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1:58 PM, Aug 25, 2008 • By MATTHEW CONTINETTI

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In 2006 Americans enjoyed their first rise in average income since 2000. The problem is that inflation threatens to wipe out these fragile and slight gains.

Obama's tax plan features a middle class tax cut (while raising taxes on more or less everyone and everything else). McCain wants broad-based tax reduction, but so far lacks a middle-class tax plan that could counter Obama's. This is a weakness in his candidacy, and one that he would be wise to address at next week's GOP convention in St. Paul.

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