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Thursday, October 16, 2008

McCain's (hopefully) last hurrah


John McCain's best line during last night's debate was when he tried to separate himself from George Bush by telling opponent Barack Obama "I'm not George Bush. If you wanted to oppose George Bush, you should have run for President four years ago."

The problem, however, was that throughout the rest of the debate McCain outlined economic policies that are carbons of the Bush policies that got us into this financial mess in the first place. Instead of using the final Presidential debate to outline a way to get us out of this financial crisis, McCain stuck to the same Bush trickle-down theories -- cut taxes and government spending. And what he means by this is cut the taxes of the richest of American citizens and cut spending in those programs that working Americans desperately need right now.

McCain also echoed the nasty rhetoric his campaign has been espousing in these last weeks, especially when he continuously trudged out the parable of "Joe the Plumber" to accuse Obama of engaging in exactly the "class warfare" that has been at the heart of McCain's campaign.

And, what has to be the biggest shock to my sense of fair play, came when McCain refused to acknowledge, let alone repudiate, the erroneous and absurd campaign tactics of running mate Sarah Palin and tried to paint himself as the victim of unfair attacks.

What has become absolutely clear these past few weeks is that John McCain has absolutely no idea how to steer this country out of its current financial problems. His call this week to cut capital gains tax in half is ridiculous. First of all, the only individuals with any capital gains these days are the incredibly rich. Second, such a plan would only put this country further in debt.

I did like his idea to eliminate the income tax on unemployment benefits for the next two years, but I wished he had supported, like Obama has, extending these benefits. His homeowner rescue plan also burdens taxpayers by forcing us to purchase these loans at prices higher than the values of the homes. Obama, on the other hand, would force bankruptcy judges to adjust mortgage values before they are sold.

Obama's plans to put a 90-day moratorium on foreclosures, to raise the minimum wage and tie it to inflation and provide more money for state and local budgets, are ways to help those who really need it. McCain's plan, on the other hand, to make permanent Bush's tax cuts, only helps the top 1 percent of Americans.

And what program did McCain outline last night to create jobs? It was to use “tax cuts that are directed specifically to create jobs.” Exactly the same theory employed by George Bush and there are a lot of us out there waiting for those "benefits" to trickle down to us.

McCain just can't say he's not George Bush. He's got to prove it and so far, when it comes to the economy that is the No. 1 issue today, he has not done so.

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