In today’s editorial, we write:
Instead of pushing this gimmicky idea [a gas-tax holiday], McCain should be voicing his support for a strong dollar and advocating pro-growth tax policies as an alternative to incessant interest-rate cuts. We understand the difficulty of selling a cut in the corporate tax rate in the current political environment, but such a tax cut would boost employment and make American products more internationally competitive, without weakening the dollar.
A clarification may be in order. McCain has come out numerous times in favor of cutting the corporate tax rate from 35 to 25 percent; we have commented on it before, and did not mean to deny the existence of his commendable proposal. Our point was merely that he should talk about it more than he talks about the gas-tax holiday, and should talk about it in the context of strengthening the dollar.