There's a theory, I think, that's prevalent--it was true in the 2001 tax cuts--that if you give it to the wealthy people, then they will then, you know, create jobs, etc. The interesting thing to me is that most economists will tell you that it's the middle-income Americans that have been keeping the economy afloat buying cars, buying houses, consumer goods, not the wealthiest of America.
Tax cuts for rich people do not help the economy. That's what McCain said. For some reason, though, he has changed his position.
[McCain] could "see an argument, if our economy continues to deteriorate, for lower interest rates, lower tax rates, and certainly decreasing corporate tax rates," as well as giving people the ability to write off depreciation and eliminating the alternative minimum tax.
McCain was defending his support for an extension of tax cuts sought by President Bush, which McCain voted against.
I guess the one positive aspect of this is that if McCain were to become president, nobody would be able to say that they are surprised when he turns out to be another Bush. He's been steadily laying the groundwork for just that. And just to make sure we get the point:
"No new taxes," the likely GOP presidential nominee said during a taped interview broadcast Sunday.
Read his lips.
3 comments:
I am trying to stay away from posts that have anything to do with numbers or taxes......It just gets my head hurting sooooo much. I would rather let the number dudes sort it all out. So whatcha gonna do with your 600 bucks? LOL hahaha you know I am kidding...John Kerry was for sure a bigger doofus and you know it!!! :)N
Hey, Nikki. I certainly won't try to deny that Kerry is a doofus. I just think that it's interesting that McCain is still revered as a moderate, even though he has abandoned most (if not all) of his moderate views in the process of morphing into a Bush clone. For example, he was against overturning Roe v. Wade, before he was for it.
To me Roe v. Wade is not a big concern.......and a politician changing their mind doesn't bother me either. I change my mind all the time. Morphing into another Bush to me is a positive. I don't expect a whole lot from politicians. We just need to agree on some things.
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