McCain abandons plan for new tax cuts

Discussion in 'Politics & Religion' started by saxon, Oct 13, 2008.

  1. saxon


    On Sunday, hours before attending a big strategy meeting at McCain campaign headquarters, Sen. Lindsey Graham (R-S.C.) told Bob Schieffer on CBS’ “Face the Nation” that McCain was planning “a very comprehensive approach to jump-start the economy, by allowing capital to be formed easier in America by lowering taxes."

    But when the meeting ended, so did plans for a new economy push. The campaign now says no new policy announcements are planned. Participants in the meeting refused to say what happened.

    “We’re locked down,” said one official.

    Jackie Calmes of The New York Times, who first reported the plan’s collapse on Sunday night, pointed to “internal confusion” about the matter.
  2. At least once a week Mccain comes up with a new plan for the economy in the hopes that somthing sticks proving that he really has no fucking clue what he is doing

    Obama's plan for economy has mostly been the same since he started his campaign,copy Bill Clinton's Economic policy.Works for me
  3. I agree McCains economic plans lack cohesiveness but saying Obama's policies have "mostly been the same since he started" is a REAL stretch. The most factual remark made by McCain during the second debate was the line about "Obama's 5 or 6 different tax plans."

    A close friend is tight with a major guy on Rahm Emanuel's staff and he told me to bank on a 28% cap gains tax although the slide in stocks may persuade Congress to forgo it, FOR NOW. Bottom line: tax receipts are going to be abysmal Q1 2009 (all this stock selling is actually GOOD for Q4/2008 receipts) and anyone who thinks tax relief is coming from a Dem majority in Congress is on drugs.
  4. One of McCain's problems is he doesn't have credibility as a tax cutter. Most conservatives fully expected a doublecross from him on taxes if he won the election.

    He's been totally outplayed by Obama on the tax issue. Obama has used a brilliant ploy, counting welfare payments as "tax cuts" and playing his class warfare card by promising "95%" of taxpayers a cut. Of course, it will never happen but McCain seems frozen, unable to respond. Obama has managed to neutralize the republicnas' biggest weapon, the tax issue.
  5. Mvic


    Obama's tax policies are so backward it is just sad. He is a smart guy who could do a lot for the US instead due to his polices that crush productivity and entrepreneurship in favor of rewarding the most unproductive he will deal the final blow to the Us economy. I have voted democrat ever since I became a citizen and am a libertarian on most social issues (which means I vote democrat) but how can anyone in good conscience vote for Obama despite the unpalatable alternative when he is going to kill off the only thing that is keeping us from becoming a 2nd world country, that being any sort of GDP growth whatsoever.

    I know many other entrepreneurs and business owners up here in Boston who are progressive democrats, big Ted Kennedy supporters, and have never voted GOP in their life but who are seriously considering voting for McCain because they are afraid that Obama's policies are going to put them out of business. Collectively these men and women must employ hundreds of people at least and they are the type of companies that are proud to treat their employees like humans and not cogs, giving them maternity leave, livable wages, etc.

  6. Thats interesting. It's not like Obama's tax hikes on the wealthy are unprecedented..the rates will be about the same as they were under Clinton and less than they were under reagan.
  7. You and other socialists miss many salient points. What were state tax rates two decades ago? Or property taxes? Or excise taxes? Or sales taxes? The sun doesn't rise and set with the Federal government. The over all tax burden of American's is too high and the lions share goes where it delivers least-to Washington.

  8. You could be right, but he was referring to Obama specifically and his tax policies. BTW I'm not a socialist.
  9. Mvic


    Are you sure about that? If that's the way it turns out it would be a relief as Clinton rates most could live with. From what I have been hearing from CPA friends is that when all increases are accounted for the final tally will come in substantially higher than what was due in the Clinton years when revenues were good and the tax hit was easier to take, marketing expenses were lower and margins higher.

    Anyone know if any business group has put some numbers together? It is hard to know what is really going to happen as the plans are fairly vague, intentionally so I am sure, but the gist of where Obama wants to take the tax system is clear enough.
    #10     Oct 13, 2008