Apparently after the debate in PA, not a single one of Obama’s advisers had the guts to teach him a few things or have him memorize a few quotes that might make sense as it concerns the capital gains tax.
OBAMA: Well, but what I’ve said is, I certainly would not raise it higher than it was under Ronald Reagan. But the fact is, is that I’m mindful that we’ve got to keep our capital gains tax to a point where we can actually get more revenue.
But that’s not something that’s going to affect the average person with a 401(k). When people start talking about how, well, there are millions of Americans who own stock, most of them own stock in 401(k)s that — where their taxes are deferred and they pay ordinary income taxes when they finally cash out.
He certainly is not the guy to be telling us how Mr. McCain is no economist!!