As the stock market continues to crash at historic rates, John McCain refuses to talk substantively about the issues that are most affecting American families. His lack of a coherent response to the economic crisis shows once again just how out of touch he is with the economic issues that concern the average American.
John McCain supports tax cuts for millionaires, but provides no relief for 100 million middle-class Americans. He has repeatedly said that the Bush tax cuts for the rich must be made permanent and even expanded. As CNNMoney.com has reported, ‘President Bush’s tax cuts for investment income have significantly lowered the tax burden on the richest Americans.’ Unfortunately it has done next to nothing for everyone else.
McCain’s economic plans, like Bush’s, put CEOs, multibillion dollar corporations, and lobbyists before the interests of American families. His stated plans do more for the Fortune 200, who would get $45 billion in tax cuts, than they for families struggling just to get by. As a result of McCain’s policies, Big Oil would receive nearly $4 billion in tax breaks. He makes this proposal at a time when average Americans have been getting gouged at the pumps and are worrying about heating their homes this winter.
As we have continued to fall deeper into a time of economic crisis, John McCain’s responses have been all over the map lacking direction, consistency or even common sense. One can’t really blame him for his total disarray on economic policy because he has been a big supporter of the Bush policies that have brought us to this point in the first place. Deregulation and tax cuts for the rich have been the keys to John McCain’s economic policy, and now that those approaches have failed, he seems to be scrambling around for direction.
No wonder one of his top aides has declared that they must stop talking about the economic crisis. Perhaps that is why we have been left with some of the sleaziest and most shallow campaigning in recent times. That approach may satisfy the increasingly rabid crowds at McCain rally’s, but it does absolutely nothing for the average citizen or for an economy that has plunged to historic depths.