McCain backs tax overhaul, portable health insurance
Speaking to a gathering of small-business owners, McCain backed a "simpler, flatter and fairer" tax code, but stopped short of calling for repeal of entrepreneurs' biggest bugaboo: the death tax. What do you think?
From Jayk El Paso, TX The top income earners in this country include 23 million small businesses, which employs 75% of this country's work force. Obama is planning to raise taxes on the "mom and pop" stores across America. McCain's plan does much more to grow our economy, increase the value of our dollar and give breaks to the little guy in this country. Obama has no idea what he's talking about when it comes to the economy, other wise he would not raise the tax for these small businesses 17% to 52%, this is irresponsible!
From Mark, Minneapolis, MN Dan…while the idea of making everyone righer, vs. just the rich richer, sounds great in theory – it's not the government's job to make anyone richer. It should be up to the individual to make of themselves what they can – that's the freedom and libery that this country should be all about. The government should be trying to make sure that all citizens have the opportunity to succeed, whether they take advantage of that is up to the individual.
But it's so much easier to get elected when you tell people the government will take care of them, which is why we've steadily become less and less free and more and more dependent on government. And in the mean time the Constitution is trampled on by both the left and the right in the name of "security" and "doing good".
From Frank Angus Hulbert Jr, Parks, Arkansas Tax system needs drastic overhaul. When you buy something you should be taxed once! WIth a flat tax on income everyone uses the 2 rate system, Not using old system! flatter and fairer tax code, He needs to increase the corporate tax rate! Repeal Estate Tax, oppose efforts to move toward a state-run medical healthcare system. He needs to support the NRA, 2nd admendment rights, And he needs to get the republican party to change its directive from preaching communism and socialism to becoming an pary of the American People for the American People! Not a party of Government control!
From Guillermo, Coral Gables, Florida In my opinion, he is the only one that is bringing solid ideas to the table.
Guillermo
http://www.anibru.com
From Robert Puget Sound,WA How l-o-n-g has McBush been a senator? Did he DO anything ever, to get rid of corporate welfare? You KNOW the answer; McBush is just another Party finger-puppet, full of promises, that he, like Bush, never intends to fulfill. MORE OF THE SAME… MCCAIN!!!
From Paul South Florida Let's just ope this is just not more pre-election rhetoric to get his name in the paper and raise people's hopes then crush them after the election is over with an about face.
http://www.sellmyinventory.com
From M Lindfors HSA's do no good when people already are not saving for retirement and can't afford health care now. How do you afford health care when you can barely afford gas food and shelter. Socialism may be the answer because these greedy "small business owners" aren't redistributing the wealth to their employees who do the work. I hope these tax cutting fools all fall off a bridge that wasn't fixed because the private company with the low bid decided to cash the check and run.
From J haigh, Arbor Vitae, Wi Take a look at 'trickle down'economics and see where it has put the United States. The very idea that giving tax breaks to the richest 5 % of the population leads to such great overwhelming business investment and the creation of good-paying jobs is a farce perpetuated by these 5 %. McCain will do nothing for us but put us further in debt to china, Bush's puppet masters.
From Corey Blum, Cardiff, Ca The death tax is one of the entrepreneur's worst nightmares. There's way to combat this threat however – grow you business with confidence and security by taking the steps to ensure you are successful. I read a book called "The Answer" by John Assaraf and Murray Smith. I learned to used neural reconditioning to really take control of my doubts or concerns. Take a look:
http://www.readtheanswer.com/index.php?rta=blog
From CF WB PA Tax breaks we here it from both parties every election year. It would work to spark economic growth especially upon small businesses. But however at what cost? How will we pay the trade deficit? How are we gonna stop stealing from Social Security? The tax breaks would be done by outsourcing good goverment working class jobs. Social Security would be handled by people in third world countries. Yes we do needed a fairer tax code. But the offset in funds should be taken from the politicians pockets NOT OURS! they make more than enough money to support the US
From Ken, Portland, Maine Actually, it is called socialism – re-distributing all the wealth (after all, it ALL belongs to the government doesn't it?), eliminating any incentive to perform, and bringing everyone to the same lowest common denominator quality of life. Just because an idea has been proven a complete failure every time it has been tried in the world does not indicate that left-wing utopian fanatics should not give it another go. The USSR just needed more time, and a little more government control…
From J. M., Mt Prospect, IL So we only tax people that actually work. The very rich will pass their assets to their royalty offspring un-taxed. I believe the French had a revolution over this practice.
I have heard pols talk about small business and health care for years, but they can't even pass a law that allows small businesses to get together to purchase affordable insurance. I think the congress needs to be put on COBRA and told they have 18 months to solve this problem or loose their insurance! Also, HSA's do not work for everyone; especially if you have a child that has a disease that requires daily attention.
From Anonymous It's called "only spend what you have". Getting rid of earmarks and giving a line item veto would do wonders to the budget, but both parties are fat and happy today and only care about getting re-elected.
From LLB, BC, NV Yes, taxes and some regulation is necessary. The question becomes: How high and how much?
I, along with many other Americans, do not believe that government should tax or regulate every little thing. Nor do we believe that government should provide us with everything.
The fact that so many people want the government to "do good" by providing this or that benefit concerns me to no end. Do the advocates of such a system not realize that the same government could also "do bad"?
McCain is correct in advocating for a more simplified tax system. Moreover, why should business NOT get tax breaks? Those businesses create jobs which in turn creates more businesses which creates more jobs. THEY are producing something; they benefit society. The person sitting around collecting a welfare check has earned it how?
We have the second highest corporate tax rate in the world. THIS should concern anyone who actually works for a living. Look at what happened to Ireland when it lowered its corporate tax rates: It's booming!
As for the estate tax, Sweden (yes, socialistic Sweden) eliminated its estate tax completely. The bottom line is that whatever assets make up an estate, those assets in all likelihood were taxed during the life of the deceased.
How many times does our government need to tax the same asset?
From shaun o, bronx NY It would be nice if they cut taxes outright instead of collecting them and then taking 7 months to mail back a stimulus check for $600.00. I could have just paid $600 less and saved the govnt a bundle in postage and administrative costs. Pretty smart.?!
From Steve V Germantown MD I agree that we need a flatter and fairer tax code. The mess we have now isn't workable and with all the special interest loopholes it’s the average American who is footing the majority of the US tax bill. When I had my own small business a few years back I paid a small fortune to have a CPA do my taxes and still I would get audited. The other issue of healthcare cost is insane. In less than 7 years the cost for what I use to have and what I now have, through my employer thank god, is a factor of 5 times more. The current system is broken and needs fixed badly. If McCain could actually make it happen I would vote for him in a minute but I won’t be holding my breath as there is no fiscal responsibility in Washington by either part.
From Tom, Marietta, GA While Dan's point is valid, the answer is yes…a cut in taxes stimulates the economy sufficiently that the deficiet is reduced (by having more people paying the lower taxes and less drain on "social" services).
I read an article earlier about the dems wanting to punish the oil companies for their profits…a better plan would be to incent them to build more refining capacity in the US and allow them to further access the oil beneath the surface of our soil (and coastal waters).
Don't blast me with that mamby-pamby cost to the environment, green solution stuff – yes, the solutions must be safe and "green", but we must decrease our dependence on foriegn energy (and sorry, but solar and other forms are currently too expensive for a majority of Americans to afford, or not practical to adopt today) These alternate forms of energy need investment and time to mature…tax cuts will provide the capital to invest in these technologies…and guess what, companies (large and small) will start hiring more people, competition for good people will drive wages up, and we won't hear anyone using the "r" word.
From J. Minich, Bronxville, NY The problem with HSAs and McCain's approach is that there's zero evidence HSA's help to rein in the cost of health coverage. In addition, HSA's are most helpful to those middle and upper income people who earn enough to pay significant taxes—but the people who normally need health coverage are lower-income people who pay little or no taxes. And McCain's promise to increase tax credits and accelerate tax write-offs for small businesses is small business/small company 'welfare'; in practice little different from tax credits and write-offs that benefit big companies. No wonder the guy got a great response from the audience at NFIB…They got the promise most everyone looks for from politicians: 'Their' special Federal handouts will not only be protected but increased if the new guy gets in office. So much for the Straight Talk Express!
From Steve Evans Gallatin, Mo. Any way to pay our deficit without giving the government more money for more spending needs to be looked into and now! The government cann't even run FEMA let alone a national health care program. The government gets 13 holiday days per year, or 1/4 of 52 weeks. If we can get by with 4 day weeks for 25% of the time, cann't we get by with it for 50% or 75% or 100% of the time? Oh yes, it would be without pay… three day week- ends…wow! This would be a 15% savings across the board…including Congress! They weren't working but 3.5 days a little while back. Less time to do more harm!
From Dan, Salem, Oregon So the answer to all our ills is to cut taxes! Wow! I guess we can all stop thinking about how to REALLY address the issues that face us and just cut taxes!
So how in god's name are we suppose to pay for anything? How about that $200+ Billion that we have to spend each year just to pay interest on the debt we have today?! Oh, I know, let's cut taxes!
We've had upwards of 28 years of Reagan style economics and the theories behind it have proven to be wrong! The economy can not be dealt with by making rich people richer we have to make everyone richer. Oh, and the estate tax, what a waste of time to worry about. If you have a business that you hope to pass on to a child then you better make that child a partner and have them buy out your share. Otherwise you are just handing over a big pile of cash and I don't see a lot of respect deserved for being handed money.
In the end we have to tax, we have to regulate. It's called governing!
McCain Is NOT looking out for the middle and lower class. He's always been in the uppoer class. Why start now. Little business, big business = looking out for No. 1 – again NOT you and I. Barack Obama is our next President!