McCain tax cuts for the wealthy more expensive than Obama tax cuts for the middle class?

Question

Those who know say yes:

"Mr. McCain's tax plan would give those in the bottom fifth of income an average tax cut of $21 in 2009. The middle fifth would get $325 -- less than a third of the Obama cut. The wealthiest taxpayers make out terrifically."

"The country can't afford the tax cuts either man is promising, although Mr. McCain's approach is by far the more costly."

Source: Washington Post Editorial (not a mere op-ed!!!!), Continuing Deception, Mr. McCain's ads on taxes are just plain false, Sunday, August 31, 2008;

See also the (nonpartisan!) Tax Policy Center

Answer 1

Yes, but an editorial none the less. And it's amazing how they are able to pinpoint the bottom fifth will get an exact $21 yet the wealthiest taxpayers (who pay over 80% of the taxes mind you) "make out terrifically". Can't be any more specific than "terrifically"?

Answer 2

i don't believe washington post or time magazine or new york time..ect..ect.

they are all bias.

O"rielly be better guide.

too much tax break Obama is a shady thing.

BUSH tax plan back in 2000..is still in motion..and economy grow and grew..ect

then 9/11 heappen

good thing tax break were already in motion. and now gasoline gone up..because democrat and enviromentalist didn't want USA to expand, since 1974.

clinton DROPPED the MPG requirement in the 90s..and we're suffering for that mistake. cause them cars of mid 90's till NOW..would be making 26mpg city..on ALL cars..

the big corp auto..should be doing the right thing..but MONEY is GOD..to many.

and we suffer for it.

anyway, taxes is not the solution.

cut the paycheck of congress is the solution! reduce the vacationing time.

reduce their benefits..and lifetime retirment, banned earmark which made our war look very expensive when 25% of it were earmarks.

we need a 3rd party to keep both parties in ORDER

Answer 3

Not only is this true, but trickle down economics has been totally debunked.

Jobs created under Bush 5 million

Jobs created under Clinton 28 million.

Percent of wealth controlled by top 10% of population under Clinton 38%

Percent of wealth controlled by top 10% of population under Bush 50%

In fact, tax cuts on the rich have proven to be a disincentive to innovation and growth.  What happens when wealthy have more money because they do not pay taxes is that they do not feel a need create businesses and jobs. They keep the money.

The economy growth under Bush was the best that money could buy. All borrowed money loaned from overseas that we now know will never be repaid. The world is onto us now. We will actually have to earn our next 8 years of income.

Answer 4

Obama's tax cut is just smoke and mirrors. His Socialist Agenda will not work without money so bend over and grab your ankles.

This is not an op-ed either this is the truth and here is my source ---- USSR circa 1980

Answer 5

there is no middle class tax cut if Obama is President, if you make under $42,500 / year you won't see a tax increase

McCain's plan is to continue the Bush tax cuts on the rich, if ur middle class, no tax cuts, or tax increase

Answer 6

Don't forget to factor in the Capital Gain tax hike Mr Obama proposed. Also the tax hike on small business, and payroll taxes, ect.  How else do you think he will fund his TRILLIONS in new spending?  

Answer 7

Mccain will cut taxes for the wealthy and the burden will remain for the middle class. Obama will be different. he will raise taxes for those who earn 250,000 or more and cut taxes for the middle class.