On paper, McCain presents the type of economic program The Times has repeatedly backed: One that would ease the tax burden on business and other high earners most likely to invest in the economy and hire new workers.I never understand this. Why is it that only rich people's money creates jobs and investment? Money is fungible. If you're middle-class -- or, frankly, any-class -- and you get a tax break, you're going to either (1) spend the money on, say, soap, which will increase soap demand and create jobs in the soap industry, (2) put it in savings, which will funnel though your bank into investment firms that invest in small and large businesses, or (3) pay off debt, which again puts more money in the hands of banks and credit bureaus, enabling them to either invest the money or loan it back out again to people starting companies, etc.
Am I missing something?