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McCain outlines plan for pension and family security
Republican presidential candidate John McCain today, Oct. 14, is to unveil his “Pension and Family Security Plan” to help workers, homeowners and seniors through the current financial crisis.
His proposal come a day after his opponent, Democrat Barack Obama, outlined his “Economic Rescue Plan for the Middle Class” in a Toledo speech.
Highlights of McCain’s proposal include:
Lowering taxes on seniors tapping retirement accounts.
Suspending tax rules that force seniors to sell stocks in the midst of the financial crisis.
Accelerating the tax write-offs for those forced to sell at a loss in the current market.
Reducing capital gains taxes for 2009 and 2010 to raise the incentive to save and invest.
Purchasing mortgages directly from homeowners and mortgage servicers and replacing them with manageable, fixed-rate mortgages.
Eliminating taxes on unemployment benefits.
The new proposal builds on the plan McCain announced last week to use $300 billion of the $700 billion bailout recently enacted by Congress and President Bush to keep Americans in their homes, stop declining housing values and stabilize financial markets. Click here for more on the plan.
McCain also is moving ahead on his “Jobs for America” plan. Click here for more on that plan.
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By John McSame
October 14, 2008 6:31 PM | Link to this
www.plainmcsame.orgBy Ethel S.
October 14, 2008 1:06 PM | Link to this
Sen. Obama revealed his tax plans and they are exactly what I thought they would be. More and higher taxes without much thought. No one would want to invest in any corporation in this country because an investor would have to pay 28% capital gain taxes and 33% on corporation taxes. It gives businesses a lot more incentive to go to other countries where the taxes are cheaper. Many prominent economists have commented that you do not raise taxes in a cash strapped economy. Sen. McCain’s plan to help homeowners is exceptionally good, along with protecting small businesses from heavy taxes, and finding markets for USA goods are all sound. And the most important of Sen. McCain’s policies is to develop our own energy sources which has so much potential for jobs and revenue for this country. While the Obama supporters love to link Sen. McCain to GWB, how about Sen. Obama’s plans looking like they are part and parcel Do No Dem Congress backed by Rep. Pelosi and Sen. Reid. And where was Rep. Frank and Sen. Dodd a year ago or two to clean up Fanny Mae and Freddie Mac leading us down this mortgage meltdown? At least, Sen. McCain tried to cosponsor legislation to point out these mortgage problems. Nice try, Obama zealots, but the Dems running this country would be a financial and national security disaster. Vote for McCain/Palin.By Leslie
October 14, 2008 11:04 AM | Link to this
Acorn uses various affiliated groups to agitate for “a living wage,” for “affordable housing,” for “tax justice” and union and environmental goals, as well as against school choice and welfare reform. It was a major contributor to the subprime meltdown by pushing lenders to make home loans on easy terms, conducting “strikes” against banks so they’d lower credit standards. But the organization’s real genius is getting American taxpayers to foot the bill. According to a 2006 report from the Employment Policies Institute (EPI), Acorn has been on the federal take since 1977. For instance, Acorn’s American Institute for Social Justice claimed $240,000 in tax money between fiscal years 2002 and 2003. Its American Environmental Justice Project received 100% of its revenue from government grants in the same years. EPI estimates the Acorn Housing Corporation alone received some $16 million in federal dollars from 1997-2007. Only recently, Democrats tried and failed to stuff an “affordable housing” provision into the $700 billion bank rescue package that would have let politicians give even more to Acorn. All this money gives Acorn the ability to pursue its other great hobby: electing liberals. Acorn is spending $16 million this year to register new Democrats and is already boasting it has put 1.3 million new voters on the rolls. The big question is how many of these registrations are real. Which brings us to Mr. Obama, who got his start as a Chicago “community organizer” at Acorn’s side. In 1992 he led voter registration efforts as the director of Project Vote, which included Acorn. This past November, he lauded Acorn’s leaders for being “smack dab in the middle” of that effort. Mr. Obama also served as a lawyer for Acorn in 1995, in a case against Illinois to increase access to the polls. During his tenure on the board of Chicago’s Woods Fund, that body funneled more than $200,000 to Acorn. More recently, the Obama campaign paid $832,000 to an Acorn affiliate. The campaign initially told the Federal Election Commission this money was for “staging, sound, lighting.” It later admitted the cash was to get out the vote. The Obama campaign is now distancing itself from Acorn, claiming Mr. Obama never organized with it and has nothing to do with illegal voter registration. Yet it’s disingenuous to channel cash into an operation with a history of fraud and then claim you’re shocked to discover reports of fraud. As with Rev. Jeremiah Wright and William Ayers, Mr. Obama was happy to associate with Acorn when it suited his purposes. But now that he’s on the brink of the Presidency, he wants to disavow his ties. The Justice Department needs to treat these fraud reports as something larger than a few local violators. The question is whether Acorn is systematically subverting U.S. election law — on the taxpayer’s dime. McCain has to clean up Obama’s and the democrats’ mess.By Bush Senior was right
October 14, 2008 10:38 AM | Link to this
Voodoo economics. We have been waiting 25 years for trickle down economics to work. The only thing that trickles down is the bill for the fraud, corruption, and abuse of Wall Street.By karissa
October 14, 2008 10:35 AM | Link to this
yay! let’s put a band aid on a bullet wound shall we? McCain is all talk. Any kind of relief will go to big business or rich washington aristocracy like himself.By karissa
October 14, 2008 10:34 AM | Link to this
yay! let’s put a band aid on a bullet wound shall we? McCain is all talk. Any kind of relief will go to big business or rich washington aristocracy like himself.By karissa
October 14, 2008 10:33 AM | Link to this
yay! let’s put a band aid on a bullet wound shall we? McCain is all talk. Any kind of relief will go to big business or rich washington aristocracy like himself.By Karissa
October 14, 2008 10:31 AM | Link to this
well isn’t that lovely? McCain is going to put a band aid on a bullet wound. The republicans have earned themselves a few years in the dog house. Don’t reward failure by re-electing a republicanBy Karissa
October 14, 2008 10:31 AM | Link to this
well isn’t that lovely? McCain is going to put a band aid on a bullet wound. The republicans have earned themselves a few years in the dog house. Don’t reward failure by re-electing a republicanBy Karissa
October 14, 2008 10:30 AM | Link to this
well isn’t that lovely? McCain is going to put a band aid on a bullet wound. The republicans have earned themselves a few years in the dog house. Don’t reward failure by re-electing a republicanBy shawn
October 14, 2008 10:03 AM | Link to this
JOHN MCCAIN SUCKS AND THATS ALL I GOTTA SAY ABOUT THAT JENNYBy null
October 14, 2008 9:56 AM | Link to this
Too little too late. More Bush economics-failure witha capital “F”