McCain's Newest Plan

John McCain is planning to release his newest plan to aid the suffering middle class sometime today.

Not surprisingly, his plan will benefit the rich far more than the struggling middle class who are the focus of Barack Obama's plan. McCain will offer to cut the capital gains tax on stock profits in half, from 15 percent now on stocks held a year or longer to 7.5 percent — a $10 billion proposal.

How will that benefit the middle class, as his campaign promised this past weekend? Umm...

Households earning less than $50,000 a year collected a mere 2.5 percent of capital gains in 2005, according to the Tax Policy Center. Families earning more than $1 million a year collected 59 percent of capital gains. Moreover, most middle-class families with capital gains hold their investments in retirement accounts shielded against capital gains taxes.

Sounds like more of the same to me.