Libertarian ping! To be added or removed freepmail me or post a message here.
Posted on 06/10/2008 5:17:40 AM PDT by BloodOrFreedom
Republican White House candidate John McCain will promise on Tuesday to lower corporate tax rates if he wins the U.S. presidency and ease the tax burden on middle-class workers to help revive the faltering economy.
The Arizona senator, who has wrapped up his party's presidential nomination, also would propose a simpler, alternative tax system and insist that chief executives' pay and severance packages have shareholder approval.
"No matter which of us wins in November, there will be change in Washington. The question is what kind of change?" McCain will tell a conference for small businesses, referring to his Democratic opponent, Sen. Barack Obama of Illinois.
"Will we enact the single largest tax increase since the Second World War as my opponent proposes, or will we keep taxes low for families and employers?" he will say, according to excerpts released before his speech.
McCain will pledge to act quickly to lower corporate taxes from "the second highest in the world to one on par with our trading partners to keep businesses and jobs in this country."
He will propose a law to allow companies to expense new equipment and technology in their first year.
He supports keeping capital gains taxes low, doubling a tax exemption for children, and phasing out the "alternative minimum tax" which he said would save some 25 million middle-class families up to $2,000 in a year.
On Monday Obama drew a sharp contrast with McCain, his opponent in the November election, accusing him of wanting to widen President George W. Bush's tax cuts and plunge the United States deeper into debt.
He charged that McCain's support for extending Bush's tax cuts would allow $2 trillion in corporate tax breaks.
U.S. taxes were too complicated overhaul, McCain will say in his speech, in which he will argue for an alternative system.
"As president, I will propose an alternative tax system. When this reform is enacted, all who wish to file under the current system could still do so," he will say.
"Everyone else could choose a vastly less complicated system with two tax rates and a generous standard deduction."
McCain criticizes Obama for wanting to increase dividend and capital gains taxes and aiming to raise the minimum wage and link it to an index.
But he also takes aim at top corporate executives with big salaries and excessive severance packages.
"Americans are right to be offended when the extravagant salaries and severance deals of CEOs ... bear no relation to the success of the company or the wishes of shareholders," he will say, adding that some of those chief executives helped bring on the country's housing crisis and market troubles.
"If I am elected president, I intend to see that wrongdoing of this kind is called to account by federal prosecutors. And under my reforms, all aspects of a CEO's pay, including any severance arrangements, must be approved by shareholders," he will say. (Editing by Chris Wilson
I think a lot of companies have shareholders frozen out... so maybe there’s something to what he says...
One thing for sure corporate taxes in this country are tooooooo high. Lowering them to 12% as they are in Ireland...would see a huge boom. Allowing some of our soc sec to be invested in stocks would bring money into this country etc.
Obama has no clue.....
Libertarian ping! To be added or removed freepmail me or post a message here.
Fortunately, it doesn’t work like that. Once they buy them back, they are treated for the most part as a nullity.
What you are ignoring is that it has less to do with me, and more to do with whether our economic system works. Are you saying that if I don’t own any property, then it doesn’t matter to me whether the government abolishes private property?
I’m not talking about salary caps. I’m talking about top managers getting shareholders permission before they spend the shareholder’s money on themselves. What’s wrong with that?
If you tell you’re a conservative that’s surely true!...
PS.:I have some doubdts on the motivation of such statements
Nothing on FOREIGN policy,nothing on health care,nothing on the gay agenda,nothing on islamism,nothing on J.WRIGHT the black anger and the division of USA...
Try to be more specific if you want to be trusted
I also would like to see the shareholders have more say, particularly with golden parachutes. Very often, they act in their own interest to the detriment of shareholders. Then, ambulance chasing attorneys get involved, and they get the money.
>>Besides that, it’s none of the government’s businees.
Corporations are collectives of individuals who operate as a single entity. The government is the legal framework within which the corporatist structure rests.
Corporatism and Communism are merely different forms of fascist collectivism - where the structure itself becomes the object of worship.
Insect politics. Bzzzz.
The writers of the Declaration of Independence seem to have had a different idea. Their focus was on the Individual, endowed with inalienable rights - not on the collective hive which always, by nature, seeks to subjugate the individual.
>>The corporation is a creation of the government,
>>and is not mentioned in the Constitution.
Corporatism / Communism / Collectivism....
The Hive loves to be worshiped.
>> What’s wrong with that?
It’s a specious argument. It would be worth your time to learn more about shareholders, directors, articles, bylaws, and various classes of stock. If you’re a shareholder in a corporation that’s being mismanaged, get involved.
I don’t agree with your ‘requirements’, but I agree the shareholders should partake in the opportunities they’re given to influence the direction of the corporations they own. As it’s been mentioned, it’s their capital that’s at risk.
The corporation is a creation of the state governments. They indeed can regulate the corporations incorporated or doing business within their states. The federal government, OTOH, constitutionally has no say in the operations of corporations. If you think it does, show me where in the U.S. constitution such intervention is allowed.
“If the executives and boards of directors don’t want their pay determined by the stockholding owners of the company, they should borrow the money to buy up all the stock, and cease being a publicly-traded company. That would be capitalism.’
No it is called Private Equity. A huge trend and not good for you. All the best investments are being bought up and you are left with the dregs - unless you have a few million for each idea. Or we just move the whole capital markets system off shore.
Plus what part of the BOD do you not understand this IS democracy with the largest shareholders VOTING for the board. I still say if you do not like the corporate governance SELL THE STUPID STOCK.
I know HPQ all to well. Platt was not much better. Culture was internally focused. It was hard to get fired. Fiorina was a fool and now a big McCainiac. The new guy is great. I heard Glenn Beck today on his company. He said you have to eliminate the deadwood or nobody works. HP was PC deadwood city until now.
“McCAIN also stated that he wants to lower taxes to boost the economy...”
McCain is Mr, Unintended Consequences. He does not have good instincts or analytical skills. He just gets some wacky idea and goes for it.
I’m saying if it somebody else’s property butt out.
I’m saying if it somebody else’s property butt out.
I loath socialist but not as much as socialists proclaiming to be conservatives.
PING!!!!!!!!
Have a great day, all.
McCain takes tax fight to Obama -
(lays out tax, trade, health-care plans in economy speech)
MarketWatch | June 10, 2008 2:54 p.m. EDT | Robert Schroeder, MarketWatch
Posted on 06/10/2008 1:19:59 PM PDT by Ernest_at_the_Beach
http://www.freerepublic.com/focus/f-news/2029019/posts
Pelosi Statement on McCain Comment
That It Is ‘Not Too Important’ When Troops Redeploy from Iraq
Speaker.house.gov
Posted on 06/11/2008 9:54:50 AM PDT by Sub-Driver
http://www.freerepublic.com/focus/f-news/2029516/posts
European Leaders Back Bush on Iran
NYT | June 11, 2008 | Steven Lee Myers and Nazila Fathi
Posted on 06/11/2008 4:55:47 AM PDT by Schnucki
http://www.freerepublic.com/focus/f-news/2029333/posts
Stop the War Threats, Emphasize Diplomacy with Iran, Says Bob Barr
[Libertarian Party candidate]
3rd Party Watch | 6/10/08 | staff
Posted on 06/10/2008 12:27:50 PM PDT by pissant
http://www.freerepublic.com/focus/f-news/2028990/posts
Oil price crisis threatens to reverse globalisation
Times of London | 06/11/08 | Carl Mortished
Posted on 06/10/2008 10:22:39 PM PDT by TigerLikesRooster
http://www.freerepublic.com/focus/f-news/2029274/posts
GOP nixes Democrat-backed tax on oil companies
Houston Chronicle | 6/10/08 | DAVID IVANOVICH
Posted on 06/10/2008 9:37:54 AM PDT by Dawnsblood
http://www.freerepublic.com/focus/f-news/2028897/posts
Roll Call: How they voted on oil tax bill
yahoo | 6/10/08 | ap
Posted on 06/10/2008 4:25:09 PM PDT by mdittmar
http://www.freerepublic.com/focus/f-news/2029131/posts
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