I find it odd that McCain never mentioned his big economic initiative this week: a cut in the capital gains tax to 7.5% from 15%, and a bigger capital loss tax write-off from $3K to $15K. They both make a lot of sense as growth and recovery measures during this horrible stock plunge, credit freeze and recession. Also, he is trying to connect with the investor class, where he is running even with Obama. Republicans must run at least ten points ahead with this group in order to win. Bush beat Kerry by 11 points in ‘04. But for some inexplicable reason, Mac never mentioned it. Very strange.
I think Mac did himself some good with Joe the Plumber, as a way of highlighting Obama’s “spread the wealth” class warfare redistributional tax hikes. Mac also helped himself on school choice and right to life, although the latter was like pulling teeth– though he finally got it out.
But once again Mac did not sell the corporate tax cut as a middle class tax cut, which it is since businesses pass the tax cost along as price hikes to consumers.
To be honest, I don’t think Mac works hard enough to master the economic issues, especially tax cuts and growth. He has supply-side policies, but he is not a supply-sider. It shows when he talks about that stuff.