McCain claims that Obama is a socialist for wanting to give refundable tax cuts to people who do not pay federal income taxes. Such a program already is a part of federal tax law and has been for many years. It is usually referred to as the "Earned Income Tax Credit" or the EITC. It was greatly expanded while Reagan was in office and Reagan called it:
the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress.
http://www.prospect.org/cs/articles?articleId=11204I think that if Obama, or some surrogates, started talking about Reagan's strong support for what Obama wants to do it would absolutely knock McCain on his ass.
I have never been a fan of Reagan, but he was well liked by many Americans, and a lot of those people voted for Reagan as "Reagan democrats." I don't know whether any "Reagan democrats" might vote for Obama because of this line of argument, but I do think it would make McCain scramble to try and explain why Reagan was not a socialist but Obama is for proposing something that Reagan supported so strongly. Having to try and explain this would weaken McCain.
One final aspect to this is that I am sick to death of hearing the republican Tax Cut Monkeys flinging feces about Kennedy's tax cuts and how great they were for the economy. I would like to fling a little Reagan feces back in their faces.