Sen. McCain, who proposes a "refundable tax credit" as the cornerstone of his health-care plan, has described Sen. Obama's proposal to offer a series of refundable tax credits as similar to offering "welfare." The Illinois senator has said 95% of Americans would benefit from some form of tax relief under his economic plan.President-Media-Elect Obama, you are a smart man, right? What is the opposite of stimulus? Taxes! So how about lower taxes and spending?Sen. McCain has said his opponent's plan would give tax relief to the 38% of Americans who do not pay any federal income taxes. The Obama campaign says beneficiaries pay payroll taxes.
The McCain campaign said Mr. Goolsbee's comment reflected Sen. Obama's "willingness to say whatever is necessary in the moment." Sen. McCain on Wednesday said Sen. Obama had indicated his preference for redistributing wealth over promoting economic growth.
"It raises a question: What is their philosophy of taxation?" said senior McCain adviser Douglas Holtz-Eakin. "No one would design a tax policy about mortgage interest, but say, 'If you're laid off, you're not going to become eligible anymore.'"
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Thursday, October 23, 2008
Tax uncertainty
coming from the Obama & McCain camps:
Labels:
campaigning,
economic policy,
McCain,
Obama,
taxes
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