Obama Weighs in on McCain Economic Proposals
By Shailagh Murray
TOLEDO, Ohio -- Sen. Barack Obama gave a mixed review to Sen. John McCain's new economic plan.
"I think the idea of making sure that people aren't forced to sell their 401(k) or IRA accounts at the age of 70 when the market is in the tank, I think that makes sense," Obama said, referring to one measure the GOP nominee is backing, a version of which Obama also had endorsed.
But McCain's proposal to cut the capital gains for two years didn't make much sense to the Democratic nominee. "Nobody really has capital gains right now," Obama told reporters during a brief press conference. "So if the idea is to cut capital gains taxes, when I don't know anybody, even the smartest investors who right now are going to be experiencing a lot of capital gains, that probably is not going to be particularly useful in solving the financial crisis."
But, he added, "I'm sure that Senator McCain will have more to say about it tomorrow," when the two candidates meet for their final debate.
Posted at 5:00 PM ET on Oct 14, 2008
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