With an Eye to History, McCain Hits Obama on Taxes

Wall Street Journal ^ | Sept. 19, 2008 | Greg Hitt

[FocusNexus]

John McCain is trying to shift the 2008 economic debate to an issue where Republicans historically have had an edge over Democrats: taxes.

In a television ad that began airing Thursday, the McCain presidential campaign warned that Americans can expect "painful income taxes" if Barack Obama, the Democratic presidential nominee, wins the White House. In Cedar Rapids, Iowa, Sen. McCain pounced on comments by Sen. Obama's running mate, Delaware Sen. Joe Biden, on a morning news show that paying higher taxes is "patriotic."

"Raising taxes in a tough economy isn't patriotic," Sen. McCain scoffed. "It's not a badge of honor. It's just plain dumb."

"The reality is raising taxes in a weak economy is a bad idea, and we don't," said McCain campaign policy chief Doug Holtz-Eakin, adding that higher individual rates would hit small businesses particularly hard.

Polls suggest Sen. McCain has room to exploit the issue. Even though Sen. Obama has vowed the middle class will get tax cuts, not tax increases, 49% of voters said they believed their taxes would go up if the Democrat wins, according to the latest New York Times/CBS News survey.

[LibLieSlayer]

I am impressed more and more with McCain during this economic turmoil... I refuse to use the msm buzzword “crisis”.

LLS

[FocusNexus]

Obama Wants To Shift Tax Burden To Rich (Investor's Business Daily)

I guess everyone making more than $31K is "rich" according to the Obama plan.

[FocusNexus]

“I refuse to use the msm buzzword ‘crisis’.”

I agree. I find it infuriating that they keep calling it a “crisis”.

They are also calling the issue of high gasoline prices “energy crisis”. It may be a problem that needs to be solved, but it’s not a “crisis”.

They are just trying to scare people, hoping that it will result in voters electing Democrats “to take care of them”.

[servantboy777]

McCain, being....you know, the maverick for change should be honest with the American electorate.

But hey, he’za politician. What should we expect.

If there mouth is a moving, there a lying.

Truth is, with our now HUGE national debt, enormous trade imbalance, pending Social Security shortfall, other entitlements about to be realized by the graying of our society........The Feds will have NO CHOICE but to raise taxes to meet future obligations.

Republican or Democrat, both parties are complicit in the financial disaster about to rear it's ugly head.

Unless we work for real change and allow independent voices to be heard and debated, America will get what she votes for.

Americans need to work for term limits in the senate. Work to eliminate the enormous amounts of cash pumped into our political system from corporate and foreign interest.

Cut federal spending, cut federal spending, cut federal spending.

Hold the execs of these large banks that make up the federal reserve accountable for the mismanagement and greed that is being covered up.

STOP illegal immigration and halt benefits to those who do not belong here. This would save billions alone.

Take that damn pen from George Bush so he will stop the bankrupting of our nation.

[niteowl77]

Despite my past problems with John McCain, I can say that the man was astute enough to have at least warned us about the volatility of this situation; in the meantime, his opponent was busy pouring gasoline on the fire.

[goldstategop]

Hit Obama hard on taxes and spending. Particularly all those new spending programs he wants but hasn't told us how they would be paid for - or who would pay for them.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[FocusNexus]

“The Feds will have NO CHOICE but to raise taxes to meet future obligations.”

WHY? History shows that REDUCING taxes INCREASES revenue.

Obama wants to increase taxes to redistribute income and establish The Socialist Republic of the United States.

[LibLieSlayer]

I agree 1000%!

LLS

[LibLieSlayer]

Yes barry hussein soetero is pouring gas on the fire... that and praying to allah that he destroys America so that it can become a communist caliphate.

LLS

[Ruy Dias de Bivar]

Democratic manatra...”There is no end to the amount of good I can do, with someone else's money!”

[SERKIT]

When JFK lowered rates and increased revenue, Barry was crapping in his diapers. When Ronaldus Magnus reduced rates and increased revenue, Barry was smoking dope and drinking too much and realized he need to at least start to get his crap together. When W reduced rates and gave a stimulus, Barry waffled and alternately said that it wasn't enough or it shouldn't have been done at all. Once again, Barry does not have his crap together.

[what's up]

The Feds will have NO CHOICE but to raise taxes to meet future obligations

Why? If you have a larger debt, you reduce taxes to increase revenue.

McCain will not raise taxes. He is calling for lower taxes.

[ProtectOurFreedom]

49% of voters said they believed their taxes would go up if the Democrat wins

I never cease to be amazed how brain-dead the U.S. electorate is. O has publicly promised to raise income, capital gains and estate taxes.100% of voters should know that by now.

[adorno]

Americans can expect "painful income taxes" if Barack Obama, the Democratic presidential nominee, wins the White House

The biggest lie that any democrat can make is to state that he's going to cut taxes. That's against their nature and their agenda. Other than JFK, democrats just don't cut taxes. It's not in their blood.

It's beyond the understanding of any democrat that, cutting taxes is better for the economy and creates jobs. Most people in the democratic party are conditioned to higher taxes and higher government spending.

Anytime Obama or any democrat opens up his mouth to talk about lowering taxes, on any group of people, or on any companies, you just automatically know that they're lying their butts off.

[servantboy777]

With all due respect, that is a naive outlook.

We have hundreds of billions of obligations that MUST be met.

Even George Bush sr.’s famous last words that killed his chance for a 2nd term.

“READ MY LIPS, NO NEW TAXES”

We all know how that lil story ended.

[what's up]

We have hundreds of billions of obligations that MUST be met.

Get out your supply-side manual.

To meet increasing gov't debt you LOWER taxes.

Did you miss the Reagan era or what?

[Osage Orange]

With all due respect, that is a naive outlook.

Tell me what historically happens to city,state, and federal coffers when taxes are reduced?

[dools007]

You’re right. The fact is that the Dow was lower in June that it ever went after Lehman Bros. announced bankruptcy and the extent of the subprime problem became apparent. That the mortgage lending community and Wall Street (naked short selling) were out of control—I think criminally so— is undeniable.

But, I’m so tired of the sky is falling crowd.
Another fact: People do not lose actual money on a stock unless they sell for less than they paid for it. Those of us who are in the market for the long haul will be just fine. I would have preferred the Market corrected itself, but the double whammy of sub prime lending and naked short selling was too big. Sadly government had to step in.

If you look up capitalism in the dictionary it says capitalism tends toward government control. I wondered whether that meant that capitalists evolve toward wanting or govern, or capitalist bad behavior forced the goverment to intervene. I think I now have the answer.

[LibLieSlayer]

Excellent summation and 100% correct. Thank you!

LLS