THE BLOG
11/18/2008 05:12 am ET Updated May 25, 2011

McCain/Palin: Economics 101

The McCain camp's latest tactic is to insinuate that Obama's plan to raise taxes only for people making over $250,000 "sounds a lot like socialism."

Fast rewind to ten days ago or so when McCain flew back to the Senate to vote in favor of the government bailout of Wall Street arguing only that legislators should change the name from bailout to "rescue."

Joe the Plumber's starring role was to woo the red states by implying that the Democrats are a bunch of Reds, and if there is any more mention of "socialist" from McCain, or his sidekick Palin, another Joe will have to be called back to active combat duty -- Joe McCarthy!

Notably, the Republican nominee for president also endorses infusing $250 billion of the proposed $700 billion bailout money into the nation's troubled banks, and doesn't, for a moment, consider that "another government giveaway."

Economics 101 according to John McCain: raising taxes on those who are in the upper 2% of the population is "socialism;" nationalizing banks isn't.

Sen. McCain is right -- rescue will be in order should we awake, November 5th, to find not just our military, but our economy, in his inept hands.