Meet the New Boss, Same as the Old Boss

Written by: DFA Staff on Apr 16, 2008 5:00 PM EDT

(Editor's Note: The following is from an email I received earlier today from the Campaign to Defend America's Future -- Danny, Communications Director) 

John McCain is the same as George Bush on the economy. McCain's plan, like Bush's gives break after break to millionaires and wealthy corporations, but does little for middle class families.

McCain's corporate tax cuts would give $3.8 billion in tax breaks to the 5 biggest oil companies and $1.9 billion in tax breaks to the 10 biggest health insurers. Meanwhile, families who are struggling to pay the bills get much less.

McCain makes Bush’s tax cuts permanent, and calls for a $1.7 trillion tax cut for corporations according to a Center for American Progress Action Fund report.

America’s top 5 oil companies Exxon, Shell, Valero and others would stand to receive a $3.8 billion tax savings, while the average family *might* save $44.40 from McCain’s gas holiday.

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THE REVIEWS ARE IN: "GEORGE W. MCCAIN”’S ECONOMIC PLAN "OFFERS PLENTY FOR CORPORATE WORLD"

McCain's Plan for Working Class Offers Plenty for Corporate World (Washington Post, 4/16/08):

Sen. John McCain yesterday offered sweeping rhetoric about the economic plight of working-class Americans, promising immediate assistance even as he spelled out a tax and spending agenda whose benefits are aimed squarely at spurring corporate growth. In a speech billed as the most comprehensive summary of McCain's economic vision to date, the candidate proposed to eliminate the alternative minimum tax, slash corporate income tax rates and offer a grab bag of other business breaks.

McCain Reverses Position to Support Bush Tax Cuts New Plan Includes Billions in Breaks; Setting Up a Clash (Wall Street Journal, 4/16/08):

John McCain famously opposed President Bush's tax cuts a few years ago, saying they would irresponsibly swell the budget deficit. Now the Arizona senator not only supports extending those cuts indefinitely, he is backing more than $200 billion a year in new breaks.

McCain Outlines Broad Proposals for U.S. Economy (New York Times, 4/16/08):

There was a strong supply-side bent, with Mr. McCain focusing on cutting corporate taxes and making permanent the Bush tax cuts that he once opposed.

George W. McCain (Boston Globe editorial, 4/15/08):

JOHN MCCAIN' acknowledged that he didn't know much about economics a few weeks ago, and this shortcoming manifested itself yesterday when he unveiled his fiscal platform.

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