From The Huffington Post
By Jared Bernstein

About a year ago, I had a memorable chat with a high-ranking Republican operative. The presidential primaries were revving up, and he asked me which Republican candidate I feared the most. Without hesitating, I answered McCain.

My rationale was simple. While he was increasingly out-of-step with the public on the war, so were all the other Republican candidates. But unlike them, McCain had repeatedly stood up to his party on matters economic, especially the Bush tax cuts, and he did so with resonant language.

In 2001, when the richest one percent of households held 18% of all income, he said he could not “in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans.”

In 2003, when we had gone through a recession, were waging an expensive war, and the federal budget had flipped from surplus to deficit, he voted against another round of tax cuts for the wealthiest, this time arguing that “At a time of war, at a time of economic stagnation, at a time of rising national debt…one might expect our national leaders to pursue policies calling for shared sacrifice to achieve shared benefits. Regrettably, that is not the case.”

The most recent data show that in 2006, 23% of all income is held by the richest 1%, the highest level on record but for one year: 1928. Spending on the war has not abated, and the budget deficit is on the rise. Middle-class Americans, who allegedly weighed so heavily on McCain’s conscience circa 2001, are much more squeezed now than they were then.

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