McCain Offers Tax Policies He Once Opposed

On May 26, 2001, after then-Sen. Lincoln D. Chafee (R.I.) cast his vote against President Bush's $1.35 trillion tax cut, he trudged back to his office, convinced, he recalled, that he had been the lone Republican to oppose the largest tax cut in two decades.

But Chafee's staff told him that one other Republican, who had largely avoided the grueling efforts at compromise, had joined him in dissent. That senator, John McCain, was marching to his own beat, Chafee said, impervious to pressure from either side.

Now that he is the presumptive Republican presidential nominee, however, McCain is marching straight down the party line. The economic package he has laid out embraces many of the tax policies he once decried: extending Bush's tax cuts he voted against, offering investment tax breaks he once believed would have little economic benefit and granting the long-held wishes of tax lobbyists he has often mocked.

Read the whole story here.

Comments

[UnbiasView]

If McCain wants to keep the Bush tax cuts going that is fine with me, it would also be fine with me if he let them expire for the highest income bracket.

Next time Obama/Hillary says that the Bush tax cuts are only for the rich you know they are lying, unless they consider someone making $30,000 a year rich.

The Bush tax cuts are the only good thing that he has accomplished, everyone out there takes home 3% more than they once did.

Example:

$30,000 Household brings home $900 more with the BTC.
$50,000 Household brings home $1,500 more with the BTC.
$100,000 Household brings home $3,000 more with the BTC.

[milo9]

He's worse, how many times can he sell his hero card?

[BeyondGoodAndEvil2]

Oh another incident of McCain doing a backflip. How surprising.

[Tom95134]

McCain's approach is simple, "Just leave the money on the bed."

[ronspri]

Flip....Flop

Can't raise taxes in a recession. Of course if things were good that would mean things were going swimmingly and we certainly couldn't raise taxes then either...Why raise taxes on the wealthy when we can just borrow it and force the working class to pay the difference. They will just have to do it longer, for generations.

[iPolitics]

You won't see it on loop at MSNBC, CNN, or Faux News. Gutless.

[rollingdivision]

Then, McCain didn't vote for the Bush tax cuts because they didn't require matching spending cuts. Now, McCain thinks removing the Bush tax cuts is the same as raising taxes, it is. And with the economy slowing and possibly entering a recession it is not a good idea to raise taxes at this time. When the facts changed McCain has reevaluated and changed his position. What do you do when the facts change?

[ejay579]

McCain does not have the intelligence to determine what the ramifications of any tax cut or tax increase would be. He is now merely reciting the right wing mantra to get elected.