There’s a lot of interest in the California midterm elections because of two well-known business ladies, Meg Whitman (former-CEO of eBay) and Carly Fiorina (former-CEO of Hewlett-Packard). Of course, California’s economy and fiscal position are in a death march. All kinds of capitalists and entrepreneurs are running away from the state’s high taxes and overregulations. (Among other palaces, they’re headed to Texas.) But Whitman and Fiorina -- because they are women and former big-business honchos -- lend some glamour and renewed interest to California Republicans.

I have not interviewed Carly Fiorina recently -- that’s on the schedule. (Fiorina hopes to beat Barbara Boxer in the U.S. Senate race.) But I did interview Meg Whitman, along with her Republican gubernatorial primary opponent, Steve Poizner, a statewide-elected GOP official who is himself a very wealthy and successful high-tech entrepreneur.

Being of relatively sound mind and chock full of sense and sensibility, I am not taking a position on the Whitman-Poizner primary. But I will say this: Mr. Poizner has a very strong, across-the-board, 10 percent tax-ratereduction plan for personal income, sales taxes, and business taxes, and a 50 percent reduction plan for the state’s capital-gains tax. He cited Arthur Laffer in my interview with him, and essentially declared himself a progrowth supply-sider. 

Ms. Whitman was vague on tax policy. When asked if she would support a 5 to 6 percent flat-tax rate, she said she’d look at it. But her top priority is to cut state spending -- a very important mission. She wants to lower taxes down the road, but nothing specific yet. 

Both Whitman and Poizner favor heavy use of the governor’s lineitem veto, and both want tort reform to reduce business costs. Ms. Whitman would somewhat roll back California’s onerous cap-and-trade policy, while Poizner would freeze the whole plan. 

Most observers believe Meg Whitman has the greater star power in the race. However, both candidates are going to spend a lot of money. As I said, I’m not choosing sides right now. But it was interesting to hear Mr. Poizner’s almost pure, supply-side, Laffer Curve-driven, tax-cut rhetoric. I can’t help but wonder if Meg Whitman won’t jump on this bandwagon before it’s all said and done.

It will be a Republican year in 2010, and the GOP could pick off the California statehouse and use it as a tax-cutting, limited-government model with national impact -- in ways that Gov. Arnold Schwarzenegger never did.