Greenspan: Country can't afford McCain's tax cuts
Sep 13 04:00 PM US/Eastern
By GLEN JOHNSON
Associated Press Writer
"John McCain opposed President Bush's tax cuts in 2003, because they didn't include the necessary spending controls. Sen. McCain's proposed job-growing tax cuts are modest in comparison to his plans to slow the exploding growth of federal expenditures—meaning that contrary to Chairman Greenspan's assertions, this relief isn't proposed on borrowed money," said McCain spokesman Tucker Bounds.
McCain's REAL objection to the Bush tax cuts was that they mostly went to the rich, as Think Progress noted:
“There’s one big difference between me and the others–I won’t take every last dime of the surplus and spend it on tax cuts that mostly benefit the wealthy.” [McCain campaign commercial, January 2000]
“I am disappointed that the Senate Finance Committee preferred instead to cut the top tax rate of 39.6% to 36%, thereby granting generous tax relief to the wealthiest individuals of our country at the expense of lower- and middle-income American taxpayers.” [McCain Senate floor statement, May 21, 2001]
“But when you look at the percentage of the tax cuts that–as the previous tax cuts–that go to the wealthiest Americans, you will find that the bulk of it, again, goes to wealthiest Americans.” [NBC’s “Today,” Jan. 7, 2003]
The VERY conservative magazine Human Events has a longer list of McCain's objections to the Bush tax cuts:
John McCain's Top 10 Class-Warfare Arguments Against Tax Cuts
01/16/2008
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