The Economy & Bailout:

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October 17, 2008
The Economy & Bailout: What the candidates and the economists think. What do YOU think?

This week the McCain campaign put out another "economic recovery" plan, that appears to push policies that will not benefit the middle-class at all. In fact, in a deceptive move, McCain is slipping in a policy that the Republicans have been trying to pass for years with no success. John McCain is claiming that capitol gains taxes need to be cut in half to help the economy. What? Maybe you think that's no big deal, because most people haven't made any capitol gains this year? Well, for one, if anyone did make capitol gains this year, they are the very rich (maybe even some of the same people that contributed to this mess). And, two, the economy will recover, and this is just another tax break for the rich, this will not help the middle-class one bit...Unless, you are still buying the whole trickle down thing.

What about the Bailout?

From The Washington Post- Smaller Banks Resist Federal Cash Infusions...

Community banking executives around the country responded with anger yesterday to the Bush administration's strategy of investing $250 billion in financial firms, saying they don't need the money, resent the intrusion and feel it's unfair to rescue companies from their own mistakes.

"But I'd urge Congress to pause for a minute, take a deep breath, and try to seriously rework the structure of the plan, making it a plan that addresses the real problem. . . . [I]f this plan goes through in anything like its current form, we'll all be very sorry in the not-too-distant future."

Posted by Catherine Morgan on the Election2008 Blog on 10/17/08
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