If the guy who writes McCain’s economic policy says McCain will have to increase taxes, then why is McCain saying differently?
In a forthcoming book by Fortune columnist Matt Miller, The Tyranny of Dead Ideas, Sen. John McCain’s chief economic adviser, Douglas Holtz-Eakin, “makes it clear that the next President is going to have to raise taxes,” according to Joe Klein.
Said Holtz-Eakin: “If you do nothing on the spending side, you’re going to have to raise taxes whether you’re a Republican, a Democrat or a Martian.”
He then immediately makes it clear that the “spending side” part of the argument for cutting taxes is “nothing more than a political fig-leaf” covering up basic arithmetic. The growth of entitlement programs and spiraling health costs make it nearly impossible to cut spending for McCain’s proposed tax cuts.
When asked why tax cutting remains the central theme of Republican campaigns, Holz-Eakin said, “It’s the brand, and you don’t dilute the brand.”
You would think that this would be something that Obama’s campaign would nail McCain on over and over again? But alas…