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McCain Leads on the Economy With 5 Days Left

9:57 AM, Oct 30, 2008 • By MARY KATHARINE HAM
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This has got to worry Team Obama:

After several weeks of John McCain's campaign attacks on Barack Obama's tax plan and idea of "spreading the wealth around", the latest Rasmussen Reports national telephone survey finds voters trust McCain more than Obama on taxes, 47% to 45%.

Two weeks ago, Obama had a one point-advantage on the issue of taxes and a month ago, he had a three-point edge. The last time McCain had the advantage on this issue was September 14, just before the collapse of Lehman Brothers started the meltdown on Wall Street.

One month ago, Obama was up nine points on this crucial issue. McCain continues to outperform the generic Republican ticket by a longshot, and while Obama leads in six of ten top issues for Americans, Obama led in all 10 last month.

Now that McCain has a resonant message in Joe the Plumber's plight, is finally matching Obama ad-for-ad in battlegrounds, and Biden has just lowered the Obama campaign's "wealthy" mark to $150,000, it's a mighty good time for things to be looking up for him.

More on the moving target that is the $250,000 threshold for the Obama campaign's tax hikes. The Wall Street Journal reminds, "Just as Bill Clinton promised a 'middle-class tax cut' in 1992 only to raise taxes on the middle class in 1993, Mr. Obama will quickly find that his tax-revenue math doesn't add up. Add in the demands on Capitol Hill to spend more and to offset the Alternative Minimum Tax, and our bet is that even $150,000 would soon prove to be a moving tax target. Remember when the AMT was only supposed to hit 21 millionaires? Next year, without relief, it could hit 26 million taxpayers. Tax increases always hit the middle class because that's where the money is."

Voters are rightfully wary.