Could the economic news be more depressing? The stock market is at its lowest in five years. This is giving my husband anxiety, and the thought of Barack Obama trying to implement his spending proposals and consequent tax increases on the people who provide the jobs only deepens the nausea.
It's in this climate that we await the debate tonight. Barack got points (and his echo, Joe Biden, repeated the trick) when he stared into the TV camera at the first debate and swore that "Under my tax plan NINETY-FIVE PERCENT OF YOU would get a tax cut!" The other five percent, the obscene filthy rich who of course need to be coerced under threat of imprisonment to part with any of the loot they hoarde, clearly owe their underlings a further chunk of their earnings.
Now, 40% of the population pays NO income tax, so giving them a "cut" would mean a gift from the eeeevil wealthy 5% in the form of a government check. And the vast majority--70% to be exact--of that 5% are owners of small businesses. You know, like the corner laundry, the neighborhood restauranteur, the quick-print store where you get your xeroxing done--these are the guys who would be taxed more, WAY more than the at LEAST 35% they already pay. That will really stimulate the economy, because then these guys will be unable to expand and create more jobs. Make sense?
I'm really nervous. Tonight I'll be watching the debate hoping John McCain explains why his approach--lowering taxes on business--trumps the tax business plan of Obama. It's a hard sell to those 40% who pay nothing and would get free money. McCain has to show how it's a small consolation when stocks and jobs suffer as a result.