Obama Slams McCain on Tax Cuts for the Rich (Debate 2)

Obama slams McCain on his hundreds of billions of dollars in tax cuts for the rich that dwarf his grandstanding on earmarks.

OBAMA: [...] Sen. McCain mentioned looking at our records. We do need to look at our records.

Sen. McCain likes to talk about earmarks a lot. And that's important. I want to go line by line through every item in the federal budget and eliminate programs that don't work and make sure that those that do work, work better and cheaper.

But understand this: We also have to look at where some of our tax revenues are going. So when Sen. McCain proposes a $300 billion tax cut, a continuation not only of the Bush tax cuts, but an additional $200 billion that he's going to give to big corporations, including big oil companies, $4 billion worth, that's money out of the system.

And so we've got to prioritize both our spending side and our tax policies to make sure that they're working for you. That's what I'm going to do as president of the United States.

Category:

News & Politics

Tags:

• barack
• obama
• john
• mccain
• taxes
• earmarks

[BlackRepublican2010]

"Our true choice is not between tax reduction, on the one hand & the avoidance of large Federal deficits on the other. An economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits. It is a paradoxical truth that tax rates are too high today & tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now."President John F Kennedy

[marharth]

Then Obama turns around and gives out massive tax cuts...

[guyNbluejeans]

@ChulaKirby I love the idea of a flat tax. It's simple and fair. As far as the rich not paying their share, I listen to Dr. Savage a lot and other conservative talk shows and to a person they say that it's the rich (whatever exactly constitutes being "rich") that are paying something like 98% of the taxes.

If you want to really see who's killing society on many levels, then checkout idiots that make very little money yet have LOTS of babies. All in all this country is a mess and is going down.

[guyNbluejeans]

@Sakedrinker007 Well, my life is about to be turned upside down due to my company letting me go to replace me with someone that'll worker for less money. It hurts. Our new CEO was onboard for only 6-months and she was handed over 6-mill. So now she's finding ways to cut costs and I'm one of her targets. To me it's a lousy way to treat people, loaded up some like that while screwing others, but I'll always believe rich people shouldn't be punished simply because most of them earned their money.

[shellius]

@BeeBop4933 Have to agree with that.  He's become a very weak president.

[BeeBop4933]

I will NEVER vote for a Democrat who voted to give the rich a tax cut!

I will NEVER vote for a LIAR like Obama!

[BillKiernan]

Classic con job on Obama's part. He told us what we wanted to hear, surprise surprise. They're all the same, anyone who had faith in this guy, would believe anything.

[ChulaKirby]

Imagine the day when you make a few hundred thousand dollars a year and you have to give between 31 and 36% to the people in washington. But others who make 100 million dollars a year only have to give 15% to the people in Washington. Percentage wise, who has to spend a larger percentage of their time working for the government? And you are okay with that? I'm not for socialism or Obama but I sure am not for this tax deal either.

[ChulaKirby]

@guyNbluejeans I am not a liberal but a conservative. I am against the tax cuts for the wealthy but it isn't the tax bracket of 36% which many of us pay. It is that many wealthy people don't make x number of dollars per hr or yr in salary. They own the stock of the companies we work for and make their income by our labors. I am okay with that also. What I am not okay with is they only have to pay 15% on the dividends and capital gains. This used to be taxed at their bracket.

[guyNbluejeans]

I'm as poor as one can get at making less than $14 an hour. And yet, I have a nice life with lots of nice things because I live within my budget. I don't have kids and I don't have a car payment. So what's with this business of some people thinking they have the right to someone else's money? If a person is "rich" then it's probably because they were smart and focused and driven to succeed. So why is it that so many putrid liberals think that such people should be punished for their hard work?!