The Tax Cut Flop

Jonathan Weisman profiles John McCain's tax cut flip-floppery. It seems worth adding a few points here for context. One is that the sum of money involved is enormous -- this isn't some small point of detail, but a fundamental, really large public policy issue. The other is that McCain hasn't made any real effort to explain himself, he's just misportrayed his past position and sent Doug Holt-Eakin out to say things like "He's looking forward, not back."

And that's great -- a campaign should focus on the future. But still, we're normally interested in understanding the thinking of our candidates for public office. When a candidate can't explain a change of position, it's usually just that he doesn't really give a damn about the underlying question so figured he should blow with the wind. And so far as that goes, fine -- I don't really care if McCain has flip-flopped on tobacco regulations or not. But what we're seeing here is that McCain takes a devil may care attitude to the largest macroeconomic policy decisions the president faces.

Comments

Weissman actually doesn't do a great job covering the policy aspects of McCain's chicanery. He relies too much on the, "McCain supporters say 2 + 2 is 5, critics disagree," school of journalism. A better headline might be "McCain Can't Add."

Posted by AJ | April 25, 2008 11:23 AM

Here is McCain's real problem on this.

On the one hand he can reprise his 2001 stand, being against the tax cuts which would kill him with the Republican base.

On the other hand he can explain his reversal based upon how the tax cuts have caused us to have a positive, growing economy, which drives away all those people who are actually living in the real world.

Damned if he does and damned if he doesn't.

Posted by john m | April 25, 2008 11:35 AM

McCain brought up 401(k) plans when discussing capital gains. That says all you need to know about his lack of fiscal knowledge.

I'd also like to know where he got his oft repeated figure that 100 million people would be impacted by the capital gains tax. Is he simply counting everybody who owns anything that might appreciate?

Posted by LFC | April 25, 2008 11:39 AM

Here is McCain's real problem on this.

On the one hand he can reprise his 2001 stand, being against the tax cuts which would kill him with the Republican base.

On the other hand he can explain his reversal based upon how the tax cuts have caused us to have a positive, growing economy, which drives away all those people who are actually living in the real world.

Damned if he does and damned if he doesn't.

Posted by john m | April 25, 2008 11:41 AM

John M:

Hasn't McCain gripped the third hand and said that rescinding the Bush tax cuts would amount to a tax increase that would paralyze the economy during a time of recession (although he didn't use the R word)? This appears to have appeased the Norquist base while providing critics with some kind of logic for his actions. The logic isn't great, but you don't need to have sound logic, just some kind of calculus that reporters can present as one version of a contested truth-see AJ's post above.

Posted by Unreal Veal | April 25, 2008 11:50 AM

McCain is pandering to the GOP base, pure and simple. He's pulling a Bush. "Economy good? TAX CUTS! Economy bad? TAX CUTS!" Life is so much easier when you know the answer, no matter what the facts are on the ground.

Posted by LFC | April 25, 2008 12:07 PM

This and immigration are McCain's biggest weaknesses when it comes to his relationship with the GOP base. They see him as a traitor, because one never goes against the family on tax cuts. Ever.

They forgiven him for now. But I think McCain's flip-flopping on tax cuts and his previous vote against the Bush tax cuts are still a festering wound for most GOPers.

And I can't wait to dig my finger in that wound over and over and over again for the next six months. They don't like McCain in their core. And even though the GOPers are masters of cognitive dissonance, they won't like to be reminded about McCain's dislike for tax cuts just a few years back.

I see a 527 group on the horizon; "Tax Cutting Conservatives for Truth"

Posted by afferent input | April 25, 2008 12:20 PM

I see a 527 group on the horizon; "Tax Cutting Conservatives for Truth"

I can see why one might expect this. Ron Paul did well in PA, as did Huckabee. McCain's base support is suspect. That said, I find it hard to believe that this kind of ad will air.

These people get in line. They might not rush out the door to back McCain, but they'll stay loyal, especially if Norquist keeps winking. Do you think they'll vote for Hillary, wife of anti-Christ? Obama, Muslim mole? No way. The best you can hope for is that some of them stay home, and they probably won't once they come to believe--if they already don't--that the other side is in league with the devil.

This post sounds bitter and defeatist. I can't help myself. Help!

Posted by Unreal Veal | April 25, 2008 12:45 PM