McCain's big "economic rollout" is for investors?
Too long to excerpt, but the WSJblog has some campaign supplied bits on McCain's new economic policies to be rolled out today, and, maybe I'm wrong, but isn't it almost all the new stuff for stock market investors only? (targeting seniors?)
posted by mikevotes at
8:22 AM
5 Comments:
I'm not sure how it plays for the general public, but for anyone who follows the daily grind, McCain is just losing it with his "I have a plan!" du jour thing. It's to the point that if he even mentions the economy, people interrupt him an say, "You know what? Don't. Just stop."
The very mention of the economy by the McCain campaign only serves to remind us that he's totally, completely in over his head on this.
By
-epm, at 8:37 AM
Yeah, definitely. His credibility has been shot, primarily by his own campaign's tactics. See the next post.
And, I agree. I don't think people are even listening to what he says anymore, and he doesn't have the money to drive message through TV.
By
mikevotes, at 8:40 AM
From an economic perspective, the capital gains is a joke. Some people will benefit but it essentially is a giveaway for people with more money.
The seniors plan is very short sighted. Let seniors pull more money now and spend it. What about later?
And this is supposed to come out of the $700 Billion? Really bad idea. Instead of buying (albeit somewhat overvalued) assets, just give the money away to investors and to encourage seniors to spend what is left of their retirement accounts now.
Finally, if your retirement account has just taken a beating, does it make sense to draw more now?
By
Praguetwin, at 11:56 AM
Lately, every time I hear anything from the McCain camp -- and I mean anything -- I find myself slipping into my Seth Meyers impersonation.... "Really? So even though most Americans have no capital gains income, cutting the capital gains tax will boost help them? Really?"
By
-epm, at 12:49 PM
First, the McCain camp is somewhat explicitly saying it's a plan targeting seniors (in battleground states, Fla, Pa.) Nothing like shaping your economic policy in a crisis based on political imperatives.
Praguetwin, yeah. The cap gains will not sell. Anything branded a Repub standard will not sell.
And I think McCain keeps "dipping into" that $700 billion because he has not other way to explain his sudden taste for extreme spending (other than buying votes.)
,,,,,
EPM, yeah, the credibility has been shot. He has less than three weeks to try and get that back, for any of these economic proposals to politically work.
Plus, that assumes the press doesn't cover it as a political stunt.
McCain is acting "outside his brand" on these proposals which makes them a verty hard sell.
By
mikevotes, at 1:45 PM
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