McCain: Obama's Tax Policies Are Socialist

CONCORD, N.C. — Republican presidential candidate John McCain on Saturday accused Democratic rival Barack Obama of favoring a socialistic economic approach by supporting tax cuts and tax credits McCain says would merely shuffle wealth rather than creating it.

"At least in Europe, the Socialist leaders who so admire my opponent are upfront about their objectives," McCain said in a radio address. "They use real numbers and honest language. And we should demand equal candor from Sen. Obama. Raising taxes on some in order to give checks to others is not a tax cut; it's just another government giveaway."

McCain, though, has a health care plan girded with a similar philosophy. He proposes providing individuals with a $5,000 tax credit to buy health insurance. He would pay for his plan, in part, by considering as taxable income the money their employer spends on their health coverage.

McCain leveled his charge before a pair of appearances aimed at restoring his lead in critical battleground states. In both North Carolina and Virginia, where McCain was to speak later in the day, his campaign has surrendered its lead to Obama in various polls. President Bush, a Republican, won both states in 2004.

During a rally outside Charlotte, N.C., McCain returned to the socialism theme, although he did not use the more tart language of his radio address.

He also was sharply critical of the Bush administration, saying it should be more aggressive in buying up the home mortgages of those trapped by high interest rates and falling housing values.

"The administration is not doing it. The secretary of the Treasury is not doing it," McCain told the crowd. "We need to buy up these mortgages, give you a mortgage that you can afford, so you can pay your mortgage and realize the American Dream of owning your home."

McCain stoked the crowd by accusing Obama and his fellow Democrats of assuming they will not only win the White House but expand their congressional majority.

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"Did you happen to see that Speaker (Nancy) Pelosi anticipates a 250-seat majority" in the House, the senator asked. "My friends, we can't let that happen. My friends, taxes will increase, spending and they'll concede defeat in Iraq."

The last Democratic candidate to win North Carolina was Southerner Jimmy Carter in 1976, when the Republicans were reeling from President Nixon's resignation following the Watergate scandal. Virginia has not voted for a Democratic nominee since President Johnson's landslide victory in 1964.

McCain's drop in the state polls follow larger national trends that have given Obama a lead following Wall Street chaos that focused the race on who is best equipped to restore the economy.

On Sunday, McCain was to travel to Ohio, where he might appear with "Joe the Plumber," the Holland, Ohio, plumber Joe Wurzelbacher whom the senator has been portraying as emblematic of people with concerns about Obama's tax plans.

Wurzelbacher became the focal point of the final presidential debate after he met Obama earlier in the week and said the Democrat's tax proposal could keep him from buying the two-man plumbing company where he works. However, reports of Wurzelbacher's annual earnings suggest he would receive a tax cut rather than an increase under Obama's plan.

Obama has said his tax policies would cut payments for 95 percent of working Americans, while increasing them only for families making more than $250,000 a year. McCain has argued that 40 percent of Americans don't pay income taxes, either because they are seniors or don't meet minimum earnings thresholds, so the only way to cut their taxes is to give them various credits.

"In other words, Barack Obama's tax plan would convert the IRS into a giant welfare agency, redistributing massive amounts of wealth at the direction of politicians in Washington," McCain said in the radio address.

An Obama spokesman did not immediately respond to a request for comment.

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On the Net:

McCain campaign: http://www.johnmccain.com/

Obama campaign: http://www.barackobama.com/index.php

Comments

[Viper]

The repugs have been given the same economic message for 30 years.. and look where it got us!

Not one positive economic change in 30 years or in education or in exports or in Debt or in wages except for the top 2 percent... every indicator down... lets do more of the same!

Repugs give us the positives. Facts, numbers... reality!

Regards

[goulet]

$250K a year doesnt make you rich. It all depends on your circumstances. If you are single, make $250K a year and live in a studio apartment in Iowa, you will be filthy rich.

If you make $250K a year as a family, live in the NYC area, own a home and have a family, you are not rich. May be hard for some of you to hear who live in hicksville, but its true.

By the way, I love how Obama makes it sound like you can make up to $250K INDIVIDUALLY without having your taxes raised. It is in fact per household. So for all of you dual income rich family's, dont individually make over $125k. That adds up to $250K and your rich family will be taxed with the "wealthy".

[bob8788]

Now make McCain's tax policy make sense to me if you can, you sound like you have a wealth of info

http://www.barackobamacans.blogspot.com/

[NoMoFearNoMoHate]

$250,000/year sounds plenty wealthy from this household - sounds to me like you're letting out a big "whaaaaaaa". I'm sure that extra 3% increase will make you cut short the two-week family vacation to Disney World... boo hoo! Maybe you'll even have to let your illegal immigrant house-worker go - oh no!

Meanwhile our country squanders in debt caused by Republican ideals endorsed and even promised to be enhanced by John McCain.

[Viper]

No one is saying 250K is rich.. certainly over a million a year is. However the middle class needs a tax cut and if its not paid for by some one... then the debt goes up and the dollar is devalued more and you get a bigger hidden tax increase.

How did you survive under Reagan and Clinton.. when the tax rates were what Obama is proposing now for those making over 250K?

It was upto 90% under IKE .. and 70% under Nixon.

Regards

[BinKbar]

No President can raise or lower taxes without Congress. Remember all money bills start in the House. BTW Ike , Nixon and Reagan had Democrat controlled Congresses.

[John51]

I believe everything you earn over $250,000.0­0 will be taxed at a rate 3% higher that that which is less than $250,000.0­0. In your case, living in NYC, you would gain a better return on your efforts if you attacked your local taxing authorities. Are you aware that the surplus that Bush gave back to the rich in the form of a tax cut was money that the middle class had paid in, in advance, for their social security benefits. Foreseeing that there would be fewer workers to pay the social security tab when the baby boomers retire, the social security taxes were increased (under Reagan) so that there would be money to put aside now to make up for the shortage later. Pres. Clinton respected that fund and left the surplus unspent. Pres. Bush immediately distributed the funds to the rich in the form of tax cuts. McCain knew this and objected only to reverse himself during his campaign. We have had socialism in this country for centuries but the redistribution has been, for the most part, upward. The recent Bail-Out was the largest redistribution of wealth upward in recorded history. I think it is about time the middle class began taking care of themselves and not the rich.

[lisakaz2]

Puleeeze. Try making it on less than $50K a year. Heck I worked in NYC for several years and never earned even $30K.

[starboymikey]

When the middle class and poor pay taxes which are given to the wealthy, it's the American way.

When the wealthy are asked to pay a bit more to support the system that made them wealthy, why then it's Socialism.

[phughez]

Wake up John--we live in a Socialist country, thanks to capitalism run amok. The rich are the only ones benefitting from capitalism, and now they're benefitting from the socialism you helped create. The questions has always been, what does government have to do with social equality--or inequality? Capitalism vs. socialism is irrelevant. The fogs of the past cannot save us.

[Viper]

What BUSH and McCain push is not capitalism­.. its laisez faire captalism which no one else in the world practices and has failed every time its tried historical­ly..

They dont even know the definition of socialism.

For 30 years we have been heading toward their newest run at Laisez Faire trickle down capitalism and under BUSH they got 100 percent of what they wanted and look at the result!

Nnow pls show me any difference in McCains policies..­. NONE. Palin could not site a difference. McCain cant site a difference.

Regards

[prdbldngheart]

More fear and hate mongering. What's sad is that many will fall for these tactics without ever once checking a single fact.

BTW, my aunt, in her day (she's long dead) was a socialist. Every four years she voted for President as was her right. Who the people of this country elect is up to them, not the opposition.

[fedupinpa]

let's get rid of all socialist programs in this country. None of them do any good. Like public education, fire protection, police protection, federal highways, the FBI, airports, the military, etc.

[MoeJava]

Isn't this the Libertarian stance on things?

[fedupinpa]

hope you realize I was being sarcastic.

[Myshkin57]

But 'Socialism' is a dirty word. I've been told over and over that anything that's socialist is evil. That must be true!

[John51]

Don't forget the public funds mc_cain gets to run his campaign; his campaign is run on the public dole whereas Sen. Obama's is run on private contributions from individuals. I resent having to support the mc_cain campaign with my tax contributions. there should be conditions attached to spending our tax funds for ones election; the recipient should be required to be truthful in their ads when spending the public's money. I would like to see an ad paid for by the public disclose the source of the campaign funds; maybe the ad could end with, "I am mc_cain and would like to thank our socialist government for my lunch money."

[goulet]

I'm sure that everyone is aware that there is and always has been a box to check on your IRS tax return that allows you to pay an extra amount in taxes each year. I assume that those on this sight that are doing well have been sending extra money to the government each year. Not charty. The government. Dont say that you havent been. Obviously, the government is a well oiled machine of accountabiltiy and they should distribute your money, or misplace it, to whomever they please.

[Viper]

So we can pay more and BUsh give it to his cronies or invade countries that are no threat or then give it back in more tax cuts to the wealthiest since the Government having a surplus is a bad thing in McBush economics.­..


Sorry if you are not going to pay for your failed economic policies..­. dont expect others to... Did you send any money to all those Wallstreet firms or banks when they needed more money?


Regards

[susie1776]

Well, if being a socialist means wanting EVERYONE to have a piece of the American dream,,,then sign me up! If I'm fortunate enough to make $250,000 a year, I can afford to pay back a little more so that my neighbor who works just as hard can maybe have a little more too. See, that;s the difference between being a Democrat or a Republican. Democrats are willing to share. For Republicans it's all about ME, ME, ME.

[fedupinpa]

Doesn't the constitution start out "We the people" not "we a group of individuals" or "me me me"

[Gary47]

Well, we've had socialism for rich folks and for big corporations (and Senators) for decades. Gee, weird how the middle class wants some. You are toast, John-boy.

[Myshkin57]

Maybe... but McCain's not a socialist.­.. he's a sociopath.

[lacrossedad]

Most of the people supporting Barry dont even pay taxes. He has them beliving that he will be handing them free money.

[Gary47]

Wow, you've been hanging out in an information-free zone for a little too long.

[Viper]

So 51% of Americans dont pay taxes.... I paid 240K last year.. How about you?

You forget the majority of repug voters are low information voters w/o college educations­... You have the greedy bunch, then the those that use the sheeple and then fleece them.

Regards

[John51]

Is that working Americans or ....? Please cite a source if available.

[MaryanneAZ]

I assume you are referring to "Earned Income Credit." Education is a good thing. A simple Google search will inform you that: "The United States federal Earned Income Tax Credit (EITC) is a refundable tax credit that reduces or eliminates the taxes that low-income married working people pay (such as payroll taxes) and also frequently operates as a wage subsidy for low-income workers. Enacted in 1975, the then very small EITC was expanded in 1986, 1990, 1993, and 2001 with each major tax bill, regardless of whether the tax bill in general raised taxes (1990), lowered taxes (2001), or eliminated other deductions and credits (1986). Today, the EITC is one of the largest anti-poverty tools in the United States (despite the fact that income measures, including the poverty rate, generally do not account for the credit), and enjoys broad bipartisan support." McCain and his cronies, along with the Bush administration, have had years to eliminate this tax benefit. I'd say McCain has some 'splaining to do, ya betcha!

[Independent-for-Obama]

McCain's tax policies are welfare for the rich.

[naschkatze]

Yes, he has no ground to stand on. "Privatize profits and socialize losses." That's the Republican way.

[MoeJava]

He just wants every other rich American to preserve their endangered way of life.
The Rich are far too entrenched in their lives of luxury and contentment, to possibly be traumatized by the way the bottom 95% actually lives.
I wish I could feel their pain but I'm too busy trying to make ends meet.

[NoMoFearNoMoHate]

Obama's proposed taxes wouldn't even be lint in the pocket of those that he proposes a tax increase upon - what they object to is the notion that they, individually, aren't absolutely in control. What they don't understand is that WE tell the government what to do. Not me, not you, but we. THAT is who the government answers to. The government is not answerable to any individual person but the people of the United States.

And do you know what the mother of all socialist policies is? Democratic government itself.

[John51]

I totally agree; I wish there were some way to reach McCain's supporters on these issues. They are, once again, voting against their best interest.

[kadene]

The GOP campaign messages, judging from the level of inanities, are based on an assumption that the majority of Americans are dunces from small towns, who have no knowledge of history or current events, who only watch FOX TV, and who will believe any of their crap to get McCain and Palin elected. Let's see how correct their assumptions are.

[Gary47]

There was a slight majority the past two elections, but we all hope and pray that things are different this time.

[MaryanneAZ]

Or Diebold made it look that way.

[NoMoFearNoMoHate]

A slight majority of VOTERS.

[dadw5boys]

90 % of Businesses pay less than 5 % in taxes. GAO REPORTS !!!!!!!!!!!

[MoeJava]

Also consider this: some states allow "small business tax credits" which usually "washes" what you owe. If your small business makes under benchmark levels, you can possibly NEVER pay taxes because the credit offsets 100% of your tax liability.

[BinKbar]

How many are Sub 'S' and how many are 'C' Corps?

[annschneider1]

I'll tell you what my new theory on Socialization is. I no longer will socialize with Republicans. Their hate is now palpable and I am not getting close enough for it to wear me down. Lies and hate, that's about it for them.

[Gary47]

Excellent! Socializing with repubs is down near the bottom of my list of things to do - somewhere below cleaning the toilets.

[camanokat]

I'm with you. I've cut ties with all repubs even family. They are delusion and I am convinced they are truly mentally ill.

[obama4president-now]

Actually, it is the IRS tax code that is socialist. You have two choices on the redistribution of wealth:

1. Redistribute to the top 5% of the country = vote John McCain and Republican.

2. Redistribute some of the wealth to 95% of the country = vote Barack Obama and Democrat.