The Associated Press

Was he wrong then and right now? Or is it the other way around?

Featured Topic | Posted 2 years 18 weeks ago

Why is John McCain pushing tax policies he once opposed?

Back in 2001, Sen. John McCain famously refused to support President Bush's package of tax cuts. Now that he is the presumptive Republican presidential nominee, however, McCain is marching straight down the party line. The economic package he has laid out embraces many of the tax policies he once decried: extending Bush's tax cuts he voted against, offering investment tax breaks he once believed would have little economic benefit and granting the long-held wishes of tax lobbyists he has often mocked. Why has McCain changed his approach?

Read More

Ben likes: McCain and taxes

Wall Street Journal

John McCain, the Republican nominee for President, has proposed extending the Bush tax cuts. So as morning follows night this week, Democratic news analysis has been pouring forth to proclaim that his tax ideas are a threat to the republic because they'll explode the budget deficit. The Senator needs to understand that he can't win this election by playing on this economic turf.

The subtext of the criticism of the McCain tax plan is that it would somehow "starve" the government of revenue. The figures being tossed around for the "cost" of the McCain tax plan have been estimated at $2 trillion by the liberal Center for American Progress, while the Brookings Institution estimates $5.7 trillion.

Senator McCain doesn't need a doctorate in economics to understand this debate. As a Member of Congress and Presidential candidate, he has listened endlessly to Democrats mau-mau their opponents with rhetoric about "fairness" and the "deficit" and, best of all, the "investment needs" of the government, aka, spending.

The past week's criticisms are intended to bait Mr. McCain into debating his tax cuts on these liberal terms. He can only win this debate, and the election, by breaking free of that mindset and making his own personal case for lower taxes and the prosperity they help to create.

 

Read More

Joel likes: McCainomics

Marie Cocco/Truthdig

Fittingly, and with dreadful predictability, John McCain used April 15—tax day—as the day to release his economic plan. Fittingly, and with dreadful predictability, it offers more of the same. 

But more of the same what?

Is it Bushonomics? This is the more debilitating version of Reaganomics we have had for the past seven years. It has been more damaging, because neither President Bush nor the Republicans who controlled Congress through most of his tenure gave a whit about cutting spending, which Reagan, from time to time, tried to do. So one of Bush’s parting gifts when he leaves the Oval Office is going to be an overhang of debt.

The straight-talk candidate’s economic plan offers a ticket straight back to the same old story: tax cuts that go to individuals and businesses, which Congress (especially a Democratic Congress) will in all likelihood balk at offsetting with deep spending cuts, and which will in all likelihood end up obliterating any glimmer of hope for a bipartisan deal on the future of entitlement programs.

Been there, done that. Don’t really want to go back to that future.

 

Read More

Where do you stand on this issue?

Click on the graph to cast your vote.
average
vote
your vote
  • Delicious
  • Digg
  • StumbleUpon
  • Propeller
  • Reddit
  • Magnoliacom
  • Newsvine
  • Furl
  • Facebook
  • Google
  • Yahoo
  • Technorati
  • Icerocket

Thoughts

LouisVuittonMonogramMiroir

Submitted on August 20th, 2010 by lehua333

High efficiency and performance of any Louis Vuitton 2009 Collection, Louis Vuitton 2010 Collection and Louis Vuitton Black Murakami professional career may be a competition, need Louis Vuitton Clutches to keep access to services such as Louis Vuitton Cruise professional athletes to promote the Louis Vuitton Damier local view. The reason is that Louis Vuitton Damier Azur athletes who are popular and Louis Vuitton Damier Canvas provide a good performance Louis Vuitton Damier Geant have been high in the Louis Vuitton Denim popularity in the mass Louis Vuitton Epi Leather scale, which means that a lot of Louis Vuitton Kalahari money the sponsors and organizers. louis vuitton speedy, clubs, sponsors, organizers and Louis Vuitton Luggage all the parties concerned want Louis Vuitton Mahina to have their own camp in the best Louis Vuitton Men's collection professional athletes, they would be willing Louis Vuitton Mini Lin Croisette to pay the cost. However, even in Louis Vuitton Monogram these less visible sports Louis Vuitton Monogram Canvas venues have good income and Louis Vuitton Monogram Denim higher compared to the market Louis Vuitton Monogram Groom dedicated professionals in the Louis Vuitton Monogram Idylle maximum income. Of course Louis Vuitton Monogram Mini Lin there is no uniform pay and Louis Vuitton Monogram Miroir professional athletes, they have a very Louis Vuitton Monogram Multicolore different type of sports, athletes Louis Vuitton Monogram Perforated body, and the games or Louis Vuitton Monogram Suede sports, is to play country. However, employment opportunities, waiting Louis Vuitton Monogram Vernis for a successful professional athletes, at least in Louis Vuitton Monogram Watercolor this period, when they are superior Louis Vuitton Nomade Leather in sports is huge, but to catch up with them years Louis Vuitton Seasonal of age, the legal restrictions on the Louis Vuitton Sobe natural. These participants can Louis Vuitton Stephen Sprouse have easy access to anywhere Louis Vuitton Suhali Leather in the world. The trailer is rather Louis Vuitton Surya one of choice for Australian residents. Africa Louis Vuitton Taiga has a wide range of risk areas. Brisbane is Louis Vuitton Utah known camping trailer camping tent where Louis Vuitton Utah Leather most admire. While camping is also proposed to consider hiring the trailer, because it will Louis Vuitton White Murakami give you a different types of tents and related features of the idea.

TAX CUTS

Submitted on April 26th, 2008 by janmb

I am CONFUSED.
Inflation was in honesty-- 6.4% and will most likely be higher this 2008 because of the freaking--interest rate cuts to help the stock markets.
Lowering the interest the FIRST time around helped to create the mortgage mess and besides it hurt SAVINGS and got Americans more in debt with borrowing. So now they lowered the rates AGAIN to a 1940's economy to help stock markets. The stock markets go up and down ( normally) so why didn't the FEDS just let it take its course. ?
TAX CUTS for the wealthy who don't need them are putting us worse in a hole along with borrowing from China to keep the war in IRAQ going. What is $300--or $400 going to do for us now ? The average America will put it towards their credit card debt.

Join the Debate

Start your own blog, comment on topics, and let your voice be heard. Start your free account now!

User login

login