Higher taxes a sure thing with next president?
(PHOTO CREDIT: GALLUP)
FROM CNN's Jack Cafferty:
During these shaky economic times, many Americans are betting on higher taxes – no matter who the next president is.
A new Gallup poll shows 53% of those surveyed think Barack Obama would raise their taxes as president; 34% think John McCain would hike taxes if he gets the job. Both of these numbers are higher than what Americans expected from John Kerry and George Bush last time around.
And, what's especially interesting is that a substantial number of independents – that ever-important voting bloc – think their taxes will go up under either candidate.
Republican John McCain has pledged to renew President Bush's tax cuts, which he opposed twice while in the Senate. However after he promised not to raise taxes, McCain now says nothing can be ruled out in order to keep Social Security solvent.
As for the Democrat, Barack Obama, he's said he'll raise income taxes on the wealthiest but provide a tax cut to middle class Americans.
Although more people think their taxes would go up under an Obama administration – they also think he is better equipped to handle the issue of taxes. Gallup suggests this may be because a majority of Americans think Obama's policies will benefit the middle class and the poor most... while they think McCain's policies will help the wealthy.
Here’s my question to you: Are higher taxes inevitable with the next president?
Interested to know which ones made it on air?
John McCain changes his tune on taxes?
Senator John McCain participates in the televised Republican debate at the Reagan Library. Click the play button to see what Jack and our viewers had to say
FROM CNN's Jack Cafferty:
When it comes to the Bush tax cuts, John McCain has a pretty complicated story. See if you can follow along:
It starts with being against them before he was for them. At this week's debate, McCain said he opposed the tax cuts in the past because they didn't come with spending cuts. But that's not what he said at the time.
In 2001, McCain said President Bush's $1.35 trillion tax cut benefited the wealthy at the expense of the middle class. At the time, he tried but failed to change the bill to reduce income tax cuts for the wealthiest and give greater benefits to those earning less money. Not a word about spending cuts.
In 2003, McCain opposed a $350 billion tax cut. In that instance, he said it was because there should be no tax cuts while the cost of the Iraq war and its aftermath were still unknown.
Flash forward to the 2008 presidential race. Not only is McCain giving a different reason for his previous opposition to tax relief, but he now wants to make the Bush tax cuts permanent, fighting what he calls "the Democrats' plans for a crippling tax increase." This is from the man who calls his campaign bus "The Straight Talk Express."
Of course, it's not too hard to figure out why he's suddenly for the cuts now: McCain's opposition to the Bush tax cuts is one of the many reasons why he's come under such harsh criticism from many in the conservative base.
Here’s my question to you: Why would John McCain misrepresent his own record when it comes to the Bush tax cuts?
Interested to know which ones made it on air?
Taxing the rich?
FROM CNN's Jack Cafferty:
Democratic presidential contenders are calling for higher taxes on the richest Americans and on big corporations.
At yesterday's debate, Hillary Clinton said she wants to keep the "middle class tax cuts" that Congress passed under President Bush, but favors raising taxes for the wealthiest.
John Edwards agreed, saying that our tax policy "Has been established by the big corporations and the wealthiest Americans." He says the U.S. should get rid of those tax breaks.
And Barack Obama weighed in saying, "We need to put those tax breaks and tax loopholes back into the pockets of hardworking Americans."
The Democrats also agreed that the idea of balancing the federal budget would have to wait, with Obama saying we won't be able "to dig ourselves out" of the Bush era deficits in the next year or two. Only Bill Richardson said balancing the budget would be a high priority, noting that as New Mexico governor, that's what he's required to do.
All this, of course a far cry from what we heard from the Republican candidates the day before. They called repeatedly for the elimination of the estate tax and reduction in the income tax on corporations.
Here’s my question to you: Is calling for higher taxes on the rich a good strategy for the Democratic presidential candidates?
@jackcafferty on Twitter
Recent Comments