McCain’s Tax Cut Plan: Start With The Gas Tax
Posted by Bill Dupray
on Apr 15 2008 Filed under Politics.
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John McCain came out with a broad economic plan and the linchpin is cutting taxes. The best political part of the plan, by far, is his proposal to suspend the 18 cent per gallon federal tax on gasoline from Memorial Day to Labor Day.
This goes right after one of the toughest, most noticeable bills Americans have to pay every week. When people say the economy is bad or headed in the wrong direction they think of retail expenses like gasoline, which affects everyone’s budget. Gas prices may not be a big indicator of a weak economy, but if voters believe it is, then it becomes a powerful message that McCain “feels our pain.”
The best part is that come September people will see the tax increase on gas when it kicks back in, and they may just prefer to make the cut permanent.
The Dems can either oppose the gas tax holiday, thereby looking like the elites they are, or they can jump on McCain’s bandwagon. It is win/win for McCain.
His other proposals are not too shabby either. From the New York Times
On other taxes.
He called once again for making the Bush tax cuts, which he voted against, permanent, and for cutting corporate taxes, phasing out the alternative minimum tax and doubling the value of exemptions for each dependent to $7,000 from $3,500. He also proposed giving people the option of using a simpler, shorter tax form.
On spending.
On the spending side of the ledger, Mr. McCain pledged to veto every bill that comes to his desk with earmarked pork-barrel projects in it, and to order a one-year freeze on increases in most discretionary spending — a relatively small portion of the overall federal budget — while he reviews every federal program, department, and agency.
“While that top to bottom review is under way, we will institute a one-year pause in discretionary spending increases with the necessary exemption of military spending and veterans benefits,� he said. “ ‘Discretionary spending’ is a term people throw around a lot in Washington, while actual discretion is seldom exercised.�
For good measure he called out the two Democrats, one of whom will presumably be his opponent in November.
Mr. McCain took a few swipes at his Democratic rivals, Senators Barack Obama and Hillary Rodham Clinton, for calling for a rollback of some of the Bush tax cuts. “They’re going to raise your taxes by thousands of dollars per year, and they have the audacity to hope you don’t mind,� he said, in an allusion to the title of one of Mr. Obama’s books, “The Audacity of Hope.
Nice touch.
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