Saturday, August 23, 2008

Bush Tax Cuts

In 2001, John McCain was one of only two Republican Senators to oppose the Bush Tax Cuts. He courageously said:

I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans who most need tax relief.

In 2003, he was one of only three Republican Senators to oppose the second round of tax cuts, and as late as November 26, 2005 he clearly stated

I just thought it was too tilted to the wealthy, and I still do.

Then why is it that he now wants to make the Bush Tax Cuts permanent, and is constantly lambasting Barack Obama's tax plan, which is weighted towards the working class and repeals those "tilted to the wealthy" cuts at the very top? And why does he want to further tilt things towards the wealthy by cutting the corporate tax, repealing the estate tax, keeping the capital gains tax low, phasing out the Alternative Minimum Tax, and increasing the child tax exemption (not the child tax credit), all things that are weighted towards higher-income individuals?

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