The Budget According to McCain: Part II
Unfortunately, in the world of fiscal reality, it's not so easy to dole out such generous gifts.
Republished with permission from factcheck.org.
Sources
Clausing, Kimberly A. "The Role of U.S. Tax Policy in Offshoring." Brainard, Lael and Susan M. Collins. Brookings Trade Forum: 2005. Washington, D.C.: Brookings Institution Press, 2006. 457-490.
Congressional Budget Office. "Capital Gains Taxes and Federal Revenues." 9 October 2002. Congressional Budget Office. 1 May 2008.
Internal Revenue Service. "401(k) Resource Guide - Plan Participants - General Distribution Rules." 1 May 2008. United States Department of the Treasury: Internal Revenue Service. 1 May 2008.
Obama, Barack. First on CNBC Interview: CNBC's Maria Bartiromo Speaks with Senator Barack Obama on CNBC's "Closing Bell" Maria Bartiromo. 27 March 2008.
Tempalski, Jerry. "Revenue Effects of Major Tax Bills." Office of Tax Analysis, U.S. Department of the Treasury, Sept. 2006.
Tax Policy Center. "AMT Participation Rate (percent) by Individual Characteristics." 29 January 2008. Tax Policy Center. 1 May 2008.
Tax Policy Center. "Distribution of AMT and Regular Income Tax by Cash Income, Current Law." 29 January 2008. Tax Policy Center. 1 May 2008.
Tax Policy Center. "Options to Limit the Extension of the 2001-06 Tax Cuts Above $250,000, Static Impact on Individual Income and Estate Tax Liability and Revenue ($ billions), 2009-18." 11 February 2008. Tax Policy Center. 1 May 2008.
Tax Policy Center. "Repealing the AMT: Costly and Regressive." 5 January 2007. Tax Policy Center. 1 May 2008.
Tax Policy Center. "AMT Revenue per AMT Taxpayer." 29 Jan. 2008. Tax Policy Center. 1 May 2008.
Burman, Len and Julianna Koch and Greg Leiserson. "The Individual Alternative Minimum Tax (AMT): 11 Key Facts and Projections." Tax Policy Center. 1 Dec. 2006. 1 May 2008.
Weisman, Jonathan. "Falling Into Alternative Minimum Trouble." 7 March 2007. The Washington Post. 1 May 2008.
Congressional Budget Office. "Backup Data for CBO's Year-by-Year Forecast and Projections for Calendar Years 2008 to 2018." 14 May 2008.
ABC News transcript. "Obama and Clinton Debate." 16 April 2008. ABC News Web site. 14 May 2008.
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Member Comments
Posted By: Greg18 @ 05/20/2008 2:37:00 PM
Comment: Thank God for McCain, eventhough he is not a strict conservative is an independent person and is for the moderate people who are in the center. Many of us Republicans do not hold the strict conservative ideas i.e. anti-immigration, pro abortion, pro gay rights. To many of us these are the major issues that are the most important. We also believe that the USA, is being attacked in many ways by terrorists who hate us, and have said that they would love to destroy the USA. We want a strong president, who will not cave in. Believe it or not all other issues are mainstream and are not that important, as human rights of the unborn. All those so called strict conservatives, who are against immigration, and are not in the majority any longer, as you can see, we might have a Democrat for president who believe that immigration is not the major issue, and if it were so, the majority of American people would have voted for Duncan Hunter which got only 0-1% percent of primary votes. It is not true that the American people are so mean spirited as these ultra conservatives republicans who are loosing their seats. MCCain is correct in his views, that is why he is winning and will contnue to win the presidency of the USA.
Posted By: mjkittredge @ 05/16/2008 12:50:16 AM
Comment: Another republican who wants tax cuts for the rich. Does a person making 50k, 75k, 100k, 200k really need tax breaks? I think they can lead quite nice lives with that kind of income, with luxuries far beyond the rest of us. I think people making LESS than 50k could use some tax breaks, and you can be sure they'll spend it!
Republicans have this strange power over the masses, they can convince poor and middle class people to vote for them, even though those people get screwed over massively by republican policies. At least those voters can sleep well at night, knowing the politician they voted for are anti-abortion and anti-gay. Those two issues are more important than anthing else, of course.
Posted By: speakitreal @ 05/15/2008 9:51:29 PM
Comment: So not only does McCain, want to get us into a war with Russia, and China (see the NEWSWEEK article dated May 5, 2008, titled: `, in which he said that he will expel, and isolate, Russia, and China (two of the riches, and most powerful countries in the world), giving these countries even more incentive to join forces and decide to attack America, along with this they could become main sponsors of Fundamentalist Islamist terrorist, who also want to attack the USA. So not only will we have a war with terrorists to contend with, the USA will also have a war with China, and Russia. Now McCain wants to banktupt our country. McCain is NOT mentally fit to run this country.