NBC: Obama's Plan Lowers Taxes, McCain's Plan Balloons Debt

NBC Nightly News did an in-depth report on September 22, 2008 which highlighted the differences between McCain's tax plan and Obama's tax plan. Clearly, Obama's plan is the better plan for lower and middle-income Americans, and McCain's plan is better for the richest 1% of Americans.

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  News & Politics

[wormyyea]

baloons debt?

this sob just stuck 2 trill on my kids.

in least than a month

[lipidfats]

I'm not open for debate, so i'll stop you now from wasting your time. The election's over, i'll be glad to debate in four years. For now, you get to watch Obama go back on his promises as Pelosi/Reid bully him around with their wacked out ideas. Can congress possibly reach lower approval ratings? Is there even any room for that? Please don't respond, i'm not interested. If you must, click post text comment at the top, so I don't receive a notification.

[Bellator656]

No, Hoover did not deepen the depression by taxing, but by cutting spending, which was the measure of federal budget-balancing that crucially weakened demand. When Carter cut capital gains taxes and regulations on crucial sectors, it spurred no private investment. When Reagan slashed taxes (on the rich) and regulations more, private investment continued to decline.

[Bellator656]

No. Cutting taxes on the richest doesn't stimulate the economy: and conversely raising them doesn't worsen a recession. Hoover worsened the depression not by taxing, but by cutting spending: which is exactly what McCain proposed. When Carter cut capital gains taxes and cut regulations in key sectors: no increase in private investment occured. Likewise, when Reagan radically continued those cuts, private investment rates continued to decline about 1.2 %.

[lipidfats]

Who cares? The election is over, go do something productive.

It's common knowledge that raising taxes during a recession is a NO-NO. Of course there's evidence - Herbert Hoover, maybe you've heard of him? Raised taxes and led us into a depression.

During a recession, if a company gets their taxes raised how do you think they will balance their budget? By cutting jobs and raising consumer prices. Clinton was lucky because he had the dotCOM boom to entertain his higher taxes.

[Bellator656]

There's no evidence to support the suggestion that tax increases for the very rich create unemployment. Historical evidence strongly suggests to the contrary.

[8lifeisbeautiful8]

McShit with IQ under 50 don't understand about finance and tax