Brad DeLong on the latest failing of our media:
You remember Paul Krugman's joke--that if Bush said the world was flat, reporters would write "opinions on shape of earth differ"?
Now we have Mike Allen and Jonathan Martin of the Politico encountering McCain saying "the earth is flat." And what do they do? They agree:Capital gains and dividend tax cuts are simply not "economic measures aimed directly at the middle class": the middle class doesn't collect capital gains, or dividends, in any material amount. Indeed, that's what makes you middle class--that even though you have a fair or a good income you work for it.Exclusive: McCain to unveil more economic policies - Mike Allen and Jonathan Martin: As part of a plan to reinvigorate his flagging campaign, Sen. John McCain (R-Ariz.) is considering additional economic measures aimed directly at the middle class that are likely to be rolled out this week, campaign officials said. Among the measures being considered are tax cuts – perhaps temporary – for capital gains and dividends, the officials said...
But there is not even a token "some Democrats say that dividend and capital gains tax cuts have no direct effect on the middle class" in the story. McCain says the earth is flat--and the reporters swallow it whole.
The capitulation of the press this campaign season is awfully depressing. At this point the blogosphere -- both liberal and conservative -- is necessary for filling in the gaps in the stories reported by the MSM.
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