They're Lying
The debate over the economy swung into high gear today as both presidential candidates gave speeches on the topic. That's as it should be: let this critical debate begin.
What's not okay is that one candidate -- John McCain -- and his team are making up damaging stuff that directly contradicts policies Obama has been crystal clear about.
When it comes to taxes, Obama has drawn a firm line in the sand at $250,000. He cuts taxes for the vast majority of families -- more than 95% -- and raises taxes only on those with incomes above $250,000. Whether its income taxes, payroll taxes, capital gains, or stock dividends, his plan does not raise taxes on anyone below $250,000. He articulated this point today: "...if you're a family making less than $250,000, my plan will not raise your taxes -- not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes."
Yet, from McCain's speech today: "If you believe you should pay more taxes, I am the wrong candidate for you. Senator Obama is your man. The choice in this election is stark and simple. Senator Obama will raise your taxes."
His top advisor, Doug Holtz-Eakin released a memo implying Obama would raise taxes on low-income families, those "making as little as $32,000 a year," a claim based on Obama's support for the Senate Democratic Budget resolution which contained no individual tax increases actually cut taxes for middle-class families.
McCain's "Jobs First" economic plan says: "If you are one of the 23 million small business owners in America who files as an individual rate payer, Senator Obama is going to raise your tax rates." But 99% of individuals with small business income make less than $250,000, so they won't see their taxes go up at all. In fact, Senator Obama has proposed a new 0% capital gains rate for small business and start ups -- it's McCain that would continue to tax small business capital gains at 15%.
McCain and Obama have very different economic plans, particularly regarding tax policy (read about them here). They have every right to go forth and build support for their plans and attack the other guy's. But this is not the way to do it. If McCain and his staff persist in twisting the truth like this, there can be no decent debate. It's a terrible disservice to the electorate and an abrogation of anything resembling straight talk.
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The Republicans will do anything and say anything to keep their power. They don't care if it's true,distorted, false or irresponsible. For the last 8 years in the White House and 12 of the last 14 years in the U.S. Congress, the Republicans have had control. And look at the state of affairs in this country. And I believe that this administration did give tax breaks to the wealthy, the same as proposed by John McCain. And that has really given us a balanced budget, hasn't it. Let's drill for oil all over this land, as John McCain proposes, and give great tax breaks to the oil corporations that are doing the drilling. That's the Republican way. People in this country want change. People want real solutions to our problems, not empty, divisive, "pie in the sky" rhetoric. We are tired of being victimized. ENOUGH!
Guys, guys, guys.... there are more taxes out there than those that impact your payroll directly. Obama has just talked about how he wants to offer another stimulus package... ok fine. Also a "fund" to help states hardest hit by the economic downturn... great. And, of course, help for those who allowed themselves to be morgtaged to the hilt and are now in danger of losing their homes...okie dokie. Where is all this money going to come from? Taxes, of course. It may not be your income taxes going up, but tax somewhere WILL be going up. And to lay it off in the laps of those making over $250,000 is inherently bogus. That won't cover nearly what he's proposing.
Is McCain spinning? Of course. But so is our guy. If you don't think so, I think you're being a bit naive.
Taxes pay for more than social programs. You like have a military that defends you, yes? Why do people always mention that those tax hikes are going to pay for poor people? They do not consider what else it pays for.
For instance, around $450 BILLION goes to service multi-trillion dollar deficits begun under stellar Republican Ronald Reagan. You know, they guy that did not even know what his underlings were doing because he was asleep at the wheel.
Just imagine that Bush II has almost doubled the deficit in less than eight years. Reagonomics, Bushanomics. FAIL. And yet, poor people (and that includes you middle-class America) only think about their taxes going up while voting against your best interests. And hence, America's best interests.
After all, America is not a corporation. You have voted to make us one. You FAIL.
Have you read the Constitution concerning the military. Congress has the power to raise, equip and fund the military. Congress is not given the power to take my money and give it to you! Thus, it is not a social program, but a service which our Founders realized would have to be provided to the country.
Semper fi
Obama never said he would balance the budget in his first term, so sorry, no, Obama isn't spinning
I have seen the Cong. Budget analysis... Under Obama.. if you make 75K/200K you pay less taxes. Under McCain you pay much less taxes if you make even $2.9 million. McCain himself would pay $400K less!!
The wealthy pay a huge percentage of taxes.. because they are the only ones after the past 30 years who can. And yes by significant increases on them for that reason, you do pay the tax cuts to those below 250K. McCain raises taxes on no one; thus his cuts to himself of 400K go unpaid.
I make over $250K. I would rather not pay more taxes.
The BUSH deficits have reduced the dollar 62% and thus taken 62% of my wealth. The stock market is at LT half in real dollars of what it was in 2000.
Losing in buying power 50%, is in reality a huge tax increase we allI ended up with under BUSH. Only a fool would still think they got a real tax cut. In reality we paid a lower tax rate on non existant gains... thus a very REAL large tax increase.
More of the same will not produce any different results.
BUSH tax cuts ended up invested not in America but in low wage countries where investors could get a higher return. When those plants were built, 4 million jobs from here went there. They did not stimulate our country, but China's and etc., did not pay for themselves and thus the huge deficits.
And yet there are still Neocon supporters out there.
I think you are correct. I would like to see Obama call out McCain publcly. Sadly, he is a Democrat and they DO NOT know how to fight.
If you do not believe me, just look at congress.
how about the money comming from the war in Iraq...when we leave we wont be spending trillions...............part of that money can lower the deficit and the other to pay for his non-tax programs. you might try to listen with open ears..
oh did I mention Obama IS going to tax the RICH.... that is only 5% of our total population.........95% of us will NOT be taxed..and senior citizens on Social Security wont be taxed either.
Now THATS CHANGE........get use to it
We don't have the money we are spending in Iraq. When we stop spending it, it won't be there anymore.
Obama is the one that is not honest, the middle class will pay more, that is just the way economics works. While it is all well and good that he thinks he will only raise the taxes on the rich, the bottom line will be that his tax policies will decrease revenues, and the only Obama will see to raise revenue will be to raise taxes on lower income levels.
Wrong, we had higher tax rates and higher revenue as a percentage of GDP during the 90's go peddle your flawed supply side garbage elsewhere, loser
And you would be wrong yet again. Where do you guys come up with such garbage numbers?
The bottom line is we have had record revenue going into the United States treasury, but Congress has spent even more. Neither party seems to want to get control of the budget process, but rather blame the other party.
The bottom line is that we could have 100% tax rates and Congress would spend more, spending is the problem, not tax rates.
Photofarm is one of the fools I mention who does not realize that under BUSH we all got the largest tax increases in history as the result was a 62% devaluation of the dollar and a stock market thats below where it was when he came into office and adjusted for currency devaluation, its less than half! Worse the tax cuts went offshore as did the REAL tax in loss of real networth also went offshore.
Regards
One of the real moves that should take place is the elimination of the Bush tax breaks to the Rich. Believe me, I do not HATE the rich, however, I see all of their money trickling down for yatchs, personal airplanes and offshore in USA businesses.
Lowering taxes on the rich didn't make my tax burden any less, why would lifting the tax break for the top 2% make mine go up? Please elaborate.
I didn't say your tax burden would go up, but to think you wouldn't pay more to the economy is the problem.
And your support for your arguments are ?
The fact is that neither Bush's nor Reagan tax cuts ever brought it more revenues, BASED on a per capita basis. Revenues did go up as the population and GDP increased. In fact, the biggest revenue increases were after the Bush (read-my-lips) tax increase and the Clinton tax increase.
http://krugman.blogs.nytimes.com/2008/01/16/taxes-and-revenues-another-history-lesson/
The problem Republicans and McCain have is that they do not talk of sweeping tax cuts. The way I see it, if you are going to take 15% of my money you better tell me you will spend it on something.
At least Obama says he will spend it on things, healthcare in education.
Only Bob Barr talks of real deep tax cuts. Then says he will not spend it. That is a position. McCain has no position.
Actually I think his answer for education (free coledge for teachers) is good. I'd like to see him do the same for health care professionals(nurses doctors technicians).
Flood the market with doctors competing for patients ... teachers competing for students ... can't see anything but positve there.
Obviously, McCain is speaking to his audience. For them a $250,000/year income doesn't even get you in the door. So, technically speaking, his claim, "If you believe you should pay more taxes, I am the wrong candidate for you. Senator Obama is your man. The choice in this election is stark and simple. Senator Obama will raise your taxes." would be correct.
However, for the rest of us (the other 95%) it's no worse than it is now. You can't run a country on constant borrowing any more than you can run a company that way. Well, unless you count Enron - but we saw what happened there (those making far less than $250,000 got screwed), and it can happen to our economy as well.
Ever think that this is the plan? Bankrupt America. The only one benefiting are the ones at the very top. Oh, and that was Bin Laden's plan. Do what we did to The U.S.S.R. in Afghanistan. And Bush fell into it.
Your quote """""but we saw what happened there (those making far less than $250,000 got screwed), and it can happen to our economy as well."""""
I believe it is NOT in the future tense, but in the present. It is happening.
McCain has audiences? I know that he has to stock his events with paid staffers. I guess if anyone does come they probably are in the upper tax brackets. No one with a brain or economically challenge would waste their time listening to his rhetoric.
McCain has never lied about his tax plan , nor has he said he would raise... Barack,,,, Chicago ,,, higher gas and taxes than Denmark
RWE: Rating: MASSIVE FAIL
This is what I mean by people watching too many talking heads. A quick check on The Internet (not the most reliable source) and you would quickly see the error of your ways.
http://money.cnn.com/pf/features/lists/global_gasprices/
Denmark $5.93
http://www.chicagogasprices.com/
Average $4.30, Low $4.17, High $4.67
Shill. Are you even an educated American? And those taxes. Federal. They pay for much of what you drive on.
Now, if you want to argue drilling in ANWR, we cannot use the gas in in The U.S. Too dirty. The oil companies would make billions selling it to China, India, Indonesia, etc. ANWR would do nothing to bring down gas prices in here.
You want to argue that China would take ANWR oil and let us have what it replaces from the Middle East? No, the would take it and more. They are a growing economy with over a billion people. You and I would still lose and Big Oil would win all-around.
Now, can we please get some good public transportation. Las Vegas FAILS more than RWE.
RWE = Right Wing Extremist. I figured this out a while ago, what about the rest of you?
Actually he's lied constantly, he's said that cutting earmarks and other wasteful spending would cover costs, when in fact it wouldn't even cover 50 billion
You mean when he voted against the Bush tax cuts saying they overly benefited the very rich and would increase the deficits... Hmmm he was right then and wrong now.
Regards
McBush has distorted his "plan" on so many levels. It hasn't even passed non-partisan economist tests. SO what was McBush's response? Oh I don't pay attention to those liberal economists (LOL)!!! No wonder he is so far down in the polls.
McCain has lied at every turn:
* McCain supported the drilling moratorium; now he’s against it.
http://www.washingtonpost.com/...
* McCain strongly opposes a windfall-tax on oil company profits. Three weeks earlier, he was perfectly comfortable with the idea.
http://www.huffingtonpost.com/...
* McCain thought Bush’s warrantless-wiretap program circumvented the law; now he believes the opposite.
http://www.thecarpetbaggerreport.com...
* McCain defended "privatizing" Social Security. Now he says he’s against privatization (though he actually still supports it.)
http://www.thecarpetbaggerreport.com...
* McCain wanted to change the Republican Party platform to protect abortion rights in cases of rape and incest. Now he doesn’t.
http://www.huffingtonpost.com/...
* McCain thought the estate tax was perfectly fair. Now he believes the opposite.
http://www.thecarpetbaggerreport.com...
* He opposed indefinite detention of terrorist suspects. When the Supreme Court reached the same conclusion,he called it "one of the worst decisions in the history of this country."
http://www.thecarpetbaggerreport.com...
* McCain believes the telecoms should be forced to explain their role in the administration’s warrantless surveillance program as a condition for retroactive immunity. He used to believe the opposite.
http://www.washingtonpost.com/...
* McCain supported moving "towards normalization of relations" with Cuba. Now he believes the opposite.
http://www.thecarpetbaggerreport.com...
* He argued the NRA should not have a role in the Republican Party’s policy making. Now he believes the opposite.
http://www.thecarpetbaggerreport.com...
* McCain supported his own lobbying-reform legislation from 1997. Now he doesn’t.
http://www.huffingtonpost.com/...
how is a republican lying news?
How are politicians, Republican and Democrat, lying anything new? We all know Barak and McCain are lying. After all, there are the pols in Congress they have to deal with. There are the lobbyists they have to kow-tow to in the lawfully enshrined system of legal bribery we have here in America.
You want honesty in politics? Then you need a taxpayer financed system including limits on campaign seasons and free air-time from cable and radio. We all moan about the system and refuse to sacrifice a few dollars every year to help ourselves.
I know they're lying, but NO ONE in the MSM will call them on it!
Add to the tax lies the lie that "Obama said he would withdraw all the troops from Iraq immediately regardless of what the Generals said the situation is on the ground" as LIEberman said on This Week. Problem is, Obama NEVER said that - in fact, Hillary accused him of breaking his pledge on ending the war BECAUSE he wouldn't say that.
I'm so depressed. The media don't do their jobs and show no signs of changing. Without truth, what is there?
Those in the bottom two tax brackets currently pay 0% capital gains tax. That rate is set to expire next year. So when Obama says he's not going to raise your capital gains taxes, does he mean he won't pass any NEW legislation to raise taxes, or does he mean he's going to freeze the tax rate at zero?
As I understand it he means the former. So he can allow Bush's tax cuts to expire and say "Hey, I didn't raise your taxes, George Bush did by having a sunset provision in his tax cut." And he can allow the 0% capital gains tax rate to sunset as well, and blame Congress for only making it temporary.
So, as far as I'm concerned, McCain is right, and Obama's the one doing the spinning.
Your response spins so fast it's come un-moored.
So, as far as I'm concerned, you're wrong. Absolutely.
Moore. Like that. I do not believe anyone should be raising taxes by $500K on more than $2.9M in income. And, if you are making less than $19K a year, you do not use your tax deduction to eliminate your liability? Wow.
It's too bad when people believe these Republican lies. Go here to see what Obama is proposing: he actually cuts taxes on people making less than $112K more than McCain does.
http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/index.htm?postversion=2008061115
What's true is that Obama's considerable tax cuts for the middle class will be somewhat offset by his lifting the ceiling on Social Security withholding, affecting those with annual incomes over $75,000.
However, there are issues in play in this election in particular that are far more critical to the well-being of the vast majority of Americans than the effective capital gains tax rate for the poor or the marginal personal income tax rate for the rich: war, government efficacy, and preservation of the First Amendment and the writ of habeas corpus. The Neo-Cons seem to be too preoccupied with their largely mis-perceived personal financial self-interest to exhibit even the slightest concern for the fundamental rights and actual interests of all Americans--including themselves.
Actually the lowerst two brackets pay 5% cap gains tax in the US, if you can't even get that fact right then you are not capable of having this discussion, go away you reich-wing thug
Hahahaha.... sales TAXES!
You're leaving something out. Those of us on the bottom two tax brackets don't own any property worth selling or reporting the sale of. Maybe I have an old LP that some collector might want to pay 30 bucks for, you think I'll bother to report it or that the IRS will care if I do? Fat chance. Even my car isn't worth $500. If there is an increase in our capital gains tax, we'll only be paying a percent of 0 or so near it it's inconsequential.
The problem is McCain only has lies - nothing of substance so he has to lie, lie and lie.
Excellent article. This even cleared up a couple things for me, and I didn't even know about the 0% capital gains tax rate for new small businesses.
We can have hope this election or the continued fearmongering by the Republicans. I choose hope, thank you.
Contrary to popular sheep opinion, small business makes up the bulk of our economy. Eliminate the small business and you eliminate our economy. For a micro-economic example, look at what happens when Wal-Mart moves in. Sure, low prices. However, the economic outlook of a community takes it hit in lost revenue for schools, public services, etc. Each case is different.
Wal-Mart can actually benefit small communities in the middle of nowhere by providing jobs.
Rule: Control the means of production (and distribution). Control the people.
McSame must have caught an earful from his wife about his plan to "veto every beer," but the true alarm that should be sounding is--what about his mental health? We've lived with a mentally challenged president for 8 years and McSame would bring more of the same. We need a man with the intelligence to understand the difference in the tribes in Iraq, the number of soldiers we have there and one that says something different than "it doesn't matter" how long our troops remain there. He'd have to raise taxes to pay for the next 100 years he plans to stay in Iraq. Just like the old song says:
Lost john standing by the railroad track
a-waitin' for the freight train to come back.
The freight train come back but never made a stop
lost john thought he'd ride to the top
Well, he's long, long, lost john
yeah, long, long, lost john.
All McCain has is lies.
No. You can learn much about people by the lies they tell. Even lies provide insight into what motivates a person. Judging by the number of pairs of flip-flops McCain has gone through, his motivation in life is to become President.
Next, we look at past actions. McCain votes against veterans most of the time. Then he was one of the Keating Five. He panders to Religio-fascists here in America after publicly excoriating them.
However, my favorite anecdote about McCain comes from friends who lived in Arizona. They elected McCain and sent him to Washington, D.C. So he would stop screwing up Arizona.
It is amazing how the MSM lets this guy get away with anything, but allow McSame to twist everything Obama says and they go along with it!? How is that unbiased NEWS? And these people hate on FOX? Seriously, they're doing the same thing!
McCain's campaign is going to lie and twist the truth on EVERYthing.
A, that is what Republicans always do anyway. B, that is certainly all the McCain campaign CAN do in this contest, when they and their candidate are so bassackwards and totally misguided on every single issue.
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