News & Observer | newsobserver.com | Economic matters

Published: Sep 30, 2008 12:30 AM
Modified: Sep 30, 2008 06:44 AM

Economic matters

 

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In these times of economic crisis caused by the current administration's blind trust in free market economics where corruption easily runs rampant, one must look closely at how well our next presidential choices understand or at least prepare themselves to discuss economics.

In the first presidential debate, John McCain referred not once but on two occasions to his plan to double the dividend from $3,500 to $7,000 for every dependent child in America. Someone needs to explain to McCain that what he is referring to is an exemption in the income tax system -- a dividend is a payment he and most wealthy people receive as one of many profits on their investments. I could understand one slip of the tongue, but his consistent use of the term dividend in place of exemption illustrates he obviously does not even understand basic economic concepts.

Elections today are dominated by emotional rhetoric and mistruth. It is time to look closely at the intelligence of the candidates in relation to today's critical issues -- devastation of the economy and environment, overdependence on oil -- and elect a highly skilled team with plans it is actually capable of understanding and explaining.

John Yoakum

Cary

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