An Irresponsible Tax Policy
April 28th, 2008, 4:56 PM EDT
McCain wants to make the Bush tax cuts permanent, eliminate the alternative minimum tax, and reduce the tax rate on corporate profits. The non-partisan Tax Policy Center says this would reduce money coming into the treasury by more than 5 trillion dollars over 10 years.
So how is McCain going to fill the gap? Paul Krugman wants to know. Voters love to know their taxes will be lowered. But even Bush 41 couldn’t keep his “no new taxes” pledge.
This is not “tax policy,” It is a political policy designed to achieve political ends, without regard for the health of the Treasury, the solvency of federal programs, and the future of this nation. It is the usual Republican bribe which comes around every four years just prior to election time.
Interest on the national debt now amounts to 10% of the federal budget. The Pentagon only accounts for roughly 20%.
Our candidates for president should be asked one question: would you sacrifice political expediency, and, if need be, your own political future, for the good of the nation?
Oh is that too much to ask? Well what about all the cops and firefighters who put their lives on the line every day for a mere $25,000 a year? How does someone’s “career” in politics compare to that?
April 28th, 2008 at 6:22 pm
I really like the question you ask in the 3rd paragraph, RC. The only two presidents to have done so, in my opinion, are Johnson and Carter.
I think that we also need a president who places a high priority on the FINANCIAL education of students and adults.
April 28th, 2008 at 6:56 pm
I “like” Senator McCain’s gas tax holiday idea. In fact, why stop at a holiday? Why not do away with the gas tax forever?
As this $0.18/gal funds our highways, we don’t need to fund this wasteful nonsense anymore. The highway system is finished. Spending more money on these roads is silly.
April 28th, 2008 at 10:12 pm
Once, the good senator was cruising down the highway in the “Straight Talk Express”. Telling it like it was and speaking truth to power. Trying to convince the party faithful that the emperor was in fact naked.
But today, he’s like the old man who got confused entering the 4-lane. McCain has driven his bus down the wrong ramp. He’s driving wildly down the wrong side of the highway, against traffic. The bus is swerving around on-coming cars violently as other drivers steer into the ditch to avoid him.
As the “BS Express” makes its way along, McCain is yelling from behind the wheel, “get out of my way, don’t you people know how to drive!!”
April 28th, 2008 at 10:25 pm
And Newsweek says McCain wants to up “the personal tax exemption for dependents, from $3,500 to $7,000.”
We don’t need the income tax either! Just print more money! It’s manna from heaven! It’s magic!
[Cheryl: Hmmm, I guess could you say Nixon did it too, by resigning before he could be removed, except this has something of the flavor of a technicality.]
April 29th, 2008 at 12:07 am
True story: Mcain offered me a free butt rub and massage for my vote.
He really will say anything!
Vote Mcain.
April 29th, 2008 at 12:45 am
otherwise known as the black agenda
April 30th, 2008 at 5:45 pm
Alicia~ what’s the “black agenda”?
April 30th, 2008 at 8:17 pm