FELDSTEIN IS STILL A LYING WHORE

In a WSJ op-ed, "The Tax Rebate Was a Flop. Obama's Stimulus Plan Won't Work Either," Prof. Martin Feldstein makes 2 dishonest arguments.

One is that a windfall tax on Big Oil profits will reduce the amount they spend on refining and exploration and that will result in "oil prices higher than they would otherwise be." First, they don't want to lower the price of oil because that is against their economic self-interest. Second, we need alternatives to oil instead of going down this dead-end road to Peak Oil.

The second is Feldstein's attack on Obama's tax plan. Feldstein asserts without proof that the increases on those making over $250K will greatly hurt our economy despite lack of evidence. He also fails to mention the cuts Obama has proposed for the vast majority of Americans who make less than $112K.