Tuesday, June 10, 2008

McCain Really Doesn’t Get Economy, Pay your Bills First

In what was supposed to be a rip on Barack Obama’s economic plan, but instead Sen. John McCain reinforced to many is total lack money management.

McCain, like Bush, wants to continue cutting corporate tax rates, even though there is little evidence it has satisfied business or stopped the flow of jobs overseas.

He also said Americans would see more money come out of their paychecks with Obama’s plan, and he criticized his proposal to re-negotiate Nafta. Even as American auto plants are being built in Mexico, and union job pay there is being cut in half, McCain is unaware of the problem. In an MSNBC story:

“If I am elected president, this country will honor its international agreements, including Nafta, and we will expect the same of others. And in a time of uncertainty for American workers, we will not undo the gains of years in trade agreements now awaiting final approval.

Since I’ve said my piece here a number of times, I thought it would be refreshing to see what other are saying. It’s nice to know many others have caught on to the Republicans failed economic blueprint.

Posted by Arn Hehta:
The Republicans always like to use WWII references to illustrate their support for a war and yet they balk and ridicule the fact that taxes that were raised at the onset of WW II not only helped finance the war effort but also paved the way for the “golden age” that came after WW II. Let’s hope John McCain’s economic advisers are advising him that high taxation has nothing to do with jobs transfers abroad. Even with low taxes corporations have shifted to zero tax heavens on off shore islands. 'Jobs shift’ is on account of low wages/ high skills manpower available abroad compared to US. NAFTA is also the reason for shift of manufacturing jobs to Mexico and Canada. Perhaps both candidates should offer a strategic plan to bring back manufacturing jobs back to US.

Posted by JP Milltown, nj:
“Republicans…as the Party of spending restraint.” Yesss…restraint on health care, restraint on education, restraint on veterans’ benefits, restraint on taxing the rich, restraint on extending unemployment benefits, restraint on helping citizens with homes in foreclosure…Yesss.
No restraint on war spending, no restraint on borrowing from China to fund the war, no restraint on bailing out Bear Stearns.

Posted By Jesse:
How will McCain deliver on tax cuts and continue to pay for the war in Iraq? More debt? Just curious

Posted by Art Curtis:
How does McCain propose to finance these tax cuts while continuing to fight a war that is costing tens of billions of dollars a year and piling up hundreds of billions of dollars a year of budget deficits? By eliminating waste in the budget? By cutting social programs? By letting our infrastructure deteriorate even more than it has? Sounds like a new version of “voodoo economics” to me.

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