Thursday, October 23, 2008

Tax uncertainty

coming from the Obama & McCain camps:
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.

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.'"

President-Media-Elect Obama, you are a smart man, right? What is the opposite of stimulus? Taxes! So how about lower taxes and spending?

No comments:

Post a Comment