[big campaign] MCCAIN SUPPORTS BUSH’S TAX CUTS FOR THE RICH HE ONCE OPPOSSED

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*MCCAIN SUPPORTS BUSH'S TAX CUTS FOR THE RICH HE ONCE OPPOSSED* McCain talks about the need to make Bush's tax cuts permanent. However, McCain once fought Bush's tax cuts that he now supports. In 2001, when Bush passed his tax cut package, McCain argued that the tax cuts that were skewed to benefit the wealthy over the middle-class. * * *"I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us at the expense of middle class Americans who most need tax relief." – John McCain [Senate Floor, May, 2001<http://www.nytimes.com/2008/03/03/us/politics/03mccain.html?ref=us> ]* * * *McCain Once Defended the Progressive Tax System He Now Attacks *Answering questions during a Hardball College Tour show in October 2000, McCain defended the progressive tax system when questioned by a town hall participant who warned that the high tax bracket of her father – a doctor – smacked of an inching towards "socialism and stuff." McCain said that progressive tax systems are based on the fact that "we feel, obviously, that wealthy people can afford more." He spelled out this response: "Here's what I really believe, that when you are -- reach a certain level of comfort, there's nothing wrong with paying somewhat more." [MSNBC, 10/21/08<http://firstread.msnbc.msn.com/archive/2008/10/21/1577609.aspx> ] * * *McCain Supports Bush's Tax Cuts For Millionaires but provides no relief for 100 million middle-class Americans. *McCain has repeatedly said the Bush tax cuts – which he once opposed – now must be made permanent. CNNMoney.com reported, "President Bush's tax cuts for investment income have significantly lowered the tax burden on the richest Americans, reducing taxes on incomes of more than $10 million by an average of about $500,000, according to a report Wednesday." [CNNMoney.com, 4/05/06<http://money.cnn.com/2006/04/05/news/tax_cuts/index.htm> ] *McCain's economic plans, like Bush's, put CEOs, multibillion dollar corporations, and lobbyists before American families*. · *McCain's economic plan does more for the Fortune 200 than American families*. Fortune 200 companies who would get $45 billion in tax cuts under McCain's economic plan according to a new report from the Center for American Progress Action Fund<http://thinkprogress.org/wonkroom/2008/06/26/fortune-200-report/>-- enough to lift 9 million Americans<http://www.americanprogress.org/issues/2007/04/poverty_report.html>from poverty. · *McCain, like Bush, offers billions in tax cuts for Big Oil, but no relief for families. *According to the Center for American Progress Action Fund <http://thinkprogress.org/wonkroom/2008/03/27/mccain-petroleum/> ,* *McCain's tax plan gives nearly $4 billion in tax breaks to the top five American oil companies, but gives families very little.* * · *With McCain's tax policy favoring corporations, American families lose out. *To pay for these tax breaks for the rich McCain will have to cut programs and services like early education, student loans, cancer research, affordable housing, and transportation by 30 percent – adding to middle class Americans' economic burdens when they are already facing a rising cost of living. * * · *McCain, Like Bush, Wants to Put Your Social Security Taxes at Risk by Privatizing Social Security. *Despite the stock market loosing trillions of dollars in retirement accounts in the last year, McCain wants to invest Social Security money in the stock market. According to his campaign website, "John McCain supports supplementing the current Social Security system with personal accounts." [McCain Campaign Website<http://www.johnmccain.com/Informing/Issues/0B8E4DB8-5B0C-459F-97EA-D7B542A78235.htm>, accessed 5/30/08] · *McCain's Economic Plan Was Called "A Corporate Special Pleader's Dream." *According to the *Washington Post*, "Much of what he detailed was a corporate special pleader's dream: a cut in the corporate income tax rate, from 35 percent to 25 percent, a proposal to allow businesses to write off the cost of new equipment and technology from their taxes, a ban on Internet and new cell phone taxes, and a permanent tax credit for research and development." [*Washington Post*, 4/16/08<http://www.washingtonpost.com/wp-dyn/content/article/2008/04/15/AR2008041502885_pf.html> ] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the "big campaign" group. 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