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Sunday, February 17, 2008

McCain Says “No New Taxes”

And he didn’t tell us to read his lips, either.

WASHINGTON - Republican John McCain says there will be no new taxes during his administration if he is elected president.

“No new taxes,” the likely GOP presidential nominee said during a taped interview broadcast Sunday.

McCain told ABC’s “This Week” that under no circumstances would he increase taxes, and added that he could “see an argument, if our economy continues to deteriorate, for lower interest rates, lower tax rates, and certainly decreasing corporate tax rates,” as well as giving people the ability to write off depreciation and eliminating the alternative minimum tax.

That McCain views letting the Bush tax cuts expire as a tax hike despite proclamations to the contrary from liberal “budget hawks” like Senator Kent Conrad is an important part of this promise.

McCain was defending his support for an extension of tax cuts sought by President Bush, which McCain voted against. The Arizona senator now says allowing the tax breaks to expire would amount to an unacceptable tax increase.

McCain could have weaseled out of his “no new taxes” pledge by saying that letting the Bush tax cuts expire is simply the reinstitution of old taxes.  I’m glad to see he isn’t doing that.

But the big question is: Will McCain keep this promise?  Is he believable when he makes it?  He’s trying to make nice with conservatives now, but it’s going to be hard for some of them to take him seriously given some of his past decisions.

Comments

"No new taxes” can be parsed as not inventing any more taxes than we have now, but allowing for present tax rates to be raised.  We’ll see.  If he were a real conservative, he would be promising to lower tax rates.


"If the good men are silent only the wicked are heard.” - Edmund Burke

robert108 on February 17, 2008 at 02:42 pm

and added that he could “see an argument, if our economy continues to deteriorate, for lower interest rates, lower tax rates, and certainly decreasing corporate tax rates,” as well as giving people the ability to write off depreciation and eliminating the alternative minimum tax.

Why not do those fine things without a weak economy?  What’s with these Washington types thinking that our money is something for them to let us have only if we need it?

On the other hand I in general trust McCain to do what he says.  I’m still not ready to say he deserves my vote but this didn’t hurt.


The Debate is over!  Global Whining has been confirmed.


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The Whistler on February 17, 2008 at 03:37 pm
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I’m not a big McCain fan because of McCain-Feingold, the gang of 14, and McCain-Kennedy.  But I’ll forgive his 2 votes against the Bush tax cuts because he was pressing for specific and significant cuts in spending to accompany the bill.  When we hear about his “votes against the tax cuts”, we all need to remember: a “no” vote isn’t a vote against the overall concept - it’s a vote against a specific bill.

Ryan on February 18, 2008 at 09:06 am

Ryan: It is exactly that economically ignorant reasoning that tells us McCain doesn’t understand the free enterprise system.  Tax rate cuts produce more revenue, not less.  Spending cuts should be done because it’s a good idea, not tied to tax rate cuts.


"If the good men are silent only the wicked are heard.” - Edmund Burke

robert108 on February 18, 2008 at 09:14 am
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I’m not quite so willing to forgive McCain’s votes against the Bush tax cuts.  If he wanted them coupled with cuts in spending, fair enough.  But he called them tax cuts for the rich.

That’s an insight into his economic philosophy that I don’t like.


The war against illegal plunder has been fought since the beginning of the world. But how is… legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. Then abolish this law without delay … If such a law is not abolished immediately it will spread, multiply and develop into a system.

Frédéric Bastiat, The Law

Rob’s recently listened-to songs:

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Rob on February 18, 2008 at 09:17 am

Conservatives are correct in scrutinizing John McCain’s - or any candidate’s - stand on tax issues and speculating on the likelihood of their sincerity. For many, McCain has a troubling record.

But McCain also has a fairly clear record of saying what he means and meaning what he says, regardless of the fallout. For better or worse, he is basically up front and honest on his stands.

Unfortunately, we don’t need to scrutinize or speculate on what Hillary Clinton or Barack Obama will do. Tax and spend, tax and spend. Universal health care, Global Poverty, college funding, services to illegals, social welfare, global warming, et al, ad nauseum.


"Here lies, in honored glory, an American soldier, known but to God.”

THIS ELECTION IS ABOUT TWO THINGS: WINNING THE WAR ON TERRORISM AND SAVING THE SUPREME COURT.

pparets on February 18, 2008 at 09:39 am

Reinstating the draft is one of the worst ideas that the just plain
chicken
left has put forth in a long time. It is as unpopular as it is
unneeded, and would go a long way to undermine the morale and competency of
the outstanding all volunteer military we have today.

During the Vietnam War, the leftie antiwar pukes used the draft in their antiwar rantings.  It is obvious why they want a draft now, which is to use it as an excuse to cut and run from Iraq.  They can’t stand it that we have a volunteer armed forces.


"If the good men are silent only the wicked are heard.” - Edmund Burke

robert108 on February 18, 2008 at 09:53 am
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No new taxes. hah. Mccain wants to expand our military, and at the same time cut corporate income tax. More DEBT for the U.S.!

Compound Interest Calculator on February 21, 2008 at 04:19 pm

More DEBT for the U.S.!

Wrong.  Cutting corporate tax rates generates more revenue to the Treasury.  It’s the spending on useless social programs and entitlements that’s driving the debt.


"If the good men are silent only the wicked are heard.” - Edmund Burke

robert108 on February 21, 2008 at 04:28 pm
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