McCain Campaign on Tax Report: Yesterday Bad. Today Good.
Just an initial reaction to today's McCain campaign conference call with reporters. There was some discussion about the Tax Policy Center analysis of the two campaigns' competing tax plans, which found:
The two candidates' plans would have sharply different distributional effects. Sen. McCain's tax cuts would primarily benefit those with very high incomes, almost all of whom would receive large tax cuts that would, on average, raise their after-tax incomes by more than twice the average for all households. Many fewer households at the bottom of the income distribution would get tax cuts and those whose taxes fall would, on average, see their after-tax income rise much less. In marked contrast, Sen. Obama offers much larger tax breaks to low- and middle-income taxpayers and would increase taxes on high-income taxpayers. The largest tax cuts, as a share of income, would go to those at the bottom of the income distribution, while taxpayers with the highest income would see their taxes rise.
To be fair, the report does say that neither of the plans will really deliver everything they promise. However, Doug Holtz-Eakin, Sen. John McCain's senior economic adviser, said this about the report yesterday:
"There was a widely discussed report put out yesterday by the Tax Policy Center which was really an incomplete analysis. At the heart of what’s missing in that analysis is the impact of the tax proposals of Sen. Obama, by raising taxes on small business, by keeping taxes high on our corporations [and] driving jobs offshore."
And:
"The Tax Policy Center makes some fundamentally unrealistic assumptions."
And:
"The analysis is incomplete. It’s got an enormous amount of holes and ought to be taken with a grain of salt." [emphasis added]
Here's what McCain surrogate and former Rep. Rob Portman (R-Ohio) said today about the same report:
“It has been criticized by some."
Yes. It certainly has.
"But I do think it does have some very interesting analysis, including the fact that they say 10 million seniors -- this is about one in three senior households -- will see higher taxes as a result of Sen. Obama’s proposals."
And here's Holtz-Eakin, speaking today:
"I want to echo the comments Rob said about the TPC report really having some things that people should look at carefully. It says quite clearly, from a third party, independent organization, that compared to what we are doing right now, one candidate will raise taxes -- that’s Barack Obama, by $700 billion over the next 10 years -- and one candidate will cut taxes -- that’s John McCain. And it says that those tax cuts will [apply] to everybody, not a narrow band, because everyone will see their taxes lowered." [emphasis added]
Campaigning must have been a lot easier in the days before recording equipment...
Comments:
Posted 06/15/2008 05:01pm with
Read the truth on McCain’s economic plan…
Progressive Candidate John McCain comes through for America with his 3R economic plan. In the aura of Theodore Roosevelt, McCain’s plan just makes sense.
1. RETHINK: America must rethink the global views on what America is capable of in our current state of technology, engineering and the demands that face the world.
“RETHINK” in terms of re-action means to set forth this plan.
Most Americans know where the USA falls short in the ways of manufacturing and valuable jobs.
It’s time to meet the change of global demands with Made in USA quality and a new American workforce. Oddly enough, the framework is ready and waiting for this plan and active participation. The Progressive attitude of John McCain to get things done will resurrect America.
2. REFORM: America must rise to these demands and compete aggressively in a global economy. We must demand higher quality products and less restricted trade routes for Made in USA components.
“RE-FORM” is simple to comprehend as through John McCain’s Progressive attitudes, the USA will reform our manufacturing and hit it full steam ahead!
Made in USA has always meant highest quality products at moderate prices. The difference today is, we save loose change with Imported Chinese junk products, but few high paying jobs exist to do anything except buy the cheaper foreign-made products.
3. REINVENT: America and Americans must reinvent themselves to reach and maintain these standards and by sheer American ingenuity, control the world’s marketplace in the competitive manner, as we have always been proud to rule. Can you hear Theodore Roosevelt shouting this?
“RE-INVENT” is the exciting part of McCain’s 3R plan.
Americans in need of a future and without the desire, funding or free time to spend 2 to 8 years in college can go back to a re-invented manufacturing education. McCain’s formula allows these new students, young and old, to be paid a moderate paycheck while learning their new skills and leadership roles in hands on classrooms! Without costing taxpayers or the US government additional funds, we can literally change the face of America and the world.
Learning the skills required in order to become the American driving force behind new USA manufacturing boom, many Americans will also gain the skills to become the CEOs and leaders of their own USA Mfg arenas. Leading a group of people who love their new lifestyle is not difficult and Americans have been proving American ingenuity and leadership since Theodore Roosevelt’s Progressive Republican era.
Initial estimates of 1 in 5 students will go on to begin his or her own company and drive even more Americans into a viable lifestyle with real jobs, real benefits and a retirement to look forward to. Many students will combine forces and create successful joint ventures.
America has the means to follow through with John McCain’s 3R plan, ready and in place across the USA. The buildings we need sit vacant for the most part. America has millions of people screaming for new and improved jobs.
Senator McCain has provided the new guard for Social Security, the promise of retirement and the dreams that can be realized by Americans who would otherwise be lost or at the mercy of a dying workforce. This is the new workforce for American’s future.
By assuming leases on abandoned stores and factories across America with MC-3R schools and mini-manufacturing training centers, the USA made products can be sold and support the stores. Building owners write off the loss in taxes over a few years!
Although the thousands of new businesses manufacturing USA Made products is exciting enough, the real excitement comes from the massive amount of additional jobs that will be created to provide the new housing, new buildings, new parks, shopping, grocery stores, schools, government outlets and so much more.
The Key PROBLEM with the housing slump and the huge crude oil buy-out is not from greedy developers or greedy oil companies, but from the desire to locate and invest in the era’s best investments. Housing was #1 until the investment funds were pulled and crude oil took its place as a commodity. McCain will get us out of the mess that threatens the world’s economy.
These three R’s will be accomplished by the McCain express and through wealthy American entrepreneurs who were once able to invest in America’s manufacturing capabilities but have since fallen into investments that have caused catastrophic world economy failure.
McCain’s Progressive nature embodies Theodore Roosevelt more than any other US presidential candidate in history since.
We need John McCain to lead our nation.