Thursday, July 17, 2008

McCain Rhetoric vs. Reality on Taxes

MCCAIN RHETORIC: Obama Will Enact the Largest Tax Increase Since World War II. “No matter which of us wins in November, there will be change in Washington. The question is what kind of change? Will we enact the single largest tax increase since the Second World War as my opponent proposes, or will we keep taxes low for families and employers? This election offers Americans a very distinct choice about what kind of change we will have. This is especially true for the small business community.” [McCain speech to the NFIB, 6/10/08]

THE FACTS:
Barack Obama is actually proposing a middle class tax cut. John McCain will provide nearly $2 Trillion in corporate tax cuts (paid for how?) and will make permanent the Bush tax cuts for the wealthy. Ordinary Americans will only see a small fraction of the tax cuts John McCain is providing.

Fact: Barack Obama is the Only Candidate to Propose Cutting the Capital Gains Tax Rate to Zero for Start Ups and Small Businesses

Fact:
Barack Obama is the Only Candidate to Propose Tax Relief for Low and Middle Income Seniors

Fact: Less than 2 Percent of Small Businesses Would be Affected by Rolling Back the Bush Tax Cuts on the Wealthy

Fact: McCain’s Tax Plan is More Regressive than the Bush Tax Cuts; Nearly 60 Percent of the Benefits Go to the Top One Percent.

Fact: McCain's Health care plan would burden small business and make it harder for Americans to get health insurance.

Fact: McCain Supports the Bush Tax Cuts that He Once Said were “Too Tilted to the Wealthy,” and “Go to the Most Fortunate Among Us, At The Expense of Middle-Class.”

UPDATE with source link.

14 comments:

Anonymous said...

How does cutting the capital gains tax help small business?

Businesses pay income tax on their profits. These profits generally consist of inventory, machinery, and other physical assets. Because the Government wants cash, and not a percentage of these physical assets, small business must take out loans in order to pay their tax bills. This impedes their ability to hire and grow, slowing the economy.

This is what has caused such steep losses in good manufacturing jobs. Companies will naturally migrate to countries with less burdensome tax structures, and simply export to the United States.

Don't buy the hype about "corporate tax cuts for the wealthy." The person cutting your hair or your lawn is probably incorporated. The vast majority of corporations are very small businesses.

These talking points are obviously being regurgitated by someone who has very little experience paying taxes. Just remember, Obama will finish the economy with his socialistic tax plan.

Just as his resistance to drilling will destroy the middle class, so, too, will his tax policies.

Anonymous said...

No doubt! If you want to know what it would be like to have Democrats in control in Utah, spend a little time in Michigan!

It's funny...Republicans run Utah; Utah enjoys one of the best economies in the United States.

Democrats run Michigan; Michigan enjoys one of the most severe one-state recession in American history.

Hhhhmmmmmmm......

Anonymous said...

That's because Michigan promoted the Democrats two favorite things: Taxes and Unions.

Anonymous said...

How is Obama going to cut taxes on middle and low income households when the bottom 50% of households are paying less than 4% of all income taxes?

Jesse said...

Republicans are a treat. Only they would be ridiculous enough to say 'Support The Troops' then cut taxes during war time. This republican administration couldn't balance a budget to save their lives. It's no wonder they are losing their seats all across the nation. It's laughable to call a republican conservative these days.

laughing at anon said...

Are all 4 anons the same person? If so, calm down. As to your points....I'm scratching my head on your rant about Obama cutting taxes on middle class. It's ok for tax cuts for a few but not for the rest of us? Your ranting and raving is just that. You must love being upset. Maybe Graham is right, we are a nation of whiners and anon is one of them.

Anonymous said...

OK, Look even if you support Obama, you have got to go to McCain's website and see the 7 minute video on Obama's flip-floping on Iraq. The guy is worse than Kerry ever was. Take a looksie if you dare to see the new savior made to look like the idot he is.

http://www.johnmccain.com/

laughing at anon said...

It's like watching Fox News with a straight face...it isn't possible. I can't believe you're throwing Kerry into this. Everything the Repubs had on Kerry was a complete lie.
So, why should I believe Repubs now? By the way, McCain has already flipflopped on the Iraq War. So, it's ok for McCain, but not for Obama. How typical. But, you are entertaining, thanks for making me laugh.

Jesse said...

Republicans believe propoganda is gospel.

This video lacks credibility and is taken out of context. It's mislead people by not looking at the entirety of what Barack says, just like the smear emails republicans generate every season keeping the servers at snopes.com busy.

The sound track over the collage is obnoxious too, and it uses a caption to tell us what he's saying instead of letting the video roll so we can hear the entire statement.

Garbage, pure garbage. It's time for real solutions, not the crap from republicans that's driven our economy into the toilet.

Anonymous said...

Hey Laughing:

I love how you think that because more than one person disagrees with you, they must all be the same person. It's just that most people in Utah believe in standing on their own two feet, and don't mind saying so. This is why your party is so far in the minority. Please reference Rep. Bishops insightful story, it might help you understand.

When did McCain flip on the Iraq war? Was it when he was the only person pushing for a surge, which worked. If Obama had been in charge, he would have pulled those troops and lost. This is what it means when people point out that Democrats are invested in defeat. Guess what gas prices would look like then.

The fact is that Obama has no accomplishment at all. I know this is hard for you all to overcome. He gives a mighty fine speech, though!

Please brush up on your math. If the bottom 50% pay only 4% of the tax burden, they have already received a tax cut.

What you're looking for is wealth redistribution. You might consider working for your income instead of depending on others. Then you can join the rest of us that get robbed for our hard work.

BTW, When Republicans pointed out that Kerry threw his war medals in the trash at a protest, it was true. McCain never did that. Again, they were invested in defeat....sad.

laughing at anon said...

hey anon:
Brush up on YOUR math!
Of course the bottom will pay less...DUH. I assume you know what percentages are. If the bottom is paying the same rate as the top is (like flat taxes), the top will pay more in dollars. And the repubs whine and cry about the amount of money they have to dish out. But the bottom, eventhough the dollar amount is less, the burden is greater. The top has a managable percentage of their income while the bottom has to deal a bigger percentage of their income. As a result, a low-income family has to decide between paying utility bills and groceries. When does the top ever have to make those kind of decisions? That's why Repubs are labeled as a cold-hearted, insensitive and selfish party.

Anonymous said...

Laughing:

Do you contend that we are paying a flat tax? We are not paying a flat income tax in this country. This really shows how little you know about taxation.

Again, the bottom 50% pay much less, as a percentage of their income, than the top 50. The bottom 25% pay no income tax at all. The top 1% of earners pay more tax than the bottom 90%. But you still cry for more.

Please brush up on tax law, as you have now convinced me of how little you know of both math and tax law, all the while glibly commenting on such topics quite freely.

BTW, I have had to choose between utilities and groceries. It made me decide to work harder, not cry harder.

This disparity of knowledge might well account for your desire for state assistance. This is why the Democrat party is labeled as bleeding heart Socialists.

laughing at anon said...

anon:
Nice label: Socialists?
Then can I call you a Facist?
BTW, if you re-read my last entry, I said (like flat taxes)in other words, it was an example. I guess I can't argue with you if you can't read.
You're still wrong on the percentages. Also, the bottom still pays taxes, but receive the break on income taxes. Hmmm, maybe you should brush up on the tax laws yourself.
btw, I've been doing tax returns for 20 years. And it looks like you've been caught up in the typical Repub rhetoric. Democrats have always been for opportunity and not handouts. But your closed mind prevents you from seeing that. Why do you think we have education grants and loans? To give everyone a chance at receiving an education.(btw,that is an example)
You're labeling and stereotyping is why I have been laughing at you. And if you have to decide yourself between groceries and utility bills and choose not to receive any help, then great for you. But don't condemn us for wanting to help those who are asking for help. Most people ask as a last resort. But no, you seem to think that is socialism. You have no idea what socialism even is. Did you listen in your history classes? Probably not.
Go ahead and keep your ridiculous rhetoric to yourself. Brush up on the tax laws (all taxes)and have a nice day.
this is my last entry, because I've already wasted work time laughing at you.
Go ahead and respond. I might read it sometime next week. Enjoy Pioneer Day.
I'm curious,Why are you so angry? Republicans control government (local and national) and have so for a couple of decades. And don't bother with "the Democrats control congress". They have a slim majority, but government is being run and manipulated by the Republican government. Ask any political science teacher.

Anonymous said...

Angry? You're the one dropping the F-bomb....Pottymouth!

Anyway, let me try (I wish I could underscore try) to follow your logic.

You presented an assertion on the arguement that had no relevance to the topic (ie flat taxes) because we don't have a flat income tax in the United States.... And your upset with me because I pointed out this fact?

He-he

Now I'm the one laughing!