McCain Will Bankrupt the United States

J

jamis359

John McCain was quoted by the Boston Globe as saying that economics is not his strong point. His economic proposals echo his self-admitted shortcomings.

McCain says he will

- extend Bush's tax cuts forever (a huge flip-flop, given McCain's strong opposition to the cuts in 2001).

- extend the Iraq War forever

- eliminate the Alternative Minimum Tax

This is nothing short of a recipe for fiscal disaster. With huge budget deficits already in place now, it doesn't make sense to increase spending (the war) while decreasing revenues further. This will cause deficits to balloon and put pressure on an already wounded dollar.

McCain seems to have bought into the popular Republican fairy tale that tax cuts are stimulative. They can be, but only when taxes are too high. When cutting taxes too low the positives are outweighed by the negatives caused by excessive government indebtedness.

One U.S. Dollar now only fetches 0.65 Euros. If McCain is elected then we're looking at the Euro going for $2 or more.
 
LOL ... hmm, the nation will be bankrupt but the wealthy, who get most of the tax relief, won't be. Middle class smaller, government defaulted, rich are richer ... ah, I see the Grand Plan now :-)
 
It's not a revenue problem, it's a spending problem.

The rich pay a much higher dollar value and volume vs the lower middle/poor.
It's the 80/20 rule. I;m working on getting into the 20%, you should be to.
 
McCain says he will

- extend Bush's tax cuts forever (a huge flip-flop, given McCain's strong opposition to the cuts in 2001).

- eliminate the Alternative Minimum Tax

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These are the only ways he can get idiots to vote for him but they don't realize someone has to pay the piper soon.
 
Quote from FortuneTeller:

Latest poll I have seen says yes, he can beat Hillary or Obama.
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hahahahah hahahahahh ahahahahhhhaahahahahahhhahahha


morons that voted for Bush might vote for him, I think Americans have realized how the last 8 years have screwed up their lives, and would just like not to make the same mistake
 
Quote from sellingrich:

It's not a revenue problem, it's a spending problem.
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This is the real problem. Congress is tripping over each other trying to spend money as fast as they can (can you say earmark? It used to be called pork barrel spending). Bush has allowed Congress to go wild with spending and now presidential candidates want to take more money from the people so the government can increase spending even more.
 
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