The Conservative Revolution

It looks like the economy is going to be the biggest issue this election cycle. And the two presidential candidates couldn’t be farther apart when it comes to taxes, spending and regulation. Barack Obama offers hundreds of billions of dollars in more government, higher taxes and less freedom. He is promising the world to the American people, and is determined to make them pay for it.

John McCain, while not my preferred Republican candidate, is a spending hawk and is vowing to cut tax rates, encourage freer trade and follow a basic supply-side economics policy that will ensure long-term economic growth.

Perry Bacon of The Washington Post outlines a few more of the specifics from each candidate.

Speaking to a group of small-business owners in the District, McCain (R-Ariz.) pushed an agenda that emphasizes reduced regulation and long-term economic growth through cuts in corporate taxes, expanded free trade agreements and cuts in government spending…

And on Obama…

To pay for his plans, Obama would raise a variety of taxes, including increasing the capital gains rate to 20 percent, increasing taxes for families with incomes over $250,000 and raising the cap on taxing Social Security income, now set at $102,000, by taxing income over $250,000.

This election will be about a choice between higher taxes, more government and less freedom and lower taxes, less government and more freedom. Where the American people want to go is a question that will be answered in November.

My boss Dick Armey has penned a column for Real Clear Politics that contains advice for John McCain. Hopefully his economic advisers are paying attention.

Sen. McCain has already proved his willingness to take bold free-market stances. His attacks on earmarks, despite ambivalence from party leadership, have shown him to be a leader in the fight against government waste. Who else would campaign against ethanol subsidies while in Iowa? Meanwhile, few have defended free trade as ardently as McCain, even as public support for open trade dwindles. Whatever criticisms some might have of the man, no one could say he lacks political courage.