View Full Version : McCain Changes Story on Tax Cut Stance
red states rule
02-05-2008, 05:47 AM
So much for the "Straight Talk Express" - McCain can't keep his lies straight
snip
WASHINGTON (AP) - Republican John McCain says he opposed President Bush's tax cuts because they didn't come with spending cuts. That is not what he said at the time.
In a presidential debate on Wednesday, McCain said he voted against the Bush tax cuts because he wanted to rein in spending.
"I disagreed when we had tax cuts without spending restraint," the Arizona senator said.
The explanation fits with his history of railing against wasteful federal spending. But it does not fit with McCain's comments when he opposed the Bush tax cuts in 2001 and 2003.
In 2001, McCain said the tax cuts favored the wealthy at the expense of the middle class. In 2003, he said there should be no tax cuts until the Iraq war costs were known.
http://apnews.myway.com/article/20080131/D8UH1CF80.html
If you did not know it was John McCain making these statements, you would think it was Ted Kennedy, Pelosi, or Harry Reid
Classact
02-05-2008, 07:40 AM
The talk shows and the Democrats have been making fun of him for his "Strait Talk Express". Bob Dole was on Hanity last night and couldn't even explain or put into words why he supports the puke.
red states rule
02-05-2008, 07:44 AM
The talk shows and the Democrats have been making fun of him for his "Strait Talk Express". Bob Dole was on Hanity last night and couldn't even explain or put into words why he supports the puke.
It is more like the Liberal Shit Talk Express
The nerve of the conservatives talk show hosts bringing up his past votes and comments.
Must be another vast right wing conspiracy
truthmatters
02-05-2008, 07:58 AM
You hate McCain huh RSR?
hahahahahahahahah.
You hate your only real chance at keeping the white house?
Take a look at who you wanted to be president and realize just how fring your ideas are.
red states rule
02-05-2008, 07:59 AM
You hate McCain huh RSR?
hahahahahahahahah.
You hate your only real chance at keeping the white house?
Take a look at who you wanted to be president and realize just how fring your ideas are.
Unlike libs, I do not hate anyone. McCain is a liberal and I only want him defeated - nothing else
He has been proven wrong on so many issues - like liberals - yet he continues down the same failed path.
Like libs, he wants to silence those who dare to disagree with him
No wonder you people on the left love him so much
red states rule
02-05-2008, 08:02 AM
I will email these facts about the Bush tax cuts to McCain's website
He should read them and learn from them
Ten Myths About the Bush Tax Cuts—and the Facts
Myth #1: Tax revenues remain low.
Fact: Tax revenues are above the historical average, even after the tax cuts.
Myth #2: The Bush tax cuts substantially reduced 2006 revenues and expanded the budget deficit.
Fact: Nearly all of the 2006 budget deficit resulted from additional spending above the baseline.
Myth #3: Supply-side economics assumes that all tax cuts immediately pay for themselves.
Fact: It assumes replenishment of some but not necessarily all lost revenues.
Myth #4: Capital gains tax cuts do not pay for themselves.
Fact: Capital gains tax revenues doubled following the 2003 tax cut.
Myth #5: The Bush tax cuts are to blame for the projected long-term budget deficits.
Fact: Projections show that entitlement costs will dwarf the projected large revenue increases.
Myth #6: Raising tax rates is the best way to raise revenue.
Fact: Tax revenues correlate with economic growth, not tax rates.
Myth #7: Reversing the upper-income tax cuts would raise substantial revenues.
Fact: The low-income tax cuts reduced revenues the most.
Myth #8: Tax cuts help the economy by "putting money in people's pockets."
Fact: Pro-growth tax cuts support incentives for productive behavior.
Myth #9: The Bush tax cuts have not helped the economy.
Fact: The economy responded strongly to the 2003 tax cuts.
Myth #10: The Bush tax cuts were tilted toward the rich.
Fact: The rich are now shouldering even more of the income tax burden.
http://www.heritage.org/Research/Taxes/bg2001.cfm
truthmatters
02-05-2008, 08:08 AM
http://query.nytimes.com/gst/fullpage.html?res=9B05E5DE1F31F93BA35755C0A9629C8B 63
Reagan raises taxes and did Amnesty.
these are facts.
What you want is pretty much a Fantasy which never exsisted and for good reason, It would screw us up even worse than we are now.
red states rule
02-05-2008, 08:11 AM
http://query.nytimes.com/gst/fullpage.html?res=9B05E5DE1F31F93BA35755C0A9629C8B 63
Reagan raises taxes and did Amnesty.
these are facts.
What you want is pretty much a Fantasy which never exsisted and for good reason, It would screw us up even worse than we are now.
Pres Reagan was wrong on amnesty - one would think libs would learn from history
Pres Reagan came in and cut taxes across the board and guess what - revenues DOUBLED in his 8 years
Today, tax revenues are at record highs - with tax CUTS. The "rich" are paying MORE in taxes after the tax CUTS
These are facts that drive liberals nuts - and facts that McCain seems to want to ignore
truthmatters
02-05-2008, 09:11 AM
Ronald Reagan does hold a special place in the annals of tax policy, and not just as the patron saint of tax cuts. To his credit, he was more pragmatic and responsible than that; he followed his huge 1981 tax cut with two large tax increases. In fact, no peacetime president has raised taxes so much on so many people. This is not a criticism: the tale of those increases tells you a lot about what was right with President Reagan's leadership, and what's wrong with the leadership of George W. Bush.
The first Reagan tax increase came in 1982. By then it was clear that the budget projections used to justify the 1981 tax cut were wildly optimistic. In response, Mr. Reagan agreed to a sharp rollback of corporate tax cuts, and a smaller rollback of individual income tax cuts. Over all, the 1982 tax increase undid about a third of the 1981 cut; as a share of G.D.P., the increase was substantially larger than Mr. Clinton's 1993 tax increase.
red states rule
02-05-2008, 09:14 AM
Ronald Reagan does hold a special place in the annals of tax policy, and not just as the patron saint of tax cuts. To his credit, he was more pragmatic and responsible than that; he followed his huge 1981 tax cut with two large tax increases. In fact, no peacetime president has raised taxes so much on so many people. This is not a criticism: the tale of those increases tells you a lot about what was right with President Reagan's leadership, and what's wrong with the leadership of George W. Bush.
The first Reagan tax increase came in 1982. By then it was clear that the budget projections used to justify the 1981 tax cut were wildly optimistic. In response, Mr. Reagan agreed to a sharp rollback of corporate tax cuts, and a smaller rollback of individual income tax cuts. Over all, the 1982 tax increase undid about a third of the 1981 cut; as a share of G.D.P., the increase was substantially larger than Mr. Clinton's 1993 tax increase.
Then how do you explain the record tax revenues pouring into DC after the Bush tax cuts?
Or how the "rich" are paying more in taxes after the tax cuts?
Or how capital gains tax money has increased after the tax cut?
Pres Reagan did raise taxes, but Dems promised to cut spending in exchange- they did not
truthmatters
02-05-2008, 09:39 AM
Can you document these facts?
http://www.centrists.org/images/charts_and_graphs/budget_1998-2003.gif
red states rule
02-06-2008, 06:21 AM
Can you document these facts?
http://www.centrists.org/images/charts_and_graphs/budget_1998-2003.gif
On President Reagan:
Many critics of reducing taxes claim that the Reagan tax cuts drained the U.S. Treasury. The reality is that federal revenues increased significantly between 1980 and 1990:
Total federal revenues doubled from just over $517 billion in 1980 to more than $1 trillion in 1990. In constant inflation-adjusted dollars, this was a 28 percent increase in revenue.3
As a percentage of the gross domestic product (GDP), federal revenues declined only slightly from 18.9 percent in 1980 to 18 percent in 1990.4
Revenues from individual income taxes climbed from just over $244 billion in 1980 to nearly $467 billion in 1990.5 In inflation-adjusted dollars, this amounts to a 25 percent increase.
http://www.heritage.org/Research/Taxes/bg2001.cfm
On the Bush tax cuts increaseing revenues to the government:
Meanwhile, tax revenues continue to roll into the Treasury and state coffers. Federal receipts rose by 14.6% in fiscal 2005, another 11.8% in 2006, and kept rising by 9% in this year's first two months despite slower GDP growth. The budget deficit, in turn, has fallen by $165 billion in two years, and including state surpluses is now down to about 1% of GDP, which as an economic matter is negligible. Tax revenues as a share of the economy are also back above 18.5%, which is their modern historical norm.
http://www.opinionjournal.com/weekend/hottopic/?id=110009489
On the increase in revenue from the capital gains tax cut:
Capital Gains Tax Cut Generated More Revenue to Federal Government
WASHINGTON — Despite claims by opponents of capital gains tax cuts, the 2003 reduction on capital gains fully paid for itself and more. A new analysis released today by the non-partisan Congressional Budget Office (pdf ) (CBO) shows capital gains increased 51.1 percent from calendar year 2002 through 2004, far surpassing the forecast by an astonishing $45 billion over three years. This should come as no surprise since history has repeatedly demonstrated a capital gains tax cut is one of the few tax cuts which produce more tax revenue following a rate cut.
http://www.atr.org/content/pdf/2006/jan/013006pr-asa-capgains.pdf
Any questions TM?
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