Tuesday, 29 April 2008

Obama continuing to win the economic literacy debate

As noted previously on these shores, Barack Obama has—contrary to his reputation as the “most liberal senator” ginned up by the National Journal—generally made proposals that make economic sense. His opposition to the hare-brained “gas tax holiday” scheme is another point in his—or at least his economic advisors’—favor.

That said, I will quibble with Dan Drezner’s half-suggestion that Obama run with the “it’ll only save you $30” talking point. My general feeling is that when politicians have belittled dollar figures in the past—most notably when the first $300 tax rebate was being proposed way-back-when (2002?)—voters outside the beltway bubble generally seem to think that they have better ideas about how to spend the money than folks in Washington do, especially when they're not making a six-figure government salary. That said, I think the talking point works better when it’s a relatively non-transparent tax like the 18.4¢/gal federal gasoline excise tax that generally isn’t broken out on receipts rather than a check that shows up in the mail.