How to Buy an Election without Spending a Penny

It is pathetic to watch the US presidential campaign. The candidates don't get to talk about the issues. Instead "debates" are run as if it were pin the tail on the donkey with the best "gotcha" pulled by a so-called moderator. And now we have McCain and Clinton breathing fire about a complete non-issue and getting loads of press about it. They want to drop a gasoline tax this summer. They haven't won the presidency, they have no power, but they are on the stump proposing "actions" which have nothing to do with their candidacy. Worse, what they propose is plain foolish. It is a blatant pandering to the audience and buying voters with their own money! Lowering a gasoline tax won't lower the prices unless they plan to hire a mob of "inspectors" to check pumps and prices and an army of accountants to go through books to make sure that removing a tax is "passed through" to the customer. And, even if this works, all it does is encourages people to drive more and when the "tax holiday" ends, assuming prices went down -- which every economist tells you won't when supply is constrained -- the prices go back up and all those supposedly "happy" voters will be outraged about "higher prices" all over again. What an idiotic "plan". If this ability to "solve" a serious energy problem is evidence of their leadership, the voters should shun them, refuse to give them any votes, and flock to whoever is left on the ballot (Obama!) to show their disdain for this idiocy.

Here's what Barry Ritholz says is the problem with McCain & Clinton's "plan" for dealing with an energy crisis:

We have no energy policy, and none on the horizon. Candidates serious about the issue of high energy prices should be discussing increased CAFE standards, capital gains tax waivers for alternative energy investments, greater offshore drilling, Pigou taxes, rapid nuclear plant approvals, a huge increase in the basic R&D the government does on energy -- a Manhattan project for energy and transportation science.

Instead, we hear proposals about waiving an 18 cent tax.

Back in 1976-1978 I taught high school with materials talking about the "energy crisis". You had U.S. politicians promising a "Manhattan-type effort" to achieve energy independence. But nothing was done. That was 30 years ago. The U.S. has had 30 years to deal with this problem and no politician has had the guts to stand up and tell the American people to "get real" and deal with the problem. Oh, wait a second, you have one. You have Barack Obama saying he won't play these silly games of lying to the electorate. And what has happened to him? Oh, well he's not electable because he went to a church where the preacher is a little nutty. Now that's a reason to say "no" to him and go for the candidates who are willing to bribe you with your own money!