Tax Expert: McCain’s Tax Cuts Are Aimed At The Rich ‘Even More So Than Bush’s Were’
Tax Expert: McCain’s Tax Cuts Are Aimed At The Rich ‘Even More So Than Bush’s Were’
In 2001 and 2003, Sen. John McCain (R-AZ) opposed President Bush’s tax cuts, arguing that he couldn’t “in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us.” But since then, McCain has ditched his concern about policies tilted towards the wealthy and now wants to double Bush’s tax cuts.
Examining McCain’s shifts on taxes today, the Wall Street Journal’s Martin Vaughan writes that “an apt description” for McCain’s tax proposals would be to say “that the wealthy would benefit most.” In fact, as the Cato Institute’s Chris Edwards points out, McCain’s proposals are aimed at the wealthy “even more so than Bush’s”:
McCain’s apparent bent towards deeper tax cuts at the higher end of the income scale in his recent campaign proposals surprised many who recall his rejection of the 2001 and 2003 Bush tax cuts.
“McCain’s proposals this year are consistently pretty supply-side, even more so than Bush’s were,” said Chris Edwards, director of tax policy studies at the Cato Institute.
Earlier this year, the non-partisan Tax Policy Center found that McCain’s economic plan “would primarily benefit those with very high incomes.” In fact, under McCain’s plan, John and Cindy McCain would get a $300,000 tax break while middle class Americans would save only $319. The McCains save $60,016 more under McCain’s tax plan than under Bush’s.
In their more candid moments, McCain’s supporters admit that he is doubling down on Bush’s tax policies. In May, House Minority Whip Roy Blunt (R-MO) said that McCain’s “tax policies” would “be in effect a third Bush term.” Sen. Lindsey Graham (R-SC) told ABC News in June that McCain’s policies would “absolutely” be an “extension” and “enhancement” of Bush’s.
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17 Responses to “Tax Expert: McCain’s Tax Cuts Are Aimed At The Rich ‘Even More So Than Bush’s Were’”
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The McCains save $60,016 more under McCain’s tax plan than under Bush’s...
...so he can have more to pay his taxes on those 7 houses...oh wait...
...he doesn't...forgot, carry on.
August 27th, 2008 at 7:38 pmThe Democrats need to beat this fact consistently and hard. And every time the MSM does something misleading like showing comparisons of the two tax plans only down to $200,000 a year, the Democrats need to call them on their dishonesty.
August 27th, 2008 at 7:38 pmNo, not enhancement! The Bush tax plan on Viagra.
August 27th, 2008 at 7:39 pm"My friends, for 5 1/2 years I was unable to file taxes, my friends. From my prison cell, my friends, I would have so loved to pay taxes to the country I love, my friends. Now, my friends, I have my friends to take good care of, my friends. Because, my friends, my friends who weren't POWs can't fall back on the excuse of being a POW to avoid paying taxes to the country they and my friends love, my friends."
PEACE
August 27th, 2008 at 7:50 pmBecause, my friends, my friends who weren’t POWs can’t fall back on the excuse of being a POW to avoid paying taxes to the country they and my friends love, my friends.”
No my friends, you all have the ability to send your money off shore to avoid paying taxes. We, my friends, never had the ability to do that when I was a POW for 5 years.
August 27th, 2008 at 7:54 pmCarrying his rich friends water, also known as carried interest. Getting jet lag from flying to offshore tax havens.
Having to make it to the top floor of non-tax paying major corporations. The air is thin at the Executive Suite level. No wonder the man's old and tired! Take a rest, John!
August 27th, 2008 at 7:56 pmWell, duh!!
August 27th, 2008 at 8:07 pmWhat a tool of the corporate fascists and arrogant plutocrats.
August 27th, 2008 at 8:24 pmHe scares the crap out of my elderly parents and they are die hard republican.
Both have said they will not vote for him, they cannot understand how a man of that age has the mental accumen and the physical stamina to perform as president (which he doesn't) or why he is so driven to a goal at a time in his life when almost everyone in his age bracket is either dead or just wanting to spend time with the grandkids and enjoy the day because, they realize they have so very few days left.
And that's Straight Talk my friends!
POW Bang BOOM!
August 27th, 2008 at 8:50 pmHouse Minority Whip Roy Blunt (R-MO) said that McCain’s “tax policies” would “be in effect a third Bush term.” Sen. Lindsey Graham (R-SC).... McCain’s policies would “absolutely” be an “extension” and “enhancement” of Bush’s.
Of course, y'all realize that these two say this in praise of McCain, thinking this would be a good thing ;-)
August 27th, 2008 at 8:56 pmTo quote Flo on those insurance commercials, "SURPRISE!"
August 27th, 2008 at 9:49 pmI came across these lines at another web site and am posting them here because they're unutterably right. Bush 1 destroyed the country. Bush 2 destroyed the world. Bush 3 will destroy the Solar System!
August 28th, 2008 at 8:42 amImpeach Pelosi, Cheney and Bush and Save the Constitution!
Let me explain how this will work.
Increases in the wealth of the rich are good for the poor because some of such additional wealth will eventually trickle down to the middle class and to the poor.
Haven't you felt something trickling down on you the past 28 years?
August 28th, 2008 at 8:59 amThis is another example that the "old world jounalism of Murrow, Cronkite and Rather is dead and buried. In the case of the Time Magazine reporter Ms Tumulty, she seems to think the finding out the who, what, where, when and how have been replaced with a steno pad, which she records what ABC said in rebuttle to the complaint of Congressman Kucinich. There is a great disconnect with what happened and the points made by ABC. She asks little of no questions to ABC. She takes what is handed to her and repeats it vebatim and then calls that reporting. I call is stenography. Lida Sohbet sohbet sesli chat Gelinlik Modelleri
January 11th, 2009 at 11:16 amJohn and Cindy McCain would get a $300,000 tax break while middle class Americans would save only $319. The McCains save $60,016 more under McCain’s tax plan than under Bush’s.
February 9th, 2009 at 4:45 pmThank you very much.
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