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After Biden, The Economic Debate Takes Shape

Posted in Main Blog (All Posts) on August 29th, 2008 4:32 am by HL

After Biden, The Economic Debate Takes Shape

The least wealthy member of the Senate took the stage of the Democratic convention hall Wednesday night to accept the vice-presidential nomination, and sharpened the contrast between the progressive and conservative economic visions. The pressure will now be on Sen. John McCain next week to either defend the conservative vision or acknowledge its failures and respond with new ideas.

In introducing himself to the broader electorate, Sen. Joe Biden sought to show that he got what’s going on in America, not with stats, but with clear sense of what goes on around middle-class kitchen tables. From the prepared remarks:

Almost every night, I take the train home to Wilmington, sometimes very late. As I look out the window at the homes we pass, I can almost hear what they’re talking about at the kitchen table after they put the kids to bed.

Like millions of Americans, they’re asking questions as profound as they are ordinary. Questions they never thought they would have to ask:

* Should mom move in with us now that dad is gone?

* Fifty, sixty, seventy dollars to fill up the car?

* Winter’s coming. How we gonna pay the heating bills?

* Another year and no raise?

* Did you hear the company may be cutting our health care?

* Now, we owe more on the house than it’s worth. How are we going to send the kids to college?

* How are we gonna be able to retire?

Biden then juxtaposed McCain’s support for corporate tax cuts and opposition to raising the minimum wage:

When John McCain proposes $200 billion in new tax breaks for corporate America, $1 billion alone for just eight of the largest companies, but no relief for 100 million American families, that’s not change; that’s more of the same.

Even today, as oil companies post the biggest profits in history—a half trillion dollars in the last five years—he wants to give them another $4 billion in tax breaks. But he voted time and again against incentives for renewable energy: solar, wind, biofuels. That’s not change; that’s more of the same.

Millions of jobs have left our shores, yet John continues to support tax breaks for corporations that send them there. That’s not change; that’s more of the same.

He voted 19 times against raising the minimum wage. For people who are struggling just to get to the next day, that’s not change; that’s more of the same.

And then he argued that Obama would invest in jobs and education, while cutting middle-class taxes and making health care affordable for everyone.

Barack Obama will reform our tax code. He’ll cut taxes for 95 percent of the American people who draw a paycheck. That’s the change we need.

Barack Obama will transform our economy by making alternative energy a genuine national priority, creating 5 million new jobs and finally freeing us from the grip of foreign oil. That’s the change we need.

Barack Obama knows that any country that out teaches us today will out-compete us tomorrow. He’ll invest in the next generation of teachers. He’ll make college more affordable. That’s the change we need.

Barack Obama will bring down health care costs by $2,500 for the typical family, and, at long last, deliver affordable, accessible health care for all Americans. That’s the change we need.

The ball is now in McCain’s court.

With many conservatives insisting the economy is good, regardless of how most voters feel, McCain has struggled to come up with an economic case that appeals to both conservatives and swing voters.

He has even told conservative audiences that Americans are better off than seven years ago, then told others the opposite.

Such contradictory statements won’t fly during his convention, where he has to address both conservative delegates in the hall and swing voters outside the hall at the same time.

McCain will need to offer a single view of how the economy is faring that voters find credible.

He will have to decide if he really thinks more tax cuts for corporate executives are what voters think the economy needs, or if he needs to put more on the table to convince voters he will help increase wages, reduce costs and create jobs.

And he will need to deal with the fact that what resonates with most voters in his television audience isn’t what will resonate among conservatives in his convention audience.

We’ll see who he ticks off more.

Originally posted at

One Response to “After Biden, The Economic Debate Takes Shape”

  1. West Coast Trucker Says:

    so tell me just how is it that obama is going to cut taxes on the middle class and not everyone else. the democrats have been using this line for more than 50 years and look at what carter did and clinton. clinton gaves the people of this country the highest tax increase in its history. obama wants to give everyone affordable health care. just how does he plan on doing that. get the government out of the health care system all together? no he wants to start a national health care program. well there goes more of our paychecks that he is saying he want to give us more of. he wants to invest in jobs. and just what jobs does he want to invest in. i haven’t heard anything about that. he wants to help the middle class. well here we go with the class crap again. well who is going to make up the difference than. since the top 50% or wage earners pays 96.7% of the taxes and the bottom 50% only pays 3.3% just who do you think is going to get a cut. unless you are doing like a lot of people do and mixing corrperate taxes up with individual taxes. that is a all together different tax system. and while we are on that subject lets talk about “Big Oil”. everyone wants them to pay more and more because they are getting billions in profit and yet more and more people own shares in those companys. yet no one will tell you that out of those billions in profit the us government gets half. that is right they pay 50% of their profits to the government in taxes and they have been doing that for years, log before gas went to over $2.00 a gal. obama wants to tax business more and by doing so he isn’t going to be creating jobs he is going to be taking jobs away from people. if you had a business and what you had to pay the government went up would you be spending more money to create jobs which is more over head and more taxes for your company or would you do the job with the same number of people you have and wait till you can afford to hire more people after getting more work. why people can’t see this is beyond me. this is nothing more than basic economics like you would use in your own home. nothing more. but you would rather have the government give you something and than whine about the fact that you are paying more later because it makes you feel good now. like you are doing something good.