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McCain rapid response to Obama rock 'n roll spot on economy

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"Barack Obama has proposed raising taxes on small businesses and America's working families during an economic downturn. You don't have to 'know much' to understand that Barack Obama's plans to raise taxes will hurt an already struggling economy. And it's particularly revealing that the Obama campaign feels forced to cast flimsy attack ads during his own convention - Barack Obama's politics of hope is waning." ---Tucker Bounds, spokesman John McCain 2008

· The Las Vegas Review-Journal Calls Barack Obama's Tax Proposals "A Recipe For Economic Disaster." "[Obama] wants to the raise tax rate on the top income bracket from 35 percent to 39.6 percent, nearly double the tax rate on capital gains and dividends, and eliminate all tax breaks for the gas and oil industries and private equity firm managers. Talk about a recipe for economic disaster." (Editorial, "More Class Warfare," Las Vegas Review-Journal, 9/20/07)

· The Washington Post Said Barack Obama's Tax Proposal Is "Poorly Crafted." "Democratic presidential candidate Barack Obama . proposed $80 billion or so in tax cuts for middle-class taxpayers. These are the sort of have-a-cookie proposals that sound great to voters, especially Democratic primary voters, so they might be smart politics. That doesn't make them smart policy. . Even if it made sense to spend all this revenue to shift tax burdens rather than deal with other problems, the Illinois senator's proposals are poorly crafted, lavishing tax goodies where they're not needed. . Mr. Obama says he wants to help families squeezed by stagnant wages, but this is an awfully expensive Band-Aid." (Editorial, "Mr. Obama's Cookie Jar," The Washington Post, 9/25/07)

· The Washington Post: Barack Obama's Tax On Oil Companies Will Only Lead To "Higher Prices At The Pump." "But to add a five-year tax increase on top of that to pay for a one-year gift to voters would, indeed, increase the cost of doing business. That cost would be passed along in forgone investment in new production, lower dividends for pension funds and other shareholders, and higher prices at the pump -- thus socking it to the consumers whom the plan is supposed to help. If oil prices fall, there might be no windfall profits to tax. Then the Obama rebate would have to be paid for through spending cuts, taxes on something else or borrowing." (Editorial, "Tapping Tired Wells," The Washington Post, 8/6/08)

· The Wall Street Journal Said Barack Obama's Plan To Raise The Top Income Tax Rates Would "Stunt Small Business." "The clear implication is that raising the U.S. personal income tax rates would also stunt small business entrepreneurship. Yet this is precisely what all of the Democratic Presidential candidates, and even Mr. Rangel, propose." (Editorial, "Corporate Tax War," The Wall Street Journal, 12/4/07)

· FactCheck.org: "Obama's Votes Indicate A Willingness To Raise Taxes." "Certainly Obama's votes indicate a willingness to raise taxes, and Obama has not been shy about saying explicitly that he will raise some taxes." ("The $32,000 Question," FactCheck.org, http://www.factcheck.org , 7/8/08)


15 Comments

This seals the deal: Romney shall be VP.

DEAR JOHN YOU ARE EXERCISING POOR JUDGEMENT AGAIN!
DON'T YOU REMEMBER WHAT THE JUDGE TOLD YOU DURING
THE KEATING 5 SITUATION, YOU STILL HAVEN'T
LEARNED YOUR LESSON, TELL KARL ROVE FREEDOM IS
ROAD SELDOM TRAVELED BY THE MULTITUDES!
HE IS GOING TO PRISON HE CAN'T USE EXECUTIVE
PRIVILEGE MUCH LONGER!

Obama is not going to raise taxes on Small Business or working families. This myth is being perpetuated by rich Republicans who think that they should get all the tax breaks even though loop holes in our tax code already provides them safe haven for most of their money.

Loyal Americans, Please, do not believe this myth. I know you are smart enough to recognize that the rich are protecting their interest and keep us regular people enslaved and poor so they can rule the world.

the middle class and working poor full our economy not the rich. We need to put more in the pockets of us in the middle and the bottom to keep going for all of us. Trickle down economics according to George Bush senior is "voodoo economics". Are country will go down the toilet if we let this myth continue.

Tucker Bounds seems like such a d-bag. I've seen plenty of "flimsy" attacks: each involving the word "celebrity" and each coming from McCain's pathetic, childish campaign.

The Olympics was only the latest evidence that America is not as strong as she used to be. A communist country effectively used their rising middle-class to put on the greatest show ever AND win the most gold medals. There were just too few Moms’s and Dad’s like Michael Phelp’s or Shawn Johnson’s who’s sacrifice was enough to propel their kids to the top. The rest were too distracted by mortgage failures, medical expenses, gas prices and educational budget-cuts, all problems that grew during two+ decades of rising corporate tax-cuts and profits.

This election is possibly the last chance to save the working middle-class and everything it does for this country. It is unbelievable that many voters are still voting based on identity politics..."my vote will only go to a 'woman' or 'war vet' or "someone more like me" Wake-up America. The election is not a popularity contest. It is your future.

I BELIEVE MCCAIN IS MORE SENSIBLE AND A COOL HEAD

The McCain rapid-response team needs a vacation if they have to use four editorial board pieces plus an out-of-context lift from a FactCheck.org work debunking a prior McCain claim as substantiation for yet another flimsy charge.

STICK A FORK IN MCCAIN HE IS DONE!

McCain has no plans nor vision. He has no platform that he is running on. The only thing he does is attack, attack, and attack. He is giving you a prelude into his Presidency. We are going to be in war after war. What type of man would send his wife to a war torn country. He has just sent his wife to Georgia so that she can access the damage. She is not an expert on that what will she be looking for. The reality of it is the damage is pretty bad. Even Stevie Wonder can see that. I heard that they are proposing that we send a billion dollars to them I won't pay anymore taxes if we do that. Because we supposedly had nothing to do with this then why should we pay for it.

THE DEMOCRATS ARE COMING TOGETHER, DON'T GET MAD
GOP AND MCCAIN, IT WAS BOUND TO HAPPEN, JUST KEEP
MAKING THOSE STUPID COMMERCIALS AND TAKE YOUR
WHIPPING IN NOVEMBER!

During his acceptance speech Obama Stated he whats to take us away from being an "ownership state" What does that mean? Is he going to take away my right to own? Please someone explain to me what he means.
He also whats to raise capital gains taxes, right. Because he whats to go after the rich. So I guess that means I'm rich because I have a couple small mutal funds that make a few bucks most of which are capital gains. One of you Obama heads explain that to me. And while your at it expalin why you liberals aways try to use class warefare to divide the country.

There should be no discrimination or favoritism for either rich or poor. If I am poor I should not begrudge the 'rich' and if I am rich I should not despise the poor.
The attitude of 'the rich are going down' is so ugly. The middle class of which I am part, does keep the country going, plugging away. But I am no better than a 'rich' person.
By the way the revenues from the top 5% income makers in the US fund more than their share of the total tax revenue collected. It would be interesting to know what percentage of the revenue comes from the top 5 or 10%.
My husband owns a small business and if he does better and better, then we can give more money to charities. We already give about 10% to for school fundraising, charities, etc. I'd hate to see his very hard-earned money and back-breaking work get taxed away. If they ever sell the building his company is in, it would be ridiculous to pay double the capital gains, as Obama proposes.

I'm leaning over McCain because I think I can trust him.

BO will absolutely be raising taxes on small businesses. My wife and I are middle-class small business owners.

The simple fact is if you own a S-Corp your business income is passed to your personal income taxes via a K-1. So many small business owners will be exposed to his 250K tax increase burden. This doesn't help stimulate business growth, it retards growth.

Also his plans to raise Social Security tax rates will hit self-employed and small businesses twice as hard since you have to pay the employee and employer sides of FICA.

Increasing capital gains is another BO disaster. This doesn't make any sense for those middle-class citizens who are building a diverse portfolio. Cap gains should be zero not 30%.

If you think your BO middle income tax break will help you think again. Small businesses and the wealthy will simply raise prices and stop investing. Inflation will increase and jobs will be lost, bottom line we will be on a course to revisit the Misery Index of the late 1970's.

It seems to me that Mr. Obama's plan to raise taxes on the "rich" would be moronic. He is thinking too short-sighted. In the short-term, initially it may provide temporary (very temporary) relief to middle class but look at the long-term effects: If I am a middle class, small business owner or new entrepreneur, looking at the incredible tax burden placed on higher income individuals/businesses, I would see no reason to want to advance my income too far, for fear of entering that tax bracket. I may only go so far, then plateau. That leaves me stuck in middle class. But, isn't it the American dream to want to succeed as far as possible? Used to be most people dreamed of having the opportunity to become "rich" someday. But with Obama's tax plan, it would make that dream foolish. How many people would stagnate themselves to avoid the high taxes? Wouldn't that be kind of like, going backwards?? No thanks, Mr. Obama. I think I'll pass on that. I still have dreams for me and my children.

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on August 25, 2008 12:11 PM.

New Obama rock 'n roll spot on the economy links McCain, Bush was the previous entry in this blog.

McCain's vice president pick. Sun-Times convention roundtable. Video. Sweet, McKinney, Sneed, Marin, Pallasch, Carney. is the next entry in this blog.

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