AM | Reply | Permalink
I totally agree. Too clever, by half.
Georgie Boy, elitist ??? WTF ???
May 4, 2008 9:35 AM | Reply | Permalink
Heh. So even the rubes have figured out that the $50 "tax break" Hillary's promising won't do them any good?
Meanwhile, I wonder how many superdelegates she's turning off every day she continues to hammer on this "gas tax holiday" thing. People who, if she does what she's said she will do, will be forced to vote against it and will then see their Republican opponents use the vote in attack ads this fall.
Real smart.
May 4, 2008 9:36 AM | Reply | Permalink
It's a shame. With the sorry lot that they had, Hillary could have easily won the Republican nomination if only she had changed parties last year!
May 4, 2008 9:42 AM | Reply | Permalink
Fookin comment of the day!!!!
She's already told us how many times now? that if we just ran our primary like the fascists do, she'd already be the nominee.
May 4, 2008 9:44 AM | Reply | Permalink
.....does this woman even count? I mean she lives in INDIANA fer chrissakes. Not New York, not California, not even Ohio but INDY FREAKING ANA. Why is she even allowed to address Hillary? Was Hillary part of the elite in 2002 when she gave Bush permission to invade Iraq? Did she help deregulate the telecoms in 1996, which really really has benefitted the greater public at large (as our news industry has devolved into a rotted carcass). She has that as experience that we can count?
May 4, 2008 9:43 AM | Reply | Permalink
Is expert opinion suddenly mean so little, will she now delete all the "experts" she touts to boost her healthcare plan? Doubt it...
HRC = Bush 44. Opinion - like votes - only counts when it's on your side.
May 4, 2008 9:52 AM | Reply | Permalink
Some elitist experts are more equal than others is the idea that transpires from the Cliton camp.
They sound more and more orwellian. They've been stuffing BS in a bubble that's bursting at the seams. There are signs it is overflowing.
May 4, 2008 11:51 AM | Reply | Permalink
You'd think that some of those experts she cited for approving of her healthcare plan back then would be a wee bit upset that Hillary is calling them elitists today!
Paul Krugman, for one...
May 4, 2008 2:46 PM | Reply | Permalink
Yep, she'd continue in the fine tradition of Dubya--ignore the people who have the knowledge and the answers, and the more people try to straighten you out, the more you dig your heels in.
May 4, 2008 9:53 AM | Reply | Permalink
Sometimes I'm surprised that Hillary's head doesn't just explode. Keeping so many lies up in the air has to take a tremendous effort!
What she said there is really rich. GW Bush's style of governing has been "we don't need to listen to experts because we know better". Sounds like Hillary would govern the exact same way.
May 4, 2008 9:57 AM | Reply | Permalink
I think Hillary has now dragged out every last canard Republicans love to use. Anti-intellectualism!!? Those over-educated economists who don't care about everyday folks?
McCain won't have to pay for ads against Obama he will just show clips of Hillary calling him elite, effeminate, and on the side of the educated. Nothing like rushing to the bottom and appealing to the lowest denominator. Don't remind them that you strove mightily to get into elite East Coast Ivy League schools. Go ahead and encourage folks to distain education.
No wonder people are drawn to Obama's message of "lifting folks up."
May 4, 2008 9:59 AM | Reply | Permalink
More Republican talking points against Democrats from Hillary! She is making the rope that will be her noose.
May 4, 2008 10:02 AM | Reply | Permalink
Didn't you know ? Controlling "noose" cycle is a big thingy with the Clinton camp.
May 4, 2008 11:40 AM | Reply | Permalink
Last time I checked, cutting infrastructure and jobs in order to achieve a short term political gain is not a working class ethic... no self-respecting working class man or woman would blow their rent check on drinks for their buddies.
God bless the woman who called a spade a spade. It is a pander, a short term tax cut that puts people out of work. I shudder to think about my wife filling her tank, saving 50 cents, while a highway worker gets a pink slip. The concepts just don't reconcile with my moral decency... but then again, I'm an elitist.
May 4, 2008 10:11 AM | Reply | Permalink
Where I live both MTP where Obama was being interviewed and TW are telecast at the same time. Needless to say, I watched the Obama interview and missed the Clinton Campaign event telecast for free to the whole country.
I did find the quote absolutely tasty:
Amen! Doesn't Hillary realize she's running for the nomination to the party that has been fighting the republicans on this sort of blatant anti-intellectualism? Are there ANY republican talking points, methods, procedures, etc., that Hillary won't deploy to undermine the clear Democratic frontrunner?
May 4, 2008 10:12 AM | Reply | Permalink
Onondaga County -- up here in Upstate NY -- canceled its gas tax a few years ago. The price did not go down, the county finances suffreed and it was repealed. Senator Clinton should look to the state she is supposed to represent. But then -- as we have learned -- was NY state anyting more than a stepping stone for the senator.
May 4, 2008 10:12 AM | Reply | Permalink
Hillary's idea of "Elite" are those who can think for themselves, much like the GOP's talking points. Hillary has said that she will campaign for Obama for president after she loses the nomination, but will she be wanted? Or will she become the dick cheney of the dem party, our own little bull dog?
May 4, 2008 10:16 AM | Reply | Permalink
Amazing! 23 posts and not a single Clinton supporter coming to bat for her. How long can it last?
May 4, 2008 11:12 AM | Reply | Permalink
May 4, 2008 11:16 AM | Reply | Permalink
Dare I ask what Clinton's response to the woman was? Is she another member of the factually based "elite"?
May 4, 2008 11:25 AM | Reply | Permalink
Economist hae great 20/20 hindsight. The great economists and legislators are the ones that allow and cause this mess we're in. Now all of a sudden we want they're expert opinion as validation.
Nuts to that. I say common sense of shifting the burden to the oil companies not only makes sense but, if you oppose it you are rightly labeled an oil company shill.
Clinton is right.
May 4, 2008 11:30 AM | Reply | Permalink
Can you find at least *ONE* expert who agrees with the policy?
May 4, 2008 11:41 AM | Reply | Permalink
That agrees with what? That it will put more money in the pockets of consumers instead of oil companies? Find me an expert that disagrees with that. Everything they says regarding gas prices is based on theory.
Theory is what got us into the current economic mess so if you want to rely on their theories I'd suggest you just come out as a Republican.
Common sense is what will get us out of this mess. Tax the oil companies, not the people.
May 4, 2008 11:47 AM | Reply | Permalink
As in, thinks the gas tax holiday is an effective policy and will actually help consumers in any significant way and isn't merely a transfer of billions of dollars of government revenue to the oil companies. The tax is on the oil companies, here - they have the choice of whether to change their prices or not. You don't think they'd just rather...take the extra money for themselves? Oh, that's right - the oil companies hate money.
May 4, 2008 11:57 AM | Reply | Permalink
And please don't pull this folksy "who needs expert opinions anyway?" bullshit. That's the kind of crap that's been going on for 8 years that we're campaigning against.
May 4, 2008 11:59 AM | Reply | Permalink
Idiot.
May 4, 2008 12:41 PM | Reply | Permalink
uh, I was referring to Fogu2. Sorry about the confusion.
May 4, 2008 12:58 PM | Reply | Permalink
Take a memo!
"Theories" are things that only elitist commie-liberals should use! Salt of the Earth(TM) Hillary Clinton "$100 million" knows that we U.S. Americans go off our gut!
May 4, 2008 12:00 PM | Reply | Permalink
No, common sense is what got us into this mess. George W. Bush relies more on his gut and on "common sense" than any president in recent history. And he has been a miserable failure. And Hillary would be a miserable failure too. Just like she was a miserable failure when she tried to push through Hillarycare, and just like she was a miserable failure when she voted to invade Iraq, and just like she's a miserable failure in managing her own campaign.
Common sense and 4 bucks gets you a cup of coffee at Starbucks. What we need is expert opinions, and a president who's willing to listen.
May 4, 2008 2:02 PM | Reply | Permalink
By "hitting the oil companies" with Hillary's tax holiday, do you mean passing that windfall profit tax to pay for the loss in jobs and money caused by the tax holiday? As in passing a bill now? As in George Bush signing a bill that hits his oil buddies to make up for the lost money and jobs to fix road that would be caused by this tax holiday now?
Sure. Now that's a plan mired in reality.
May 4, 2008 3:47 PM | Reply | Permalink
I knew it was just a matter of time before someone shameless enough to vouch for ignorance would chime in -- we can always depend upon you, fogu2!
May 4, 2008 11:45 AM | Reply | Permalink
wow, now I'm one of the "Elites" ???
just a matter of time before I'm one of the "Beautiful People" too
talk about being willing to say anything ...
May 4, 2008 11:32 AM | Reply | Permalink
Of course. "Elite" = "does not agree with HRC." That is certainly a growing population.
May 4, 2008 3:51 PM | Reply | Permalink
So, according to Sen. Clinton, expertise in a given field is now elitist, meaning of no practical value. That's a real good message to send to the children. Maybe it's this attitude that's making the US less competitive internationally. According to this kind of thinking JFK and FDR where both out-of-touch elitists. Intellectualism is supposed to be a good thing. Especially when managing large bureaucracy. This is one of the things I hate most about American politics, the disdain for intelligence.
May 4, 2008 11:35 AM | Reply | Permalink
Well, at least she did not say the science was bad. She just ignored the science.
May 4, 2008 11:41 AM | Reply | Permalink
Don't trust anyone over 80 IQ!
May 4, 2008 11:40 AM | Reply | Permalink
You are confused the "I" means Ignorance and the "Q" means quota; you have gotten the rank ordering wrong as is what is up is not and what is down is not. Got that?
May 4, 2008 11:45 AM | Reply | Permalink
Uh... no. Maybe I'm too elite to understand WTF you mean with your ignorance quota being over under sideways down comment.
May 4, 2008 3:57 PM | Reply | Permalink
There is no one more "elite" in this country than the Clintons -- they are trying to establish a dynasty. While the Bushes established their's on oil, the Clintons are basing their's on the financial sector.
Cleverly, Hillary blames the prices on the "mean oil companies", but the fact is that these companies now control only about 20% of the world's reserves, while the rest is run by state-owned national companies in China, Russian, Iran, Saudi Arabia, etc. And they are beginning to not even put their oil on the open market -- cutting deals directly with each other.
Ironically much of what is wrong with the dollar now is because of the financial policies of the (Bill) Clinton era. Of course, Glass-Stegall being repealed helped and actually encouraged the credit and mortgage bubbles that are now collapsing.
During the Clinton years, Bill and Hillary got particularly close to the financial sector -- not manufacturing. And, it was during Bill's administration that finance became the #1 sector of the economy, surpassing manufacturing.
There are theories that when finance becomes so central to the economy of a nation, it spells a signal of the great nation's collapse. It happened to Spain, the Netherlands, then Britain, and now... probably us. Kevin Phillip's writes convincingly with more detail about this in his books.
The Democratic Party of today is wealthy precisely because it now occupies the place with Wall Street that the GOP used to. Obama represents the last gasp of popularism -- and he survived because his campaign, alone, truly understood the Internet's unique ability to serve as a communication and fund raising medium.
For people thinking that the Democratic Party is of their great-grandfather's FDR era, think again.
This Party is now beholden to the financial sector. Expect to stand in line behind the pinstripes to get anything. Did anyone see Chelsea Clinton at the elite Kentucky Day Derby gala? What about her job at an elite hedge fund? How about the cozy relationship that the Clintons have with the Chinese? The US is already being put into a 3rd wheel position as the Russians and Chinese are building an Asian coalition, the likes not seen since the 50's (and based on oil production). How close do we want the POTUS to be with the Chinese?
Obama is unique because he is less beholden to the Wall Streeters than Hillary.
It would be extremely bad for the country if Hillary were elected for this reason. The dynasty aspect is also a hint at what happens during a great nation's collapse. In most respects, John McCain is actually better for the long-term well-being country in this sense than Hillary. Obama, of course, is our last chance to truly try something "new".
May 4, 2008 11:48 AM | Reply | Permalink
This is a great comment, and I LOVE the new avatar.
May 4, 2008 11:54 AM | Reply | Permalink
Re: Avatar: thanks! California Paige made it for me... all credit is hers!
May 4, 2008 4:47 PM | Reply | Permalink
Didn't you get the memo? Clear thinking is the new elitism!
May 4, 2008 12:11 PM | Reply | Permalink
Who would thunk that Obamites would side with oil companies. Truly mindboggling.
Next they will support trickle down/supply side economics as long as Obama supports it.
Obama's Lemmings.
May 4, 2008 11:51 AM | Reply | Permalink
well I guess we had to have at least one Hillary supporter in the thread.
Fogu2, that gas tax holiday will go STRAIGHT into the pockets of the oil companies. I will bet you $1000 that the price of gas will drop at most by a few pennies, not 18 cents, if this foolish idea is enacted. If ExxonMobil can charge $3.50 for a gallon of gas, they are going to charge $3.50 for a gallon of gas whether there is a gas tax or not.
This idea is worse than pandering; it is a giveaway to the oil companies disguised as throwing a few crumbs to the peasants.
May 4, 2008 12:45 PM | Reply | Permalink
Shove your strawman up your ass.
Clinton's plan is to tie the gas tax holiday to windfall profits tax, which will never pass Congress, or the current President for that matter. Not enough votes to override his veto, and so there you end up.
It's craven pandering. Duh.
So at the end of the day, it diverts much needed infrastructure funds (hello? remember the bridge collapse in Minnesota last year?) mostly into the pockets of gas retailers and not consumers.
Recommend that you get a clue before continuing to embarrass yourself with your know-nothing posts.
May 4, 2008 2:00 PM | Reply | Permalink
You've been brainwashed. The oil companies love the idea of the federal government lifting taxes on their product. Do you think companies *like* having taxes on their product? Do you think tobacco companies like having the government inflating the price of their stuff?
Seriously, maybe the government can lift taxes on the Kool-aid you've been drinking.
May 4, 2008 2:11 PM | Reply | Permalink
Yep, $100 million Hillary sure is going to fight for ordinary folk against these goldanged elitists.
May 4, 2008 11:53 AM | Reply | Permalink
Clinton is an embarassment to all of her supporters and the entire Democratic Party. The politics of division is her go-to option as she and her husband squandered their aspirations to presidential power. Pandering to the uninformed and or uneducated with a policy that will do consumers for finanicial harm than good, is the height of political exploitation. In desperation to overcomme Obama's lead, the Clintons have revealed their true color is more red than blue.
May 4, 2008 11:57 AM | Reply | Permalink
Clearthinker is right. The very cheap capital these days foster speculation. We're now going from one bubble collapse to another. That's not how healthy economies function. The Clintons have been apart of this trend. There was a time when investment profit was made from dividends. Now, it's all speculation. Obama is anti-lobbyist, and that's a very good first step. I hope he brings some responsibility to the financial markets.
May 4, 2008 12:03 PM | Reply | Permalink
When are people going to start talking about the obvious? Why isn't she dropping out. Barring Obama, as they say, "being caught in bed with a dead girl or a live boy" Billary is out. So why is she still running? Because she would prefer McCain in office than Obama. Keep things in the hands of the "good ol'boy network" and give her another shot at it in four years. Hillary puts her ambition before you, me, the Democratic Party and the entire country.
May 4, 2008 12:03 PM | Reply | Permalink
Why is she running? I'll tell you, by running on Bush's 2000 man of the people pseudo populist platform, after playing race, gender, "real democrats" and warmongering card, HRC is carving out the low info white, +50 y/o, 70/30 female/male segment of demographics, bigger and historically more reliable dems than the AA vote in order to try to blackmail her way into the nomination via SD's
The argument goes like this:
"If you select ME we'll lose 5% of votes (AA's, liberals and the young won't vote JMC anyway), but BHO is unelectable (we made it so), 25% of the voters will only vote for me."
Without a path to a pledge delegates lead or a solid electability argument on her own merits that's all she have left.
May 4, 2008 2:31 PM | Reply | Permalink
Hillary has jumped the Shark.
Her big claim to the nomination is that she has the experience to be ready on day one to get things done in Washington.
Her failure to get her very time urgent Gas Tax bill moved through both houses of congress will destroy her claim of being able to get things done in Washington.
Annie Oakley Clinton just shot herself in the foot.
May 4, 2008 12:04 PM | Reply | Permalink
Hillary should prove right now that she can get that gas tax holiday passed. It would prove whether she really has leadership potential.
Of course her fellow Dems would be mightily pissed that she put them in a bind of doing what is best for the country or pandering for votes. Way to go Clinton.
May 4, 2008 12:07 PM | Reply | Permalink
Seems to me the two candidates aren't too far apart on contributions from the energy sector:
Nor in the financial sector:
Clinton, Hillary $19,257,950
Obama, Barack $16,911,383
--ibid
There just isn't much difference. They're both centrists dems that will pacify the markets and the corporations before they do anything for the public.
I think an excess profits tax is always in order during times of war, and has been the norm historically.
War profiteering is absolutely repugnant, and we've put up with it for far too long.
I have to agree with Hillary on this, it's not JUST the oil companies that should be shamed into low profits at time of war, it should be all corporations making obscene profits from the blood of us "little" people.
May 4, 2008 12:10 PM | Reply | Permalink
Blaming things on the oil companies is a red herring. They only control 20% of the world's remaining reserves. Negotiations with the nations that have the national oil companies (Russia, china, Iran, Venezuela, etc.) are now tougher as much oil doesn't even get sold on the open market, but rather through a direct deal.
The US oil companies are currently buying back their own stock at a ferocious rate -- mostly to soft land their ventures from the horrible collapse when most oil will circulate among Asia. We are, by all measures, past peak oil and the remaining reserves will be used by the exporting nations first to bolster their own industrialization and then sold outside their countries.
You'll get your wish soon enough, workerbee. The US oil companies won't be getting any profits soon enough. You were concerned about the price of oil this past winter. I daresay that next winter, you will be looking back a year at the good old days.
May 4, 2008 12:37 PM | Reply | Permalink
I hear leeches work great for...well just about anything.
May 4, 2008 12:12 PM | Reply | Permalink
This is where Obama really needs to separate himself from the Republican/Clinton style politics.
He said it on meet the Press this morning, but he needs to make the insulting "Gas Tax Holiday" his prime emblem of the politics he wants to overturn. Personally, I think he should equate it with the Boston Tea Party.
He needs to say
Hey Indiana and North Carolina, this Gas Tax Holiday nonsense is a Republican con job. A holiday? John McCain and the Bush administration are trying to make it sound like we ought to have a big party to celebrate the fact that they're going to drop the price of gas from $3.75 a gallon to $3.65 a gallon, and work things around to put even more money in the pockets of big oil. Anybody remember what gas cost when they got into office?
And Senator Clinton is right in there with them--proposing a minor variation on the same thing.
It's the Iraq war vote all over again--a lie to the American people and Senator Clinton supporting the War while splitting hairs over what it meant. It was a vote against the interests of Democrats and ordinary Americans then, and this is a vote against our interests today.
The Republicans and Senator Clinton think we are all actually dumb enough to fall for this--that we'll knock back a couple of shots, slaughter some hawgs and get ready for a hoe-down to celebrate our GAS TAX HOLIDAY!
Well Indiana and North Carolina, I have a different idea. Let's tell the Republicans and Senator Clinton what we think of their politics. Instead of a gas tax holiday, let's turn this into a BOSTON TEA PARTY. Except instead of dumping tea in the harbor, let's dump Senator Clinton and the Republicans! Instead of a dinky gas tax holiday, let's give them a permanent holiday!
What do you say? Let's make this the Indiana Tea Party and dump Senator Clinton and the Republicans! Let's make this the North Carolina Tea Party and dump Senator Clinton and the Republicans! And in November, we'll make this an All-America Tea Party and dump George Bush!
Something like that, anyway. The point is that the "Gas Tax Holiday" is nothing to celebrate. Obama needs to take up the torch here.
May 4, 2008 12:17 PM | Reply | Permalink
In one of the debates, Hillary Clinton promised to put a windfall profits tax on the oil companies, and to spend that tax on developing alternative clean renewable energy.
Now Hillary is going to spend that same windfall tax revenue to pay for the loss of revenues in the highways and bridges funding.
So, far Hillary has now promised to spend the windfall profits on two different things. That is one hell of trick. Hillary should teach all those struggling working class people how to spend their wages at twice the rate that they get paid. That would solve all their problems.
Breaking:
New book deal for Senator Clinton
Title: HOW I LEARNED TO STOP THINKING AND LOVE FUZZY MATH.
By: HILLARY DOUBLE SPENDER CLINTON.
May 4, 2008 12:18 PM | Reply | Permalink
Um, so all those economists, who as a group probably have less money than the Clintons do, are ignorant elitists.
And pigs have wings and the moon is made of blue cheese.
Is there any way to get her to shut up and go away?
May 4, 2008 12:19 PM | Reply | Permalink
Call me crazy, but trying so hard to turn the gas tax issue into a game changer makes the Obama camp look like they are grasping at straws. It was the first big issue changer from the Obama camp after Obama reversed himself and disavowed Wright. When I hear "gas tax pandering" I think of Wright because that's what this issue was attempting to change the subject from.
May 4, 2008 12:25 PM | Reply | Permalink
OMG Scary Black Preacher! Gah! Wright does not affect you or me or anyone, really. He's not going to be a part of the Obama administration. His words will not affect your job, or your pocketbook, or the state of the nation.
The Gas Tax insult from Camp Hillary, however, will affect the entire country and beyond. Name one, just one, economic expert that thinks it's a good idea. Just one.
May 4, 2008 12:36 PM | Reply | Permalink
Isn't HRC grasping at straws by taking an idea from the republican frontruner? It isn't even an original idea. She's also trying to play the "elite" card. This coming from someone who has over $100 million in the bank. All of these political ploys are just politics you can Xerox.
May 4, 2008 1:14 PM | Reply | Permalink
Otto is a Racist Scumbag, Aryan Nation Troll(ANT)
May 4, 2008 1:52 PM | Reply | Permalink
Compare and contrast:
May 4, 2008 12:32 PM | Reply | Permalink
The price of gas at the pump is primarily due to increased demand by developing countries and a 40% loss in the value of the dollar. You can blame the GOP for the crash of our currency. Bushs War debt is the driving force. Clinton's reference to "elite" ought to be challenged. Let her define "elite." As she has used it so far, it has been directed at people who are educated, knowledgeable and informed. Perhaps these people should be weighing in and influencing public opinion. Obama seems to appeal to the educated and informed. Hillary's base seems to appeal to a disporportionate number of the under informed.
May 4, 2008 12:36 PM | Reply | Permalink
STFU, Hillary!
May 4, 2008 12:38 PM | Reply | Permalink
And sadly, CNN keeps the bashing on Senator Obama, saying that he is out of touch because he is against the gas holiday tax break...
This is unbelievable...
I wonder if CNN is giving money to the Clinton campaign...
May 4, 2008 12:44 PM | Reply | Permalink
Nope. In fact, it was the GOP (Nixon) who *stabilized* our currency by creating petrodollars back in 1974 after we went off the gold standard.
Later on, the Reagan Administration began a more free-wheeling style of business, but it didn't hit it's crescendo until the Clinton years with the repeal of Glass-Stegall.
Those manufacturing jobs that Hillary is trying so hard to sell now to the mid-west were lost when finance became the #1 sector of the US Economy -- again, during the Clinton years.
The Bush Dynasty has its cozy relationship with Saudi Arabia, the Clintons with China. As we past peak oil, the Middle East has less and less an overall economic influence... but China, with it's military to back it's foreign policy, continues to grow.
If you continue to think along the old party lines, you will be very disappointed. Neither Obama nor McCain has been "sleeping with the enemy" to the degree that the Clinton's have.
May 4, 2008 12:44 PM | Reply | Permalink
Hillary is so bloated with crap that it's oozing out of her pie hole.
May 4, 2008 12:55 PM | Reply | Permalink
"Elite opinion" -- is that another name for people who know what they're talking about?
"Those eggheads in the university might think it's a bad idea, but us poor folk know what's best!"
Sounds a lot like the George Bush campaign strategy.
May 4, 2008 1:00 PM | Reply | Permalink
What a joke this HRClinton has become.Since the economists are referred to has "elitist",how long before she joins the repukes rank & tag the scientists who are calling on modifications of our way of life the same "elitist" BS.
May 4, 2008 1:01 PM | Reply | Permalink
"Elite opinion" -- is that another name for people who know what they're talking about?
"Those eggheads in the university might think it's a bad idea, but those of us who haven't given it five minutes of thought know what's best."
Sounds a lot like the George Bush campaign strategy.
May 4, 2008 1:01 PM | Reply | Permalink
Next hillary will be joining the creationists and anti-global warming folks in their disdain for the intellectual, elitists. Apparently that Yale education did about as much good for her as it did for Bush.
May 4, 2008 1:02 PM | Reply | Permalink
Economists, Editorial boards and Environmentalists - she lumped them all under her "Elitist" umbrella. E was Hillary's letter-of-the-day. Hillary: "Why in the world would I listen to people who actually know about this stuff? I've got an election to steal." George W. Bush in red beads and a yellow scarf. And Water-Boy George still carrying buckets for her.
May 4, 2008 1:04 PM | Reply | Permalink
Bravo Hillary! You are exactly right. The elitists NEVER want the average Joe to get any break whatsoever. You see it with the minimum wage law where all the economists say that it will hurt average workers and you see it with this proposal as well. The brainwashed corporate stooges who support Obama are NOT on the side working people.
May 4, 2008 1:14 PM | Reply | Permalink
You're right, rstephen! And don't get me going about those elitist climate scientists and their global warming! Or those elitist physicists and their law of gravity!
May 4, 2008 1:16 PM | Reply | Permalink
Let's not forget those elitist biologists and their theory of evolution!
May 4, 2008 1:18 PM | Reply | Permalink
Why do you hate working people so much that you can't allow them to have a few extra dollars? We're not talking about a lot of money here, and the fact that it's only a little is the truest measure of your elitist hatred.
May 4, 2008 9:15 PM | Reply | Permalink
I'm going to vote for Hillary because she's the kind of person I'd like to have a beer with!!!! After all, that's worked so well in the past!
May 4, 2008 1:17 PM | Reply | Permalink
I'm voting for Hillary because she is anything but a corporate stooge! And all that money she's taken from insurance companies since her failed health care initiative means she really is for universal health care that will cut the middleman insurance companies out of the equation!
May 4, 2008 1:19 PM | Reply | Permalink
The most ridiculous part of this is that it really has nothing to do with the opinions of economists. It has to do with actual market forces and the rules of economics. What Clinton is doing here is a classic ad hominem and she knows it. Whether economists are elitists are not doesn't change the rules of math. Either it will work as policy or it won't and if it will, despite everything we know about supply and demand then Clinton needs to be forced to make an argument as to how her plans will somehow violate the basic principles of economics. Arguing about whether or not economists have the best interests of the working class in mind is arguing on the ground she has unfortunately, to her discredit, chosen which is to say, arguing on the basis of a completely irrelevant issue. Does 2+2=4 or not? The answer does not involve the character of any particular mathematician.
May 4, 2008 1:19 PM | Reply | Permalink
Sure, any time a candidate goes up against the corporations we should shun them like good little sheeples. Not
Move along. Protect the corporations, and hang your neighbors out to dry? I don't think so.
I'd be more impressed with Obama and his supporters if they didn't "argue" against their own best interests, while at the same time look down their long noses at those supposed blue-collar, low information voters.
Do you really think corporate interests and their money haven't had a thing to do with the widening wealth gap? Or the flat wages? Or the offshoring that's fucked up the environment?
I've got a bridge to sell you in Brooklyn.
It's O.K. for Clinton to be right about something once in a while. There's no need to cut off your noses to spite your faces.
The Corporations need to be beaten down. If you haven't figured that out yet, you maybe want to go and visit some folks in a different zip code. You know, those ones you never tire of ridiculing?
Well, people make fun of frogs, too, but real environmentalists look to see what's going on with frogs as a sort of "early warning system."
If you really want to win at all costs, that's up to you. Me, I'm for those who work hard for less and less compensation, and are just looking for some fairness and parity.
The economists and elitists have failed them, and you are failing each other.
May 4, 2008 1:21 PM | Reply | Permalink
Her plan can only help the corporations and certainly won't help working people at all. Pretending otherwise, when she absolutely knows better, is the insult to working Americans. As one of those working Americans, I take her insult, and yours, quite personally.
May 4, 2008 1:24 PM | Reply | Permalink
You should be insulted. It's amazing to me how some will personalize corporations, and yet when a single person (e.g. Hillary) is worth $100M, that seems to go unnoticed. The fact is that the Clinton administration helped finance overtake manufacturing as the #1 sector of the economy.
Now Hillary wants those job losses to be used to help her politically.
I agree with you, class-warfare baiting sounds good, but the arguments typically aren't coming from the working people!
May 4, 2008 1:52 PM | Reply | Permalink
Well most working Americans are tired of the corporations insulting them.
There are always those that will bleat. Sorry you're allowing yourself to be led by the nose by corporate shills.
Nothing changes in the echo chamber.
Obama could say I'm suspending corporate taxes and doubling them on the Middle Class and you'd find some way to defend it.
I don't expect your sort will be around after the primary. You'll all go back to sleep.
At least, until another bunkshooter comes along and tells you what you want to hear. Mainly that you're smarter then your neighbor and that wet feeling oozing down your back is rain, even though it's yellow and smells funny.
May 4, 2008 3:11 PM | Reply | Permalink
Your argument is completely incoherent. Clinton's proposal does nothing but help the corporations. All it does is allow them to raise their prices. Repeating over and over that this is some sort of strike against the corporations doesn't make it so. And I assume that you know better. So when you say that removing a tax that will simply allow gas companies to raise the prices on their commodity is somehow a blow against them, what you are doing is insulting my intelligence. And you know it.
May 4, 2008 4:09 PM | Reply | Permalink
That's what they said about the New Deal.
"They" were wrong.
May 4, 2008 11:35 PM | Reply | Permalink
So basically, you have no actual argument to make about how removing the added cost of a product will somehow harm the corporation thats selling it. You want me to accept that, by some sort of magic apparently, the corporation selling the product won't merely increase their prices and pocket greater profits. You simply want me and others to accept your plainly incorrect argument which you cannot even be bothered to defend with an even minimal discussion of the details of the policy itself. No sale.
May 5, 2008 9:58 AM | Reply | Permalink
The manufacturing sector has been beaten down. Look at the mid-west. Hope you are satisfied with your bumper sticker slogan and your all-too-real result.
Been meaning to ask you, workerbee: are your two homes in two different zip codes?
May 4, 2008 1:56 PM | Reply | Permalink
I suppose all that stuff in the Iraq intelligence reports available to her -- but never read -- before supporting the war was just full of "elite opinion," too?
Stunning.
Undeclared supers? One candidate just declared that educated opinion based on history and fact is somehow a negative. Please tell me how this is good for America and democracy?
May 4, 2008 1:23 PM | Reply | Permalink
Hillary, please pack it in. Stop. Give it up. Let Obama have his victory.
May 4, 2008 1:31 PM | Reply | Permalink
"I don't listen to economists."
Has Bush even said something so stupid as this?
May 4, 2008 1:33 PM | Reply | Permalink
Your avatar wins.
May 4, 2008 3:04 PM | Reply | Permalink
"I don't listen to economists."
I'm beginning to think space aliens have stolen Paul Krugman's brain and replaced it with a can of Skoal.
May 4, 2008 1:35 PM | Reply | Permalink
jajaja, Colbert anyone, leading from the gut, that's GWB for you and know HRC's supporter must go out and defend this, this is getting orwellian.
May 4, 2008 1:54 PM | Reply | Permalink
As usual, the Republicans try to drive a wedge between and "the common man" and those who are educated, skilled, and competent by labeling those who actually know what they're talking about as "elitists". This is one of the oldest Republican tricks in the book. What, you say? Hillary's not a Republican?
Prove it.
May 4, 2008 2:06 PM | Reply | Permalink
You can't prove the negative.
May 4, 2008 6:06 PM | Reply | Permalink
When economists are divided, it means that there's no definitive answer to the pickle we're in.
However, when economists are unanimously against and idea, it means the idea sucks. It sucks.
The economists are unanimous.
May 4, 2008 2:07 PM | Reply | Permalink
No doubt our fair Hillary would also characterize the majority of climate scientists as elitists if her internal polling and focus groups recommended it. I'm waiting for her endorsement of intelligent design any day now.
Forget for a moment what a lousy idea this gas tax holiday is. The bigger story is how clearly this reveals (as if it needed any more revealing) that HRC is without any core conviction whatsoever.
On this issue alone, she's managed to stiff-arm concerns about our fiscal solvency, our infrastructure, our international dysfunction as it relates to energy profligacy, and climate change. Simultaneously.
May 4, 2008 2:13 PM | Reply | Permalink
What nobody is mentioning is this is not a new idea, Obama said it again this morning on MTP , they tried it in illinois and the consumer saw no relief, he said that they in turn lost vital funds for highways and roads, sen. clinton counters with the windfall tax but last time I checked she already committed that money to alternative energy investment and the genral election isn't until Nov. any takers on GWB not vetoing a windfall tax on oil companies
May 4, 2008 2:21 PM | Reply | Permalink
I think the DENIAL of 'elite' opinions is what we've had for the last 7 1/2 years, W continues to talk about being the Decider, not worrying about polls, and ignoring scientific or economic or other 'elite' opinions in favor of ideology. Here we have someone ignoring expert opinions in order to paint herself as an ordinary Jo, not even in the name of ideology, and looking damn Republican in the process...
May 4, 2008 3:14 PM | Reply | Permalink
Stupid fucking elitists and their ability to actually spot a stupid idea and coherently and rationally explain why it's a bad idea. Who wants them running the government? Geez.
May 4, 2008 3:34 PM | Reply | Permalink
Hillary C's sole purpose for staying in the race since Pennsylvania and onward is for nothing more than to willfully chip away at, reduce and cause serious doubt to a core segment of Dem voters as well as any Independent or moderate Repubs -- all in the service of undermining and severely damaging Obama and his chances of winning against McCain.
Her prime weapon of choice in accomplishing that is her yielding of hot button Repub language like "elitist" to slice and injure Obama and carve away at the Obama coalition.
Hillary Clinton is The Ultimate Concern Troll.
May 4, 2008 3:49 PM | Reply | Permalink
Amen.
May 4, 2008 3:56 PM | Reply | Permalink
I want a video link to the question from the audience member! Can't find it anywhere. Thanks. :)
May 4, 2008 3:58 PM | Reply | Permalink
Oh, yes! If anyone hears of a video, I'd love to know about it. I love it when the People themselves call BS on the candidates... especially those who've been shoveling it hard to show they aren't "elitist"
May 4, 2008 4:16 PM | Reply | Permalink
I ain't votin' fer no golldurned elitist.
I'm votin' fer that dumbass in the pantsuit!
May 4, 2008 4:01 PM | Reply | Permalink
This may sound random. However, economics is not a science yet. The negative externalities from Walmart/China effect failed to take into account the fact that China was the second consumer country of cars last year. This is to say that they will and are competing with Americans for gas. We all know the this gas is rationed via price. So those low low prices on Walmart goods/service are now coming back to haunt you at the pump. Fact is that as the third world expands thiet middle class, they will demand more fuel to run their cars.
China has one fifth of the earths population and if you add India it one third. They have a small middle class in comparison to America. China is about to surpass Japan (the second largest consumer on planet earth) as a consumer nation. America is the largest consumer nation and experts expect China to be number one in about 2025. So big corporations have to grin and bear it is they want into the China market. China doesn't respect intellectual/copy right, much more than human, child labor. In other words they have the clout to sign contracts with disappearing ink. If you dare complain, your punished by being excluded to the soon to be biggest consumer nation ever.
May 4, 2008 4:01 PM | Reply | Permalink
This gas holiday isn't a relief for us workin' Joes. The national debt is now more than nine trillion dollars. Forty percent of my income tax payment goes to paying interest on this ungodly debt. Forty percent! So Hillary wants to run this debt up another ten billion. I might save $50, but as a concerned, responsible citizen, I want to see my federal government exhibit some fiscal responsibility first. Hillary can't get an oil company windfall profits tax passed this summer while Bush is president. Get the money first, then talk to me about shifting taxes around.
Why didn't Hillary bring this up last summer when gas prices were hitting record highs then? Could it be that she wasn't running for office then? This is pure pandering.
What is disturbing is that she won't back off this proposal despite it being DOA. Sounds like her efforts with healthcare back in 1992. Her way or the highway. That's what I hate most about Bush, his absolute unwillingness to admit mistakes. Hillary is walking in his footsteps.
May 4, 2008 4:06 PM | Reply | Permalink
So I'm reading the transcript from today's show and there is no mention of the incident with the voter.....was it not televised????
May 4, 2008 4:11 PM | Reply | Permalink
See both of their interviews at:
May 4, 2008 5:48 PM | Reply | Permalink
Let me see. Two oil men in office (Bush/Cheney) and the price of gas triples. Thats just happened by chance, a freak coincidence. Or could the election of Grandpa (McCain) cause the price of beer to triple? Then there was a slim chance that the price of ketchup would have tripled. Just connecting the dots.
May 4, 2008 6:31 PM | Reply | Permalink
Anyone here ever read Hillary's health care plan? Here's the link to the plan as posted on her Web site: http://www.hillaryclinton.com/issues/healthcare/americanhealthchoicesplan.pdf
At the bottom of each page, you'll see a number footnotes citing the "elite opinion" of a many prominent economists -- some of whom even have PhDs!
The woman clearly thinks the hoi polloi are all idiots. You might even call her "elitist."
May 4, 2008 6:31 PM | Reply | Permalink
You really need to get facts right. No disrespect intended, but I see some non truths.
It was the Reagan who deregulated the banking system and after the DOT COM bubble burst these banks had to engage in risky business. That being the sub prime loans in order to keep paying these graduate school 25 year olds large sums of compensation. This bubble burst-ed in their face and there is a large group foreign and domestic, who primarily deal in safe fix income markets who have been burned. They see no credibility in the current banking system and therefore have created the credit crunch by not investing funds in the so called safe fixed income funds.
Then the Nixon era was plagued by inflation and his ill-fated plan to impose wage/price controls. That was what most economist would agree a environment conducive for surplus and shortage.
May 4, 2008 6:56 PM | Reply | Permalink
No they did not. The government propped up the banks as it had after the S&L failures. The banks might have been more conservative if there wasn't a bailout.
And some of your facts are incorrect:
a) Reagan did begin the process of deregulation -- which brought us the S&L mess. But GHWB and Clinton continued along and the financial sector became #1 in the economy under Clinton.
b) The Dot Com bubble peaked in March 2000, some 5 months after Glass-Steagall was repealed.
http://upload.wikimedia.org/wikipedia/en/d/de/Nasdaq2.png
Note in the graph that even with the peak of the bubble in March 2000, the NASDAQ was much higher than November 1999 for a while afterwards.
May 4, 2008 7:38 PM | Reply | Permalink
i am really looking forward to paul krugman's next hit job on obama and his republican talking points. does anybody have any theories about what is going on in his head? why does he hate on obama and ignore tanya harding's daily bile? will he ignore this insult that specifically targets him?
May 4, 2008 7:31 PM | Reply | Permalink
and then there is hillary who specialises in insulting those who would be likely to support her.
May 4, 2008 7:35 PM | Reply | Permalink
headline should read...HILLARY REPAYS PAUL KRUGMAN BY POOPING ON HIS ELITIST HEAD...my bet is on krugman keeping up his loyal toil.
May 4, 2008 7:42 PM | Reply | Permalink
"elite" equals "educated and informed" based on Hillary's use of the word.
she is now advocating policy conceived by the uneducated and uninformed?
This joker get more insulting by the day.
When will it end?
May 4, 2008 8:26 PM | Reply | Permalink
How many economists do you know also drive an eighteen wheeler? Or a cab? Or have a contracting company? Or callouses even?
No disrespect to economists (And btw,her economic advisor, Gene Sperling who was also chief economic advisor to her husband and was referred to as the MVP) but the vast majority of them have as much of a clue about daily expenses and budgets for working people as Rudy Giuliani does for a gallon of milk.
Perhaps Sen. Obama is either afraid of being tagged a "socialist" or doesn't want big oil to take the hit. You can believe her solution was vetted by her advisers.
The difference between Clinton's plan and McCain's is vastly different. McCain's is irresponsible tax cuts - the stock resolution to everything Republican and therefore the people - us - in the end - take the hit. Clinton's plan is exactly the kind of policy we need. Sure to strictly 'inside the boxers' or hard core conservatives it's radical sounding but so was FDR's First One Hundred Days, federally insured banks, the TVA, or social security to the Henry Luce's or economists of that era.
Hillary's plan is not a be all end all and perhaps you're not aware of this - but any short term relief for a majority of Americans is something that would be welcomed.
God forbid these poor souls shoulder some of the current burden..
Buoyed by soaring crude oil prices, Exxon Mobil announced yesterday that it set new records for U.S. quarterly and annual corporate profits in 2007, and Chevron, the nation's second-largest oil company, also reported big gains in earnings.
Exxon broke the record it previously had set for profits by a U.S. corporation, earning $40.6 billion last year. It earned $11.7 billion in the fourth quarter, or $2.13 a share, up 14 percent from the fourth quarter of 2006. Revenue for the quarter rose 30 percent, to $116.64 billion. Exxon's profit for the year came to $4.6 million an hour.
Chevron said its profit rose 29 percent, to $4.9 billion, or $2.32 a share. Chevron's quarterly revenue grew 29 percent, to $61.41 billion. Profits of the five biggest international oil companies have tripled since 2002.
http://www.washingtonpost.com/wp-dyn/con tent/article/2007/02/01/AR2007020100714. html
May 4, 2008 8:40 PM | Reply | Permalink
Yes, indeed.
It makes me wonder why the congress critters are all a twitter and the elitists are shouting it down. Screeching it down. After the last 7 years, I'd think that would give any Liberal some pause.
There hasn't been nearly enough discussion about this.
Thanks for your post.
May 4, 2008 8:49 PM | Reply | Permalink
I have a reply to this posted below -- damned check box didn't work for some reason!
May 4, 2008 9:54 PM | Reply | Permalink
I was just making the point that DOT COM was a great source of economic activity to the deregulated banking system. They found sub prime to fill the void. Prior to Reagan who establish the RTC (Resoultion Trust Corporation) to liqudate S&L real estate holdings, there was a difference between commercial banks and S&Ls/Credit Unions/etc... Commercial banks had FDIC as insurance, FDIC is the taxpayers money and was put forth to avert the runs on banks way back in the depression era. FDIC is real money and not monolopy money.
No political party is innocent. They all use tax cuts/rebates, interest rate reductions, and in this case wholesale deregulation for short term political gains and or to avert the economic down cycle. Sooner or later the FED, congress, and or taxpayers are forced to face the cost/bear the burden.
This reminds me of all the consumer benefits we have gotten from the global economy. We love the prices China/Walmart has given us. However, the fact that China was the number two consumer of autos last year, puts them as competitors for fossil fuels to run those auto. We as a nation being the number one consumer nation have enabled them to purchase them autos. Price is what rations fossil fuel at the pump. Did any economist expalin this prior to the wholesale shipment American jobs overseas?
http://seekingalpha.com/article/71265-the-credit-bubble-deregulation-gone-wild
May 4, 2008 9:45 PM | Reply | Permalink
Note me. I've never shopped in a Walmart for a variety of reasons (I'd rather support local business) but the fact that it is all from China was one of them. We really haven't benefited from the "global economy" as is shown quite succinctly here:
http://www.jibjab.com/originals/big_box_mart
May 4, 2008 9:49 PM | Reply | Permalink
First off, it's not 1932 anymore. We can have a hearty debate about whether the New Deal brought anything truly around - because America only became AMERICA when it had to industrialize for WWII. However, the world was totally different in 1932:
a) the government wasn't *already* huge
b) the country still had true manufacturing capacity
c) the financial sector as we know it didn't even exist -- and manufacturing was the #1 part of the American economy
d) the world's resources were still quite rich, not at the 1/2 way point
e) most Americans hadn't spent a lifetime building up credit debt yet
f) America was a large (if not the largest) creditor nation
Welcome to 75 years later, where we have a bloated government that doesn't provide the Homeland Security we need, that has an expanded social security program that is already broken and not based on sound actuarials, that has forsaken it's manufacturing might, that is in post-peak oil (with 80% of the oil reserves being tied to national companies of hostile governments), where people have lived in debt for years, and is one of the most indebted nations in the world, beholden to other nations who hold our foreign currency.
These are the real issues. Ask yourself why is it that the "gas tax holiday" comes in the summer months? It's because people can go on travel. This is not about "helping the working man", this is about bread and circuses.
Here's a thought: how about we use less oil this summer by keeping prices higher? This will force people the little inconvenience about not taking (or curbing) a vacation. We might start lowing consumption a bit -- and who knows? -- even bring prices down for the winter when people will need oil to keep warm.
The profits to the oil companies aren't the biggest issue on the table. Having a meaningful energy policy is. This will, someday soon, include gas rationing -- it happened in the 70s -- it will happen again to be sure.
I'd rather Hillary institute a program to teach people to fish rather than throw us 1/2 a fillet for 3 months.
I'd rather the government give us $5/gal gas this summer with that extra money going into a fund to rebuilt our passenger rail system (including light rail which is terribly expensive). Then, perhaps, people will finally get the point:
May 4, 2008 9:45 PM | Reply | Permalink
I too agree with much of what you say. Adding that we can build stadiums/arenas for the well to do. They risk nothing, yet reap rewards/profit from taxpayers money. The American capital system was to reward the risk taker. Golden parachutes for parasites who merit and or are worthy of long prison sentences. Yet we fail to extend the employment benefits of the working class, prior they had done an extension when the unemployment rate was about where it is now. Let them steal to feed their children/families and hence go to the prisons which should be occupied by CEOs who are parasites upon a society.
In any case there is an opportunity for an elected president. We need an agent of change to protect the ordinary Americans. Those whose sweat built the nation. The ones whose blood protected the nation.
May 4, 2008 10:45 PM | Reply | Permalink
So it's no longer 1932? Glad you told me. ;)
I conserve gas and energy whenever I can. And I agree that the days of cheap gas are over. I've seen 5 plus a gallon gas in Europe and Japan for years and I have always thought it was a matter of time before it happened here. And much of what you say I agree with.
And thankfully, my family has been spared much of what many others are going through.
It wasn't that long ago when I received a call from a single mom with kids who had no heat in her apartment. (I do part time work with a consumer protection nonprofit.)It was a cold winter here in Detroit and she and her kids were terribly sick. She was crying and coughing through the phone call.
The building owner was a slumlord. I did my best to get her heat. Which she got within 2 days. I am grateful that I was able to have been of assistance. And the slumlord was in court after a local tv station put a camera on the tenant's terrible situation. She didn't need to be admonished for making lifestyle choices or blamed for her circumstances. Frankly, she didn't have time to "get the point."
So you disagree with the premise of the New Deal?
Perhaps some other time we can toss some thoughts around.
Interestingly enough however, the argument you state re the New Deal is one I usually hear from Republicans.
Myself, I would rather err on the side of compassion. And again, like I stated - I am fully aware that this is by no means a be all end all.
It is my belief that any short term relief that can be provided would be received gratefully by a majority of this country. Pax
May 5, 2008 12:04 AM | Reply | Permalink
No kidding. Good luck with that, taters.
Maybe it isn't 1932, but it may be 1908. The similarities are eerie.
May 5, 2008 8:14 AM | Reply | Permalink
From "Head of State"
http://headofstate.blogspot.com/2008/05/clinton-calls-for-bad-weather-holiday.html
Monday, May 05, 2008
Clinton Calls for "Bad Weather Holiday"
"When asked this morning by ABC News' George Stephanopoulos if she could name a single economist who backs her call for a gas tax holiday this summer, HRC said "I'm not going to put my lot in with economists.”
The gas tax holiday is...so economically stupid (it would increase demand for gas and cause prices to rise, eliminating any benefit to consumers while costing the Treasury more than $9 billion, and generate more pollution) and silly (even if she won, HRC won’t be president this summer) as to be worrisome. That HRC now says she doesn’t care that what economists think is even more troubling."
-Robert Reich, May 4, 2008
I know we've got those "intellectual", high-falutin', elitist meteorologists, those "forecasters" with their complicated charts and their mumbo-jumbo, their high fronts and their low fronts, their Doppler radars. But I've come to say that we're going to put an end to all of that.
When my daddy and I went out in the morning in (Scranton, Indianapolis, Durham, Hagåtña, Charlotte Amalie, San Juan), and he said "It's going to be a sunny day today", well, that was good enough for me.
And that's why, if you vote for me on (May 6, May 13, June 3), I will put into effect a "Bad Weather Holiday" running from the years 2009-2012--and potentially extendable.
That's right. We shouldn't have to eat our (hot dogs, barbecue, tamales, Chicken Estufao, Stewed oxtail) under rainy skies. We've had enough of going off to work in the (streets, sands, seas) of this most beautiful (state, territory) only to face a cold, cloudy day. We know what it's like to rest our weary bones after a hard day of labor in the nearest (local watering hole, locale taberna, berlina) only to step out into a stiff, tiring wind.
The Weather issue is very real to me, as I've been meeting people across this nation who (walk, drive, sail, ride ox before stewing tail) to work, and would save precious sums if they did not have to spend their hard earned money on "umbrellas" and "rain coats" and other high priced, high class items of the upper crust.
But I say: Let the 'Umbrella Lobby' take the brunt--not our hard working citizens. Oh, sure. I know elite opinion and so called "academic experts" say that my plan would cause 12 straight years of hail, swarms of ravenous locusts, and a vortex of hurricanes ranging from the Mideast to the West Coast.
But I don't put stock in experts. And neither should you. And that's why you should vote for me on (May 6, May 13, June 3).
Cite:
Head of State
http://headofstate.blogspot.com/2008/05/clinton-calls-for-bad-weather-holiday.html
May 5, 2008 1:41 AM | Reply | Permalink
You were doing okay, until you reached for a stereotype -- and a cheap one at that. That disappointed me. The fact is that I have worked with elected officials which were both Dems and GOPers. And you know what? Not one of them twirls his or her mustache.
I tend to avoid both left and right dogmatic arguments: I've been around too many people on both sides to know that I've rarely met malicious people. As a result, I have heard multiple sides of issues. I have found that the so-called "progressives" are often just as rigid and close-minded as the extreme right. That's not too progressive.
Short term relief for vacations is like complaining about not getting dessert. Vacations are a luxury. If you have children, it may be more beneficial to think in the long term -- to extend our finite supply of oil as long as possible. It's well known the lower prices encourages consumption. Add to that all the economic analyses you've seen recently.
It's time for the country to grow up. We desperately need it to. Maybe then, being labeled as "intelligent" won't be the elitist slur it is in the US -- unlike the rest of the world that is passing us by.
I look forward to discussing things with you, taters, in the future.
May 5, 2008 1:53 AM | Reply | Permalink
Talk about pandering LIARS, when Obama was campaigning in Iowa he was all for expanding ethanol production from corn. He never stopped singing its praises.
http://www.youtube.com/watch?v=yLPOiQTWIGQ
But now that people can't buy food because of rising gasoline prices, he says he wants to cut back on ethanol production and "make changes in our ethanol policy to help people get something to eat."
Hey Obama - get a clue! If people don't have to spend so much on gasoline, they'll have more money to spend on food, you pandering klutz.
May 5, 2008 3:43 AM | Reply | Permalink
Well, for the most part, American voters are dumb
May 5, 2008 8:10 AM | Reply | Permalink
Interesting. So if Hillary does win who do you think she picks to head all of her economic posts in her cabinet. I hope it's someone knowledgeable about the economic needs of "real Americans" and not some elitist know-it-all economist.
May 6, 2008 2:33 PM | Reply | Permalink