AMERICAblog: McCain campaign admits they have no real idea how much his "new" economic plan will cost
HereinDC
· 1 year ago
Oy Vey! Clusterf**k
grandma
· 1 year ago
More for the millionaires??
McCain Unveils New Economic Stimulus Proposal: Tax Cut For Millionaires
McCain is unveiling his new proposals, going back to the well of tax cuts for the rich. McCain will announce plans to “cut the capital gains tax on stock profits in half, from 15 percent now on stocks held a year or longer to 7.5 percent — a $10 billion proposal.” James Kvaal noted the impact of cutting capital gains:
Households earning less than $50,000 a year collected a mere 2.5 percent of capital gains in 2005, according to the Tax Policy Center. Families earning more than $1 million a year collected 59 percent of capital gains. Moreover, most middle-class families with capital gains hold their investments in retirement accounts shielded against capital gains taxes.
For a candidate already promising $175 billion tax cut for corporations, including $4 billion for oil companies, handing out a new tax cut for millionaires and calling it a “Pension And Family Security” plan is oddly appropriate.
cindy likes it... and so does dick cheney... eventually someone will explain to chimpy that its good for him.
calpolymom
· 1 year ago
I'm almost feeling sorry for McCain's spokespersons these days...wait, no I'm not.
blackwolf
· 1 year ago
Yeah, Obama should use this in a stump speech.
" Some amount of money? That's like answering which newspapers and magazine you read by saying "most of 'em, all of 'em!"
The real McCain exposed.
Bostonian_Queer_in_Dallas
· 1 year ago
For some odd reason, I keep seeing scenes in my mind from the Broadway musical "Les Miserables." The tunes are definitely haunting me...and I much prefer the work of Sondheim...but then again, I can also hear that hilarious Marie Antoinette spoof from the stage version of "Victor/Victoria"...."at half past seven, I'm off to Heaven... who cares what Louis XVI ("says")"
Soundboy_jeff_meanie
· 1 year ago
actually... I expected Pfotenhauer to start channeling Leonard Bernstein's Candide...
Life is absolute perfection, As is true of my complexion. Every time I look and see me, I'm reminded life is dreamy. Although I do get tired Being endlessly admired, People will go on about me - How could they go on without me? (If the talk at times is vicious, That's the price you pay when you're delicious.) Life is pleasant, life is simple- Oh my God, is that a pimple? No, it's just the odd reflection - Life and I are still perfection! I am everything I need! Life is happiness indeed!
Bostonian_Queer_in_Dallas
· 1 year ago
fuckin brilliant quote Soundboy! But then again...November 4th! WHAT A DAY, WHAT A DAY FOR AN AUTO DA FE!
devlzadvocate
· 1 year ago
Perfect!
ZennButtKicker (tlhwraith)
· 1 year ago
Who in the GOP doesn't understand that just cutting taxes aint going to cut it!?!?!?
What's so hard to figure out, it isn't just a function of people keeping more of their income, it's also a far more proactive stance that is needed to actually create new jobs and business opportunities. The GOP has this passive, hands off, theory that while it looks good on the surface, has shown itself to be incredibly ineffective long term. Right now we need someone to control the economic downturn, put in real stopgaps to start the turnaround, and manage the economic upswing hopefully on the other side. This is not the time for more passive just-below-the-surface trickle down theory malarky.
Soundboy_jeff_meanie
· 1 year ago
let's review reganomics... 2 - 2 = 8
yup, sounds like a plan to me.
sukabi1
· 1 year ago
yep, out of all the tax cuts that have been given to corporations, wealthy individuals over the last 8+ years, how much of that "saved money" has gone back into creating new jobs, maintaining old job levels, investing in new infrastructure, or maintaining existing infrastructure???
As far as even the numbers the Bush WH puts out every one of those items have gone backwards -- the money "saved" from giving the tax cuts to the wealthy / corporations have gone into obscene bonuses, golden parachutes for massive failures of leadership, and personal enrichment...
The theory that "trickle down" works is offset by a very real human trait -- GREED.
sukabi1
· 1 year ago
This is just another gimmick from the McCain campaign... he doesn't need to "know" how much it would cost to put into practice, because EVEN IF he gets elected he wouldn't put it into practice...
This is McCain pandering for votes... so when this isn't received favorably can we look forward to another tantrum induced "suspension" of his campaign?
devlzadvocate
· 1 year ago
When you really think about his "plan", it again skips right past middle class problems, e.g. "stop taxing unemployment benefits" instead of "extending unemployment benefits". In addition, other than the "senior" issue, which somewhat copies Obama, everything else is aimed at higher incomes. They just will not let go of that capital gains tax issue. They even tried to sllp it into the bailout bill, but it was removed.
I'll bet somewhere in McCain's proposal, there is something about rolling back the Estate Tax.
EmGD
· 1 year ago
If he rolls a six it'll be revenue neutral, if it's seven it;ll only cost a couple hundred billion. You don't want to know what it'll cost if snake eyes turn up.
I heard the number of 52.5 billion being tossed around, so who knows what the final tally might be. It doesn’t really matter though as we won’t have to worry about McCain and Caribou Barbie implementing their economic plan. The Republicans are just making it up as this plays out, so naturally they would have no idea of what the costs would be or where the money will come from. I have a feeling it won’t be from McCain’s rich friends and cohorts though, so I feel my wallet getting lighter just listening to the old fool. I think he’s slipping back to the Reganomic theory of voodoo economics that the Republicans are always so eager to embrace. We’ve had to endure eight years of it now, and I know we couldn’t afford another four.
Indigo
· 1 year ago
Santa's here early with a big bag of promises that can't be kept.
ckerst
· 1 year ago
Let's see reduce taxes for the unemployed reduce taxes for the wealthy reduce taxes for anyone that votes for John McCain. I think he finally has a winning formula.
All Comments
Clusterf**k
McCain Unveils New Economic Stimulus Proposal: Tax Cut For Millionaires
McCain is unveiling his new proposals, going back to the well of tax cuts for the rich. McCain will announce plans to “cut the capital gains tax on stock profits in half, from 15 percent now on stocks held a year or longer to 7.5 percent — a $10 billion proposal.” James Kvaal noted the impact of cutting capital gains:
Households earning less than $50,000 a year collected a mere 2.5 percent of capital gains in 2005, according to the Tax Policy Center. Families earning more than $1 million a year collected 59 percent of capital gains. Moreover, most middle-class families with capital gains hold their investments in retirement accounts shielded against capital gains taxes.
For a candidate already promising $175 billion tax cut for corporations, including $4 billion for oil companies, handing out a new tax cut for millionaires and calling it a “Pension And Family Security” plan is oddly appropriate.
http://thinkprogress.org/2008/10/14/mccain-cap-...
" Some amount of money? That's like answering which newspapers and magazine you read by saying "most of 'em, all of 'em!"
The real McCain exposed.
Life is absolute perfection,
As is true of my complexion.
Every time I look and see me,
I'm reminded life is dreamy.
Although I do get tired
Being endlessly admired,
People will go on about me -
How could they go on without me?
(If the talk at times is vicious,
That's the price you pay when you're delicious.)
Life is pleasant, life is simple-
Oh my God, is that a pimple?
No, it's just the odd reflection -
Life and I are still perfection!
I am everything I need!
Life is happiness indeed!
WHAT A DAY, WHAT A DAY FOR AN AUTO DA FE!
What's so hard to figure out, it isn't just a function of people keeping more of their income, it's also a far more proactive stance that is needed to actually create new jobs and business opportunities. The GOP has this passive, hands off, theory that while it looks good on the surface, has shown itself to be incredibly ineffective long term. Right now we need someone to control the economic downturn, put in real stopgaps to start the turnaround, and manage the economic upswing hopefully on the other side. This is not the time for more passive just-below-the-surface trickle down theory malarky.
yup, sounds like a plan to me.
As far as even the numbers the Bush WH puts out every one of those items have gone backwards -- the money "saved" from giving the tax cuts to the wealthy / corporations have gone into obscene bonuses, golden parachutes for massive failures of leadership, and personal enrichment...
The theory that "trickle down" works is offset by a very real human trait -- GREED.
This is McCain pandering for votes... so when this isn't received favorably can we look forward to another tantrum induced "suspension" of his campaign?
I'll bet somewhere in McCain's proposal, there is something about rolling back the Estate Tax.
http://thesebastards.blogspot.com/