Drake v. Nye Part II: Playing Ducks & "Drakes" with the Facts

Instead of giving her 5 minute introduction in the debate, Drake went on the attack.  She stated that her campaign had recently discovered that Glenn Nye owned a house in D.C. and that he claimed it as his primary residence in order to claim the Homestead Tax exemption allowed only for residents of the District.  

Clearly, Drake's intention, although she stated that it appears Nye has followed the law, is to stir up attention to detract from the fact that she's a big business Republican in a time when "big business" has just about bankrupt the United States.

ECONOMY
The first question directed to the candidates was about the economy.  They were asked whether they supported Secretary Paulson's plan or the alternative from Congress.  Drake responded by stating that "we" were just on a conference call with Paulson and Ben Bernanke and that there will be a bill coming soon.  (I'm assuming that her "we" meant members of Congress.)  

Drake rightly noted that we can't permit the financial markets to collapse, but then she said, "I don't know what that bill will look like."  One can only assume that she doesn't know what the bill will look like because she is not involved in its drafting.  

Finally, I nearly dropped my pen when Drake suggested that we might want to "relax Sarbanes-Oxley."
For those of you who haven't been forced to slog through corporate and financial regulations for the heck of it, or for clients (ahem), the Sarbanes-Oxley Act of 2002 is a far reaching statute that introduced major changes to corporate regulations after the first round of corporate financial shenanigans with Arthur Anderson and Enron.  The whole purpose of SOX is to inspect and monitor public companies to protect shareholders and investors.  

So let's be absolutely clear here - When Thelma Drake said, "Should we relax Sarbanes-Oxley?" she was stating that she is in favor of relaxing corporate regulations that protect investors.  In the middle of the worst U.S. financial crisis since the Great Depression.  A financial crisis largely created by deregulation and fewer protections for investors.

Great idea, Congresswoman.  Great idea.  

Would you like me to just write out a check to your large company of choice right now, Thelma?  Just give me a few days to completely liquidate my 401K and investment accounts, would you?

In response, Nye stated that we need to act "resolutely" but also that we need to ensure that we have more oversight.  THANK YOU, VOICE OF REASON!

Next came questions regarding energy policy, health care, and Iraq.  Not much new came up there, so I'll refer you to the post I wrote after the first debate, and just add that Thelma Drake voted against SCHIP.

TAXES
For the question on taxes, Thelma was again in raptures over the 15% corporate flat tax in Ireland, which she would like to implement here.  Of course, every time she brings that up she fails to mention that Ireland's individual income tax rates are quite high, with a rate of 20% on the first 34,000 pounds of income and a rate of 41% on any remaining income.  While Drake was flogging (incorrectly) Obama's tax plan with a rate of up to 40%, she was also touting Ireland as the shining example of a wonderful tax system.

Ms. Drake, do your research.  You can't have it both ways.  What exactly are you proposing?  A tax system like Ireland's with a 15% corporate tax and the individual taxpayer bearing the rest of the tax burden at rates as high as 41%?  Or are you opposed to an individual income tax rate of 40%?  Because I honestly have no idea what you're proposing now.  I know you have some great policy people on your staff.  I happened to meet a few of them at the debate.  Please, use them.

In contrast, Nye stated that no taxes should be increased while we're in this financial crisis.  He also bucked the Democratic party by stating that he doesn't think the capital gains and dividends taxes should be increased either.  This led nicely into the last question regarding partisanship.

PARTISANSHIP
The final question was about bi-partisanship and how the two candidates plan to work to get things done with representatives across the aisle.  Nye pointed to his past experience working for the state department and in places like Afghanistan and Iraq where party affiliation is irrelevant.

Just before Drake got up to respond, I witnessed someone from Drake's campaign (who happened to be sitting next to me) write a note to her and pass it up.  So I used my nice big zoom lens and took a picture of the note card:

The first sentence says "I am the only one who has acted bipartisan."

Anyone want to guess what Drake said first when she stood up?  Yep. It was almost word for word from the note card.

Aside from the fact that Drake apparently needs help in the debate, it was stunning to hear Drake act as if she's the voice of bi-partisan progress.  She's voted with George W. Bush 98% of the time over the last two years.  If that's not partisan, I don't know what is.

Drake then went on to tout her experience as a local realtor as evidence of her ability to negotiate.  Honestly, Congresswoman, when I compare that to Glenn Nye's experience in negotiation - in war zones and in hostage situations - your ability to bilk an additional .5% commission out of a real estate sale doesn't even compare.

If the 2nd District re-elects Thelma Drake, the voters are simply asking for more of the same.  So far we have: a war we're stuck in, a money pit of reconstruction, an energy crisis, and a financial crisis of massive proportions.  Do we really want to add to the problems in Washington by sending back a proponent of more financial deregulation?  Hell, no.  

Frankly, Nye is the only responsible choice in the 2nd Congressional District.

Stephanie also blogs about national politics at MOMocrats.

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