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
What does this have to do with the fact that 90% of the people posting on this thread read the headline but not the article?
Thank you. A man who gets it.
Feel free. He may listen to you. He isn’t listening to nay other “conservative”.
I really can’t support McCain (I wanted Fred), but McCain did not say regulate...
Just skip to the end and read that...
Halliburton moved to Dubai last year, and I guess a side benefit is that they’ll be insulated from Obama’s planned “war crimes” prosecutions.
“What does this have to do with the fact that 90% of the people posting on this thread read the headline but not the article?”
>>>>>>>>>................
you can now GO BACK TO THE RNC and report that FR is not a MCCAIN friendly zone..we are sick and tired of the lesser of two evils shills and party hacks.
Okay ... I’ll go quietly to the R/R car. Please don’t hurt me.
That is what I read too. I thought there was some sort of update to the article that I was missing...
This child credit that has been going on is nonsense! It was $500 per child under Clinton, then raised to $1000 per child under Bush, and now McCain wants to raise it to $2000 per child.
Hogwash!
That child credit is the amount in taxes that you do not have to pay and if you have paid in that amount or more in taxes you get that back!
Hogwash!
And if you don't have a child you carry the full tax burden with no tax credit.
Hogwash!
Did anyone ask me if they could have a child and if I would pay their share of taxes while they do not have to pay them?
Hogwash!
The child credit is complete Hogwash!
Now you know how I feel... ;-)
Why don’t you read the article? The article says he wants shareholders to approve severance packages, not the govt.
The only conclusion I can come to is that McCain is a fascist, under the classical definition thereof.
What..are you going Vichy on me? Where have all the loud mouths gone?
Conservatives got much of what they wanted, but not all, including judges. I'm not going to give the enemy the whole d@mn boat because you didn't get all your favorite issues licked.
You have to understand how McCain works. He is a moderate, he doesn't want any one group to have too much control, that includes whacked out leftists.
Don't be your own worst enemy.
Mcloon gave and Mcloon hath taken away, blessed be the name of Mcloon.
Lib 1: 20-21
Dubai is every world leaders favorite little potential resort including the leftists. They won't touch it with a ten foot pole. It's like the Sweden of the political world. What happens there stays there.
Americans are right to mind their own darned business.
HAS ANYONE BOTHERED TO READ THE WHOLE ARTICLE!!???
McCain said that CEO pay should be determined by the SHAREHOLDERS of the company they work for, which is how it should work in the first place.
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