Tucker Carlson: Candidates weak on economy

Neither Sen. Barack Obama, D-Ill, nor Sen. John McCain, R-Ariz., possesses a solid sense of the economy, but whoever wins the presidential election will take vastly different approaches to try to cure its ills, political commentator Tucker Carlson told attendees of the National Association of Personal Financial Advisers conference today. Mr. Carlson, who currently contributes to MSNBC’s political coverage and who is best known for his role as co-host of CNN’s “Crossfire” from 2002 to 2005, was the keynote speaker for Arlington Heights, Ill.-based NAPFA’s West Conference in Denver in a session called “Politics & Economy: Election 2008.” “None of these guys has ever managed a Jiffy Lube,” he joked, referring to the vehicle maintenance chain. “[The economy] is not their strong suit in any case.” Mr. Carlson emphasized that if Mr. Obama wins the presidency, it will mean higher taxes on capital gains for wealthy Americans as well as staunch opposition to raising the retirement age for entitlements — issues that will greatly affect financial advisers. Mr. Carlson noted that Mr. Obama wants to have 10% of the country’s energy made up of renewable resources by the end of 2012. “That is a radical departure from where we are now,” Mr. Carlson said. Even though the conservative pol disagrees with much of Mr. Obama’s economic policy, he praised the Democratic candidate for his endorsement of a healthy free-market system.