Tax cut fever

According to his website John McCain really doesn’t like taxes. He wants

  • Tax Cuts On American Employers….
  • Pro-Innovation Tax Cuts…
  • Ban Internet Taxes. … ..
  • Ban New Cell Phone Taxes. …
  • Establish Permanent Tax Credit Equal To 10 Percent Of Wages
  • Retirement Tax Cut… .
  • Make It Harder To Raise Taxes… by requiring a 3/5’s majority to increase taxes.
  • Maintain the current income and investment tax rates

In other words he wants to cut taxes on employers and employees, people who are working and not working, people who are talking, and people who are surfing the internet.

All of this is because (cue deep voiced narrator):

“John McCain is pro growth and wants to fight the Democrats’ plans for a crippling tax increase. Left to their devices, Democrats will impose a massive $100 billion tax hike, almost $700 per taxpayer every year.”

Now Republicans have been making this argument for decades. Lower taxes = higher economic growth. In fact there will be so much growth tax revenue will go up.

Economists argue back and forth. Who ya gonna believe, right?

As it turns out we have some evidence. Bush’s own economists examined the question and concluded that his tax cut proposals would have almost no impact on revenue growth. In addition economic growth has been stronger when tax rates have been higher.

None of this registers with McCain or the GOP. Their pet economic theory has been reduced to pure lying for votes. And I haven’t even mentioned the Fuel Tax Holiday.


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