Obama now has a 6% lead (50% vs. McCain's 44%), mountains upon mountains of money, advertising spending at a 4:1 ratio compared to McCain, the endorsement of Colin Powell and Warren Buffet, a constant message of change and hope, and the often cited "steadiness" which on the side some wonder about a dullness or lack of passion but mostly it is read as confidence. Powell's opinion has been swayed by the current economic climate. So is Obama's economic plan sound? The Wall Street Journal and Investors Business Daily have both argue against his increase in the capital gains tax from 15% to 28% which would hit those who own stock. This was said in his debate in April but even now Obama is consistent with his plan to increase the capital gains tax for the sake of "fairness."
This is despite the fact that government revenue from taxes increased every time capital gains tax was cut and decreased when it was raised. It suggests that Obama still has much to learn about economics and that he is willing to stick with an ideology despite the evidence being pointed out to him. Either candidates will need to draw on a strong economic partners if they are to carry us through these hard times.
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