Thread: McCain seen as best choice for economy

The investment community supports McCain as the best candidate for the economy.

By Jennifer Ablan
NEW YORK (Reuters) - Republican presidential candidate John McCain's tax policies have given him an edge as the better man for the economy, various Wall Street experts said at this week's Reuters Investment Outlook Summit.
But, against a backdrop of job losses and deteriorating home values, Wall Street is backing McCain's Democratic rival, Barack Obama with cold, hard cash.
McCain plans to extend the Bush administration's tax cuts, eliminate the Alternative Minimum Tax, and slash corporate taxes. Obama, who has derided the Arizona senator's plans, has pledged to raise taxes on the wealthy and introduce a broad range of refundable tax credits.
"My personal opinion is I would argue that McCain is probably the better candidate for the economy and that is more or less because of his tax policies," James Caron, head of global rates research at investment bank Morgan Stanley in New York, said at the Reuters Summit this week.
"In this environment that we're in right now, the last thing you want to have is higher taxes and taking money out of the consumers' pockets," he added.
David Bianco, chief U.S. strategist at UBS Investment Research, told the summit that Wall Street would welcome McCain with open arms. "My view is that McCain is better for the market," Bianco said.

McCain seen as best choice for economy | Politics | Reuters

The headline is grammatically incorrect. It should read "better" rather than "best" since they're only comparing McCain to Obama, which doesn't say much.

McCain himself is clueless on economics, but his campaign does a good job at advertising.

Originally Posted by Defensor

The headline is grammatically incorrect. It should read "better" rather than "best" since they're only comparing McCain to Obama, which doesn't say much.

McCain himself is clueless on economics, but his campaign does a good job at advertising.

Interesting, but you haven't refuted any of the opinions offered by the investment community that McCain is the better choice for the economy. Simply saying that McCain is "clueless" is no argument.

Originally Posted by Bourne

Interesting, but you haven't refuted any of the opinions offered by the investment community that McCain is the better choice for the economy. Simply saying that McCain is "clueless" is no argument.

The only argument they use is that Obama will raise taxes more. McCain made a few promises to cut taxes which may or may not happen. (Never mind the fact that McCain was firmly against the Bush tax cuts up until this election season. )

Certainly there is nobody with functioning brain cells who is actually excited over McCain's economic 'policy'.

"My personal opinion is I would argue that McCain is probably the better candidate for the economy and that is more or less because of his tax policies," James Caron, head of global rates research at investment bank Morgan Stanley in New York, said at the Reuters Summit this week.

That's strange. Robert Greenstein of the Center on Budget and Policy Priorities called Mccain's proposals "one of the most fiscally irresponsible plans we've seen by a presidential candidate in a long time."

I've seen many of the economic question put to him and he doesn't seem to have a clue.

Uhh, since when has WallStreet NOT supported a Republican?

Originally Posted by Bourne

Interesting, but you haven't refuted any of the opinions offered by the investment community that McCain is the better choice for the economy. Simply saying that McCain is "clueless" is no argument.

Who cares? He is a shitbag and as much as I loathe Obama, I hope McCain loses, and loses bad. I want to send a message to the STUPID REPUBLICAN party that they CANNOT win w/o the conservative vote. PERIOD.

His tax policies are a joke, he said the other day that he was going to raise corporate taxes and in doing so the lower taxes would create jobs. I read it for about 5 minutes thinking that I missed something, I didn't, but I did get a chuckle and a head ache at the same time. It is all on a tread here somewhere.

Originally Posted by Zarathustra

Uhh, since when has WallStreet NOT supported a Republican?

Ya, pretty much. Especially when Obama wants to raise the capital gains tax even low history has shown lowering them increases revenue.

The argument here isn't that McCain is the best economist, the argument is that of the two candidates, according to the investment community, McCain is the best choice for the economy.