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"Senator McCain plans a radical downsizing of government."
"Senator McCain wants to make government much, much smaller. His specifics on how are sketchy—eliminate earmarks, programs that don’t work, waste… But his tax day speech (http://www.johnmccain.com/Informing/News/Speeches/9bb4e69a-36cc-4ca3-b40d-0cdd41a1b812.htm - broken link) gives us an idea of how much he wants to shrink the government. A lot. And even more than when we last blogged on the subject back in February.
He proposes to make President Bush’s tax cuts permanent, repeal the AMT, double the dependent exemption, raise the estate tax exemption and lower its rate, make permanent the research credit, and suspend federal gas taxes this summer. He’d also cut the top corporate tax rate from 35 to 25 percent and allow companies to deduct machinery and equipment immediately, rather than amortizing them. He also plans to close corporate tax loopholes worth $30 billion per year.
Even with the loophole closers, these proposals would reduce federal revenues by about $5.7 trillion over ten years if they could be enacted immediately." SOURCE
So much for Balancing the Budget....
McCain will "increase the exemption -- with the goal of doubling it from 3,500 dollars to 7,000 dollars for every dependent, in every family in America."
"Even in this alternative reality, there’s a problem. Refiners run near capacity every summer as families rack up miles on family vacations. That’s one reason why gas prices jump in the summer. If McCain’s excise tax cut translated into lower prices, we’d all want to drive more, which would push up the demand for gasoline. Since the refiners can’t produce much more without building new refineries, the price has to go back up.
Higher prices might stimulate a little more production and we might import more gasoline from our neighbors. But the price will have to increase by almost the amount of the tax cut. Otherwise, there will be shortages. Unless the plan’s aim is to boost short-term profits for petroleum refineries, the proposal makes no sense."
Which portion of Senator McCain's tax policy or plan, makes the most sense?
Senator McCain's website - "Americans do not resent paying their rightful share of taxes"
Hmm...Ron Paul supporters may have a thing or two to say about that.
I don't resent paying my rightful share of taxes. I do not mind paying taxes that fund police and schools and roads and sunshine and lollipops. I DO mind paying taxes on needlessly large government and government programs, especially when all they do is screw things up and cost us even more in the long run. So the question everyone is asking: what is their rightful share?
'Course if government shrinks, then the need for all that extra tax does too. And compared to Obama, who wants to increase the size of government bigger than the fat guy at the mcdonalds supersize line... shoot, so much for reducing that deficit eh?
I don't resent paying my rightful share of taxes. I do not mind paying taxes that fund police and schools and roads and sunshine and lollipops. I DO mind paying taxes on needlessly large government and government programs, especially when all they do is screw things up and cost us even more in the long run. So the question everyone is asking: what is their rightful share?
'Course if government shrinks, then the need for all that extra tax does too. And compared to Obama, who wants to increase the size of government bigger than the fat guy at the mcdonalds supersize line... shoot, so much for reducing that deficit eh?
Obama has always said he would budget according to a federal PAYGO program and encourage the states to do the same. He's said repeatedly, if we can't afford something, we won't buy it, simple as that.
Understanding PAYGO: Questions and Answers - Home - OMB Watch (http://www.ombwatch.org/article/articleview/3763 - broken link)
Obama has always said he would budget according to a federal PAYGO program and encourage the states to do the same. He's said repeatedly, if we can't afford something, we won't buy it, simple as that.
Understanding PAYGO: Questions and Answers - Home - OMB Watch (http://www.ombwatch.org/article/articleview/3763 - broken link)
I know that's what he says. I believed him too early on, and even voted for him in the primary. Then I learned about his policies (once they came out) and figured out what he wasn't saying. What he really wants is to socialize the economy and pay for all of his bogus government intervention programs that way. He's been saying "redistribution of wealth". That is socializm, and not what's going to fix things.
Obama has always said he would budget according to a federal PAYGO program and encourage the states to do the same. He's said repeatedly, if we can't afford something, we won't buy it, simple as that.
Understanding PAYGO: Questions and Answers - Home - OMB Watch (http://www.ombwatch.org/article/articleview/3763 - broken link)
Then he's going to have to either cut defense spending or social programs. Earmarks are a tiny percentage of the budget. Healthcare will never be passed.
And no, I don't think the Federal government needs to be involved in our lives as much as they are. I think our states, counties, and towns/cities can do a lot of things better and more efficient than one large government entity. However, that requires diligence and involvement from an educated public. We have to change the individuals that are a part of the system if we want to change the system.
McCain and the GOP... spend and spend and spend.....
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