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Obama would "raise taxes," but McCain's own economic advisor Douglas Holtz-Eakin said last month that Obama's plan was a net tax cut for most Americans...
...McCain has acknowledged some of these problems - especially the need for a new energy policy - but he doesn't seem to have a comprehensive strategy. (McCain's economic adviser Douglas Holtz-Eakin didn't respond to my calls.) McCain's energy answers are often traditional - drilling for oil offshore, building new nuclear-power plants - and occasionally courageous. To the dismay of most Republicans, he supports a cap-and-trade program to limit carbon emissions, although the candidate himself seems not to fully understand that a hidden carbon tax is involved. McCain's opposition to disgraceful boondoggles like the farm bill...
...Seems clear enough, right? You already know the old argument: Republicans cut taxes, Democrats raise them. Except it's not true, at least not in the way that it seems. But don't take my word for it. Here is Douglas Holtz-Eakin, McCain's chief economic policy adviser. "I used to say that Barack Obama raises taxes and John McCain cuts them, and I was convinced," he told me in a phone interview this week. "I stand corrected [about Obama's plans...
...says he would tackle with gusto once in office. But the details of those spending cuts are mostly, once again, in the sound-bite stage. McCain has promised "comprehensive spending controls," "across-the-board scrutiny" and a bipartisan congressional commission to chop up spending. The goal, says Holtz-Eakin, is to return to the fiscal discipline of the late 1990s, when then President Bill Clinton struck a deal with a Republican Congress to limit spending increases. "People write [new spending] initiatives like they get out of bed these days," says the adviser...
...original version of this story contained a quote by John McCain's economics adviser, Douglas Holtz-Eakin, that some have misinterpreted as suggesting that McCain is not really a tax cutter. The quote has been amended to make clear that when Holtz-Eakin said "I stand corrected," he was referring to his previous statements that Obama raises taxes, not that McCain cuts them...