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Iowa caucus results increase nervousness among establishment financial types, who favor former private equity whiz Mitt Romney on the Republican side and Hillary on the Democratic ticket. Al Gore and John Kerry got absolutely no traction talking about raising taxes on the rich, but the early 2008 winners — Obama, Huckabee, and even John Edwards — make hay by implicitly countering Wall Street dogma for making permanent Bush style tax cuts and cutting corporate taxes further. People in the downtrodden heartland at least raise hackles over the growing inequity between payouts to private equity barons/corporate chieftains and the rank and file. Stoked by the Huckabees and Edwards, voters finally wake up to the idea that the deck may be stacked against them, especially in the souring economy. It wouldn’t surprise if John McCain starts reminding people that initially he had voted against Bush tax cuts.

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