McCain: Middle-Class Tax Cut is 'Welfare'

[one...two...tree 2,762]

And here I thought John McCain couldn't slip further from reality on economic matters. I stand corrected.

Republican presidential candidate John McCain on Saturday accused Democratic rival Barack Obama of favoring a socialistic economic approach by supporting tax cuts and tax credits McCain says would merely shuffle wealth rather than creating it. [...]

Obama has said his tax policies would cut payments for 95 percent of working Americans, while increasing them only for families making more than $250,000 a year. McCain has argued that 40 percent of Americans don't pay income taxes, either because they are seniors or don't meet minimum earnings thresholds, so the only way to cut their taxes is to give them various credits.

"In other words, Barack Obama's tax plan would convert the IRS into a giant welfare agency, redistributing massive amounts of wealth at the direction of politicians in Washington," McCain said in the radio address.

We talked the other day about why McCain doesn't know what he's talking about, but Obama is prepared to deliverer a speech in St. Louis today that drives the point home nicely. According to the prepared text, Obama will explain that both candidates are offering tax cuts: "The difference is who we're cutting taxes for."

"It comes down to values -- in America, do we simply value wealth, or do we value the work that creates it? For eight years, we've seen what happens when we put the extremely wealthy and well-connected ahead of working people. Now, John McCain thinks that the way to rebuild this economy is to double down on George Bush's policy of giving more and more tax breaks to those at the very top in the false hope that it will all trickle down. I think it's time to rebuild the middle class in this country, and that is the choice in this election.

"Senator McCain wants to give the average Fortune 500 CEO a $700,000 tax cut but absolutely nothing at all to over 100 million Americans. I want to cut taxes -- cut taxes -- for 95 percent of all workers. And under my plan, if you make less than $250,000 a year -- which includes 98 percent of small business owners -- you won't see your taxes increase one single dime. Not your payroll taxes, not your income taxes, not your capital gains taxes -- nothing. It's time to give the middle class a break, and that's what I'll do as President of the United States.

"Lately, Senator McCain has been attacking my middle class tax cut. He actually said it goes to, 'those who don't pay taxes,' even though it only goes to working people who are already getting taxed on their paycheck. That's right, Missouri -- John McCain is so out of touch with the struggles you are facing that he must be the first politician in history to call a tax cut for working people 'welfare.'

The only 'welfare' in this campaign is John McCain's plan to give another $200 billion in tax cuts to the wealthiest corporations in America -- including $4 billion in tax breaks to big oil companies that ran up record profits under George Bush. That's who John McCain is fighting for. But we can't afford four more years like the last eight. George Bush and John McCain are out of ideas, they are out of touch, and if you stand with me in 17 days they will be out of time."

http://www.washingtonmonthly.com/

[w¡n9Nµ7 §£@¥€r 123]

A middle class tax cut may not be welfare, but is certainly does amount to aidin' and abettin' the enemy.

[Mr. Big Dog 10,747]

A middle class tax cut may not be welfare, but is certainly does amount to aidin' and abettin' the enemy.

Well, this middle class family needs some aidin' and abettin'. Seriously.

** McSame's lame campaign. Send him into retirement and her back to Alaska where she can be doin' some Russia watchin' for all I care.

[w¡n9Nµ7 §£@¥€r 123]

Well, this middle class family needs some aidin' and abettin'. Seriously.

Socialist scum

[Mr. Big Dog 10,747]

Well, this middle class family needs some aidin' and abettin'. Seriously.

Socialist scum

I know, I'm an America hatin' socialist-terrorist scumbag.

[w¡n9Nµ7 §£@¥€r 123]

[IAMX 3,055]

So giving to the rich isn't socialism or welfare, but giving to the middle class is?

[Heracles 417]

First of all absolutely nobody should be getting a tax break considering the country is really struggling financially. Save that tax break and use it to provide UHS, adequate unemployment benefits, disability allowances and so on.

Then, anyone in the highest tax bracket should probably pay more tax. I would say at least 45%. Anyone earning over $200K complaining about money (tax) is a joke. Especially considering all of the freakin loopholes to minimize tax that people in that tax bracket have and use.

When a country gives people the opportunity and allows someone to earn $250K+; as a decent citizen and a moral human being, we should pay our fair share back into the system.

Edited October 19, 2008 by Aficionado

[Cassie 8]

First of all absolutely nobody should be getting a tax break considering the country is really struggling financially. Save that tax break and use it to provide UHS, adequate unemployment benefits, disability allowances and so on.

Then, anyone in the highest tax bracket should probably pay more tax. I would say at least 45%. Anyone earning over $200K complaining about money (tax) is a joke. Especially considering all of the freakin loopholes to minimize tax that people in that tax bracket have and use.

When a country gives people the opportunity and allows someone to earn $250K+; as a decent citizen and a moral human being, we should pay our fair share back into the system.

But that's crazy socialist talk, BY!

[Mr. Big Dog 10,747]

First of all absolutely nobody should be getting a tax break considering the country is really struggling financially. Save that tax break and use it to provide UHS, adequate unemployment benefits, disability allowances and so on.

Then, anyone in the highest tax bracket should probably pay more tax. I would say at least 45%. Anyone earning over $200K complaining about money (tax) is a joke. Especially considering all of the freakin loopholes to minimize tax that people in that tax bracket have and use.

When a country gives people the opportunity and allows someone to earn $250K+; as a decent citizen and a moral human being, we should pay our fair share back into the system.

Agreed for the most part. The tax relief on the bottom of the income scale will help bring money back into the economy - immediately. The recipients of that relief will funnel the extra bucks right back into the economy by purchasing goods and services. Much of that from overseas, though.

[Heracles 417]

First of all absolutely nobody should be getting a tax break considering the country is really struggling financially. Save that tax break and use it to provide UHS, adequate unemployment benefits, disability allowances and so on.

Then, anyone in the highest tax bracket should probably pay more tax. I would say at least 45%. Anyone earning over $200K complaining about money (tax) is a joke. Especially considering all of the freakin loopholes to minimize tax that people in that tax bracket have and use.

When a country gives people the opportunity and allows someone to earn $250K+; as a decent citizen and a moral human being, we should pay our fair share back into the system.

But that's crazy socialist talk, BY!

I was actually have a joke about this topic the other day with a friend from Aus who was asking how things are going here in the US. Conservatives in Australia are all for raising taxes to better the country. We love investing money on projects / infrastructure which will create jobs and better the lives of our citizens / legal residents. Whereas in the US conservatives hate taxes unless spent on military. I am all for spending on defense if the defense contractors are held accountable. The number of stories I hear about waste here is a national disgrace.

For example where private military contractors (no names) bill the US government, the US tax payer, $45,000 for a valve which they say is "hard to get", that they already have sitting on a shelf; A $55 dollar valve might I add. Or the million dollar projects awarded to companies that don't even bother completing them because nobody bothers checking.

I am all for investing in R&D plus paying and treating the troops well but totally despise companies that rort the system, the taxpayer, for their own gain. Politicians turn a blind eye to this. I know it for a fact considering the various people I know who deal with this #### but are powerless to do anything.

[Mr. Big Dog 10,747]

Very nice.

[Heracles 417]

Agreed for the most part. The tax relief on the bottom of the income scale will help bring money back into the economy - immediately. The recipients of that relief will funnel the extra bucks right back into the economy by purchasing goods and services. Much of that from overseas, though.

That was true when we manufactured stuff here. When we buy something outside the US the net value to America, to Americans, is almost nothing.

The government needs to invest on large local infrastructure projects. And I am not talking about the stereotypical US farm grant or rebate but about building infrastructure. Invest in community infrastructure projects. This sort of stuff cannot be outsourced and creates thousands of jobs. Invest in a high speed train allowing people to live in remote towns yet work in the city.

If you look at the countries which have the strongest growth and boom a lot of it comes from large scale projects to physically improve their cities, to physically improve their country, to physically improve the living standard of people. This is something Republicans and Democrats absolutely do not get.

Contrary to peoples belief, property booms are not the same as investing in large scale infrastructure projects. Europe gets it. Canada gets it. Asia gets it. Dubai gets it. Australia gets it. China especially gets it. An example of a large scale project was the interstate system. Hoover Dam. Going to the moon. Manhattan project.

[Mr. Big Dog 10,747]

Agreed for the most part. The tax relief on the bottom of the income scale will help bring money back into the economy - immediately. The recipients of that relief will funnel the extra bucks right back into the economy by purchasing goods and services. Much of that from overseas, though.

That was true when we manufactured stuff here. When we buy something outside the US the net value to America, to Americans, is almost nothing.

The government needs to invest on large local infrastructure projects. And I am not talking about the stereotypical US farm grant or rebate but about building infrastructure. Invest in community infrastructure projects. This sort of stuff cannot be outsourced and creates thousands of jobs. Invest in a high speed train allowing people to live in remote towns yet work in the city.

If you look at the countries which have the strongest growth and boom a lot of it comes from large scale projects to physically improve their cities, to physically improve their country, to physically improve the living standard of people. This is something Republicans and Democrats absolutely do not get.

Contrary to peoples belief, property booms are not the same as investing in large scale infrastructure projects. Europe gets it. Canada gets it. Asia gets it. Dubai gets it. Australia gets it. China especially gets it. An example of a large scale project was the interstate system. Hoover Dam. Going to the moon. Manhattan project.

We're in agreement here. I acknowledged that the "give the little man a buck to put back into the economy" approach will only have limited success if the goods and services purchased with that buck were made outside of the country. Infrastructure is where the country has a great need of investment and that would create jobs here at home. Of the two candidates, Obama is the one recognizing this need and the benefit of such investment. Just one more reason to vote for him over McSame.

Edited October 19, 2008 by Mr. Big Dog

[diadromous mermaid 36]

What, exactly, is a tax cut to Americans that already pay no tax?

A middle class tax cut may not be welfare, but is certainly does amount to aidin' and abettin' the enemy.

Well, this middle class family needs some aidin' and abettin'. Seriously.

** McSame's lame campaign. Send him into retirement and her back to Alaska where she can be doin' some Russia watchin' for all I care.