Here's a dog-bites-man story for you. Guess what the Wall Street Journal editorial board thinks is the solution to the financial crisis and the looming recession? More tax cuts!
What the economy really needs is a big pro-growth tax cut, the kind that will restore confidence and risk-taking. This is an opportunity for both candidates, but especially for Mr. McCain. Instead of focusing on an extension of the Bush tax cuts, the Arizonan should offer his own tax cut to revive capital markets and prevent a recession. Democrats will claim he's helping "the rich," but our guess is that every American who owns a 401(k) will figure he's one of those "rich."
Has there ever been a circumstance when the Journal wouldn't recommend a tax cut?