Tuesday, October 14, 2008

Middle Class Education

One of Reagan's most incredible feats was convincing the American middle class to vote in favor of tax cuts for the richest Americans. Call it trickle down, call it "aspirational voting," call it whatever, but it worked, and throughout the Reagan, Bush, Clinton, and Bush W. years, the American middle class held onto the fictions that (a) many of them would one day be rich, so why not just go ahead and cut taxes on that bracket, now?, and (b) wealthy Americans would take their tax cut money, and spend it on crap that would generate American jobs. But now, despite all the tax-and-spend-liberal mud that McCain and Palin sling at Obama, Obama leads McCain in the polls on this most important of issues. Given Obama's slim, slim record on the economy, one has to give credit to the market drop, and not Obama (or the Democrats) for this one. (Set aside, for the moment, the fact that the real issue is goverment spending, and both parties have shown themselves incapable of reigning it in.)