PHOENIX (AP) — Republican presidential candidate John McCain acknowledged the steep drop in U.S. jobs and said he would help the economy by cutting taxes, encouraging free trade, building nuclear power plants and launching other initiatives.
More than 400,000 jobs have been lost since December, he said, adding, "Americans are worried about the security of their current job, and they're worried that they, their kids and their neighbors may not find good jobs and new opportunities in the future."
McCain would provide refundable tax credits of $2,500 for individuals, and $5,000 for families, for all those who buy health insurance. Employer contributions toward health insurance would be treated as income, meaning workers would have to pay income taxes on it, but not payroll taxes.
http://ap.google.com/article/ALeqM5g6OTvvWxmdp5Q2IvjYry89Ikh1YwD91OUM480
There was NOT ONE mention of cutting federal expenditures. The federal budget as of 2007 was $2300 billion. Only $90 billion of that was used to "operate the government".
Cutting taxes while not cutting already huge expenses while also borrowing to cover the deficit is LUDICROUS.
"Employer contributions toward health insurance would be treated as income, meaning workers would have to pay income taxes on it, but not payroll taxes."
McCain has admitted that he is not that knowledgeable on the subject of the economy. It is entirely possible that he has made commitments to free market contributors and not realize the full impact of those commitments. I have heard him use the tern "free market" repeatedly. To get a perspective about the so-called free market that the media will never tell you about I sugest you read Naomi Kline's The Shock Doctrine: The Rise of Disaster Capitalism". It has just been released in paperback or you can get it at the library. If the free market advocates continue their control of the White House our economy will get much, much worse, worse that what Obama would do.
I heard Obama make a reference to "disaster capitalism" in a speech when talking about the mess in New Orleans. I don't think he will be a strong free market advocate.
And steps up and says that he is not good with economic, is either a straight shooter, ill spoken, or is just plain honest.
He also has said on a TV broadcast that congress has failed in its duties as it relates to the economy.
As he is is part of the Senate and has been in the Senate for some time, he is also responsible for the failures.
But as he has admitted he is not good with economics and is showing supply side tendencies, the whole trickle down theory.
A president needs to be able to lead and make informed decisions or will this president defer to advisors, who have been part of the financial scandals we have had to endure.
McCain should be careful what he admits to. For a man not so good with economic matters -- which is nutty since he is well advised and is also very responsible for understanding economics in his role as a Senator -- he sure was eager to interfere with the investigation into Lincoln Savings and Loan, in his OTHER role as a member of the Keating Five.
I wonder if he told Charles Keating when he showed up, something like:
"Aw, shucks, Chuck, I'm not so good with this economic stuff."
DOOOOOUBT IT.
as income ? And pay income tax on this ? Sounds like a tax increase ,
Sen. McCain ! And GZ is right that govt . spending MUST be cut .
With the McCain/Bush tax cuts, McCain could cut the following cabinet dept's, and still not be able to balance the budget:
Agriculture, Commerce, Education, Energy, HUD, Interior, DOJ, Labor, Transportation, Treasury, EPA
Pink Slip
can increase the taxes of every taxpayer in the nation and still not be able to balance the same budget.
- Just the KAT, thinking out loud again.
and Obama can increase the taxes of every taxpayer in the nation and still not be able to balance the same budget.
But he never said that. McCain has said that he COULD make Bush's tax cuts permanent, and still balance the budget in 4 years. But he can't do it. Further analysis shows that in order to magically accomplish McCain's feat, the US economy would have to grow at 8% per year. Even in really prosperous years, it's not that high. And we would have to do it FIVE YEARS IN A ROW. Good luck with that...
Pink Slip
Who really believes that McCain will break with now permanent Republican tradition of running huge deficit budgeting? McCain's god is still Reagan, folks. And like Reagan, he's ALSO lying.