A few links on economics for your morning perusal:

John Stossel on John McCain: “It would be nice if McCain would finally learn some economics.” Yep, it sure would.

Robert Samuelson on inflation, yet again: “Surveys show that people’s “inflationary expectations,” after years of stability, are rising. The Fed is holding its key interest rate at 2 percent, well below prevailing inflation. In the 1970s, this condition stoked inflation. An indecisive Fed risks repeating its previous blunder.”

Don Luskin on Obama’s cockeyed Social Security tax increase: “But the most alarming thing about Mr. Obama’s proposal is that the $250,000 threshold, above which the payroll tax would be applied, refers to household income, not individual income. So it’s quite deceptive when he claims that the $250,000 threshold will “ensure that lifting the payroll tax cap does not ensnare any middle class Americans.”

Suppose your household consists of you and your spouse, each earning wages of $150,000 per year. Currently, you are each subject to the payroll tax up to $102,000 of wages, so together you are taxed on $204,000. Under the Obama plan, you’d be taxed again on another $50,000 of wages.” YIKES!!!!!

Tags: Barack Obama, Donald Luskin, Economics, Inflation, John McCain, John Stossel, Robert Samuelson, Social Security, Taxation

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