W Post: McCain Offers Tax Policies He Once Opposed

[Omaha Steve]

http://www.washingtonpost.com/wp-dyn/content/article/2008/04/24/AR2008042403456_pf.html

Reversal Includes New Support for Bush Cuts

By Jonathan Weisman
Washington Post Staff Writer
Friday, April 25, 2008; A01

On May 26, 2001, after then-Sen. Lincoln D. Chafee (R.I.) cast his vote against President Bush's $1.35 trillion tax cut, he trudged back to his office, convinced, he recalled, that he had been the lone Republican to oppose the largest tax cut in two decades.

But Chafee's staff told him that one other Republican, who had largely avoided the grueling efforts at compromise, had joined him in dissent. That senator, John McCain, was marching to his own beat, Chafee said, impervious to pressure from either side.

Now that he is the presumptive Republican presidential nominee, however, McCain is marching straight down the party line. The economic package he has laid out embraces many of the tax policies he once decried: extending Bush's tax cuts he voted against, offering investment tax breaks he once believed would have little economic benefit and granting the long-held wishes of tax lobbyists he has often mocked.

McCain's concerns -- about budget deficits, unanticipated defense costs, an Iraq war that would be longer and more costly than advertised -- have proved eerily prescient, usually a plus for politicians who are quick to say they were right when others were wrong. Yet McCain appears determined to leave such predictions behind.

"He's looking forward, not back," said Douglas Holtz-Eakin, McCain's senior policy adviser.

To supporters, McCain has simply seen the light and now understands the power that business tax relief has to spur economic growth and innovation. Said J.D. Foster, a former Bush White House and Treasury tax policy expert, now at the Heritage Foundation: "It's logical that he wouldn't be repeating the arguments he made then. We all learn from experience."

FULL story at link.

[Supersedeas]

1. discussion of policy is strictly forbidden -- back to Rev Wright