In yet another attempt to jump-start his campaign, it appears that Sen. John McCain is poised to offer more help to our beleagured wealthiest citizens. This is stock Republicanism.
The two men will debate Wednesday at Hofstra University on Long Island, N.Y. CBS News anchor Bob Schieffer will moderate the 90-minute forum. Still, McCain promised to run a "respectful" campaign in the weeks to come. "I respect Senator Obama, we will conduct a respectful race and be sure everyone else does too. But there are stark difference between us," McCain said. On Sunday, Sen. Lindsey Graham, R-S.C., a top adviser to McCain, said the presidential candidate was considering a reduction in taxes on investments, including a possible cut in the capital gains tax. But campaign spokesman Tucker Bounds said McCain would not announce any specific proposals during campaign stops Monday in Virginia, North Carolina and Pennsylvania. He added, "We will likely have further proposals this week as economic news and conditions change." Graham, on CBS News' Face the Nation said the GOP candidate was considering policy proposals that would cut taxes on investments. "I think it goes along the lines of now's the time to lower tax rates for investors, capital gains tax, dividend tax rates, to make sure that we can get the economy jump-started," Graham said on CBS' "Face the Nation." "It will be a very comprehensive approach to jump-start the economy by allowing capital to be formed easier in America by lowering taxes." McCain already has laid out proposals to address the crisis, including a $300 billion plan for the federal government to buy distressed mortgages and renegotiate them at a reduced price.
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