Liz-Vision

  • August 26, 2008 09:39 PM EDT by Liz Claman

    The Sort of Person One Would Want at Obama's Elbow

    That's how columnist George Will described Senator Barack Obama's Senior Economic Advisor Austan Goolsbee.  Today we got Goolsbee in front of our viewers on Countdown to the Closing Bell to find out just exactly what Obama's plans are for the U.S. economy if he were to be elected president.

    Let me pull out some important points the campaign is putting forth regarding Senator Obama's plan:

    --The top two income-tax brackets would return to their 1990s levels of 36% and 39.6% (including the exemption and deduction phase-outs).  All other brackets would remain as they are today.

    --The top capital-gains rate for families making more than $250,000 would return to 20%--the lowest rate that existed in the 1990s and the rate President Bush proposed in his 2001 tax cut.

    --The tax rate on dividends would also be 20% for families making more than $250,000 rather than returning to the ordinary income rate.

    --The campaign says the estate tax would be effectively repealed for 99.7% of estates, and retained at a 45% rate for estates valued at over $7 million per couple. 

    Everyone has questions..I certainly had a few. If you're a smart voter, you've got questions too. I hope once you watch the clip things might be clearer for you no matter what side of the aisle you sit on in this great country.

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T. Edward Langan

Liz, If this is an economic plan, I give up !!! This is just tinkering with the current policy. If CHANGE is this candidates platform, it's a failed platform. We need bold objectives and some dynamic ideas. Anyway, now that McCain has picked Sarah Palin its a moot point -- it's over for Obama and the devil behind him. . .

August 29, 2008 at 3:44 pm

Jim

I wish someone would run the numbers to see just how much revenue this would develop. My bet is, it won't be enough to satisify the dems and we will get trickle-down taxing. In other words, I for one, am not lulled into thinking that because my family earns less than $250,000 a year we will not see an Obama tax increase on cap gains and interest and an Obama tax increase on our income because we are not in the "top two income-tax brackets".

August 28, 2008 at 5:28 am

Cats

This is nothing short of class warfare. The upper income people have enough and can give some of it up. The oil companies have made enough money and they can give some of it up. It is nothing short of pure Democrat Party asset re-distribution. It is just plain wrong.

August 27, 2008 at 2:22 pm

Eric

Liz: You do not come across as someone with a high level of gullibility so please do not Try and convince us that this guy is telling the truth. These people are politicians first and will say anything to get their candidate elected. NoBama ‘08.

August 27, 2008 at 1:53 pm

chuck

Liz when it comes to economics Goolsby in my opioin doesn't put forward any honest solutions with Obama's plan. I had microeconomics in junior college and I can tell you Goolsby points are weak. For exmaple he exposues alternate energy sources which I'm in agreement with but he doesn't present an honest picture of solving a real problem: like say the housing market slump. He doesn't seem to know enough about the present energy crisis. Especially when his surrogates and Pelosi say that it's going to take ten years to get oil out of ground. To be blunt I trust Eric Bolling,other traders in the commidity market who know more on this industry than someome like Goolsby. He makes good talking points but does he have a real solution as to deal with Frannie and Freddie? THe FDIC needing more more funds from the treasury to rescue more banks? Everytime I hear an Obama Surrogate on economics I doubt if they know the real facts what real people honestly face. By the on energy last night the Govenor of Montana made a fool of himself and he should be put on Comedy Central like the Daily Show. That's how comedic elements of the Democratic Convention have been.

August 27, 2008 at 10:24 am

about this blog

  • Liz Claman joined FOX Business Network (FBN) as an anchor in October 2007. Her debut included an exclusive interview with Berkshire Hathaway CEO and legendary investor Warren Buffett.

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