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Sunday, July 13, 2008

McCain Tax Plan favors Wealthy, Offers Little For Middle Class

clipped from www.salon.com

The economy has vaulted past Iraq and terrorism as the most pressing concern on voters' minds this election season, and both McCain and Barack Obama are trying to show they feel voters' pain. McCain has called for help for those facing mortgage foreclosures and has pledged to balance the federal budget by 2013. But the centerpiece of his economic plan is a tax-cut proposal more sweeping than anything envisioned by George W. Bush.

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But according to a respected, independent group of tax-policy experts, McCain’s plan would balloon the deficit and provide a windfall to the wealthy while affording only nominal relief to middle-class taxpayers. McCain has moved toward the Republican base on a handful of issues this campaign season, but his tax plan might actually shift the erstwhile deficit hawk to the right of the current president.

Right wing tax cut zealot/activist Grover Norquist agrees that McCain's tax policies are farther right than even Bush's. "The McCain tax policy is to continue the Bush tax cuts and add three more, so I prefer McCain," he told Salon. "McCain's is bigger, better."

When Grover Norquist is excited about a tax policy, it means that people who aren't rich would be screwed. It's practically a law of physics.

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