Let's stipulate that this is one of the main things I will never understand: the McCain campaign. Today's move has me absolutely baffled. I'm talking about the 401k fandango: the idea that people with 401ks ought to be able to defer drawdown on their pension funds. Two points:
- As a solvent guy with no immediate need for my pension pot, I think this is a nice little early Christmas gift.
- As a campaign measure, it's absolutely daffy.
Here's Senator McCain: My friends (sic), we live in troubled times. And I feel your pain; I know what's worrying you. You're lying awake nights worried that you'll have too much money to spend next year. Well, worry no more my friends; SuperMcCain to the rescue--thanks to my new 401k program, you won't have the burden of extra cash to spend; you'll be able to let it sit and fester away in your mouldy old 401k.
Okay, I made that up. And like I say, as a guy with a steady income and a pension fund, I think the idea is really cool (actually, I think the whole deferred-tax fandango is terrible public policy, but leave that for another day). My question--my bafflement-- today is: am I really the market niche who needs special favors in order to be induced to vote for McCain? I think the question answers itself; I can't imagine who is making this stuff up.
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