The Post tells us that: "the argument over the housing crisis illustrates broader differences in economic philosophy between McCain and his Democratic rivals." The article continues: "on taxes, McCain has reversed his opposition to President Bush's 2001 tax plan and now supports making the cuts permanent." So, Senator McCain must have had a philosophical conversion after his 2001 votes, realizing that low tax rates for the wealthy are the basis for economic growth. Of course, there is an alternative possibility. Tax cuts for the wealthy are near and dear to the Republican funders who are essential to getting the Republican nomination. It's possible that Senator McCain decided that he better change his views on tax cuts, if he is going to win the Republican nomination. I wouldn't be so cynical as to suggest that Senator McCain would abandon his economic philosophy for political advantage, but maybe we shouldn't rule out this possibility. How about if the Post just reported the politicians' statements and positions on issues and spare us the speculation on their "economic philosophy?"
--Dean Baker
