Archive for Saturday, October 25, 2008

McCain says Democrats would harm middle class

Obama leaves campaign trail to visit grandmother

October 25, 2008


Election 2008

In-depth coverage of the candidates and the issues, all leading up to the Aug. 5 primary and the Nov. 4 general election.

— Republican presidential nominee John McCain said Friday that if his Democratic rival Barack Obama is elected along with a Democratic Congress, the middle class is "going to be put through the wringer."

McCain told a noisy rally in Denver, "The answer to a slowing economy is not higher taxes, but that is exactly what is going to happen when the Democrats have total control in Washington."

Obama has proposed a tax increase on the 5 percent of taxpayers who make more than $250,000 a year and advocates tax cuts for those who make less.

The Arizona senator ridiculed the idea that any tax increases would be narrowly targeted and, at the same time, sought to link Obama to the unpopular Congress.

"Anytime you hear talk of a targeted tax increase, you might want to double-check the skill of the marksman - the U.S Congress has been known to fire wildly," McCain said. "America didn't become the greatest nation on earth by giving our money to the government to spread the wealth around."

The meltdown in financial markets and the national economic downturn have helped undermine McCain's standing in the polls nationally and in key battleground states because Obama is viewed more favorably than McCain on handling economic issues.

McCain continued to bash his rival as Obama left the campaign trail to visit the very ill grandmother who helped raise him.

"Sen. Obama says he's trying to soak the rich, but it's the middle class who are going to be put through the wringer, because a lot of his promised tax increase misses the target," McCain said. He said Obama's tax plans would boost taxes for half the nation's small businesses, a figure Obama disputes.

Speaking as the stock market plummeted again, McCain said he would focus on working families.

"I'm not going to spend $750 billion dollars of your money just bailing out the Wall Street bankers and brokers who got us into this mess," he said. "I'm going to make sure we take care of the working people who were devastated by the excesses of Wall Street and Washington."

Both McCain and Obama backed the $700 billion financial rescue package that President Bush signed into law.

McCain's plan to use half that money to have the government buy up troubled mortgages at full face value and then negotiate easier loan terms with the homeowners has been criticized by Democrats and a number of conservative Republicans on grounds it would not force profligate lenders to share in the losses from their bad loans.

Chanting protesters briefly interrupted McCain, but he dismissed them, saying voters "want us to stop shouting at each other." Police led the protesters, who were advocating rights for the disabled, from the arena.

McCain trails in most polls for Colorado's nine electoral votes, but he's scheduled three stops in the state and offered an optimistic prediction.

"This is going to be a tough state, but we're going to be up late and we're going to win here," McCain said.


deec 9 years, 6 months ago

Nice generalizations and name-calling. Care to address the corruption in the GOP ticket?

camper 9 years, 6 months ago

Obama's proposal is based on net income after all business expenses are properly deducted. This is how it would affect small business:$100,000 net income Your tax rate is reduced$200,000 net income Your tax rate is reduced$249,999 net income Your tax rate remains the same$280,000 net income Your tax rate increases only on the margin above 250k If Joe the plumber is lucky enough to net $280,000 (which would be a remarkable feat) the extra taxes he would pay is $900. After making more than a 1/4 million bucks, an extra $900 does not seem to be unfair, or an attack on the middle class. What planet is McCain on anyway?

KEITHMILES05 9 years, 6 months ago

McCain has nothing to offer this country other than negative things to say about his opponent. That says it all about him.

beatrice 9 years, 6 months ago

McCain's latest economic plan to help the middle class is to rent rooms to families at affordable rates so they can live in one of his many homes. With the rich getting richer and the poor poorer, I think the middle class has shrunk so much it just might work.camper makes a good point: "$280,000 net income Your tax rate increases only on the margin above 250k."This is the way the tax code works. If you make about a certain amount, your entire income isn't taxed at the higher level, just that portion of the certain amount. This will remain true with Obama's plan.

deec 9 years, 6 months ago

Keating 5. Troopergate. Using private email for government business to avoid pubic records requirements. Charging Alaska for staying in her own home. Charging Alaska for junkets with her children. Hiring lobbyists to obtain 27 million dollars in Federal money for a tiny town. Attempting to ban books. Hiring banking lobbyists as campaign managers. Collecting a full disability pension after serving for 30 years. And you think Obama is corrupt?

Frank Smith 9 years, 6 months ago

The radical fundamentalists will make a huge effort to turn out voters in Colorado, including with the so-called "personhood" amendment, which would give a zygote or a blastocyst rights over that of a woman. This is true religious extremism and should concern us all.

tangential_reasoners_anonymous 9 years, 6 months ago

Any moment now, expect McCain to apply lipstick and don fishnets. Pander.

beatrice 9 years, 6 months ago

ottr, you only wish you could be as intelligent, educated, and self-made as Michelle Obama. She is a great American -- you, on the other hand, might as well be typing while wearing your klan hood. Calling an accomplished woman like her a "thug" and harping on Obama's middle name is simply repugnant, and you know it.

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