McCain rolls out new economic proposals

[Roland99]

Source: MarketWatch

McCain rolls out new economic proposals
Retirement, tax policies unveiled a day before final presidential debate

WASHINGTON (MarketWatch) -- Sen. John McCain was rolling out new economic proposals aimed at seniors, investors and the unemployed on Tuesday, a day before he was to face Sen. Barack Obama in the final presidential debate.

Among the specific ideas to be offered by McCain, R-Ariz., was a proposal to tax withdraws from individual retirement accounts and 401(k) plans at the lowest rate of 10% this year and in 2009. McCain is also expected to call for reducing the maximum tax rate on long-term capital gains to 7.5% in 2009 and 2010 and for exempting unemployment benefits from taxation.

McCain was slated to detail the plans at a town hall meeting Tuesday in Montgomery County, Pa.

The new proposals would come as the Republican contender trails his Democratic challenger in the polls. With less than a month to go until Election Day, McCain is behind Obama by about 7 percentage points in the latest average of polls from RealClearPolitics.
The proposals are aimed at helping workers, homeowners and seniors who are hurting as a result of the financial crisis, McCain's campaign said.

Read more: http://www.marketwatch.com/news/story/mccain-rolls-out-new-economic/story.aspx?guid=%7BCC1649EC%2D4418%2D42D0%2D8065%2DFF518DB31419%7D&dist=hplatest

[SpiralHawk]

1. Oh no, not more Republicon econo-crapola dumped on America!

America has suffered enough already under republicon co-called 'conservativism,' aka fatcat corruption & corporate welfare.

Spare America and Americans from Republicon Socialism & Corruption, puh-lease.

[torbird]

7. A day late and several billion dollars short, John

I mean, fuck. 401K? Didn't I just pay a "stupid Republican" tax on that, of like 50%?

McCain: bailing out investors and old people like him. Fuck everybody else.

[Nickster]

2. That really shows where his priorities are. Tax regular people needing to withdraw from their 401Ks

at a higher rate than the Cap Gains tax? Haven't we seen what reducing the Cap Gains tax does already? Where's the beef? J-O-B-S!

[sinkingfeeling]

3. McSame is really good at playing 'Follow the Leader', isn't he?

[snappyturtle]

4. This morning on WJ was a newspaper comparison of Sen. Obama's

economic proposals and mcsame's. It was quite a contrast along party lines....Obama's plan helps the average American; mcsame's helps the rich and corporations. eom

[CitizenPatriot]

5. wait., what money out of our 401ks?????

there isn't any money left, you ass clown.

jesus h christ. wake the fuck up and smell the coffee burning in the kitchens across america.

[Limelight]

10. Actually

Retirement accounts lost about 2 trillion last week, but gained back over a trillion in yesterday's rally. It's unstable and people have lost money, but some of that is coming back. Besides I think Obama said he wanted to stop taxing withdrawls period for an unspecified, temporary period.

[CitizenPatriot]

11. well, my accounts havne't gone back up by that amount

it depends on what you were invested in. it's not as if the same stocks went magically back up.

Obama wants to remove the penalty for early withdrawal of your money, I believe. As in, you may need this emergency money to buy food.

My point is, McCain always assumes we have oodles of money and it's just a matter of how much that money is taxed. Hello, Mccain? I lost over 50% of my networth and no, it didn't magically come back yesterday. It isn't bleeding as badly, but let's not forget- many many people sold out of their investments at the pit and for them, there isn't much left.

[CommonSense2k8]

6. New and McCain?

something about that sentence doesn't work for me...

[PSPS]

8. This actually shocks me

The usual way these things have been playing out is that McCain rolls out his "idea du jour" and it ends up being the same plan as Obama already put forth. He does this, of course, because he's losing and he thinks he'll garner more votes by "coming up" with the same plan.

But this new idea departs from that recipe. I mean, this plan isn't just bad, it's REALLY bad. This must be another one of McCain's famously inept "Hail Mary" moves. This is just a blatant giveaway to the rich while, at the same time, making it easier for ordinary people to further impoverish themselves. This plan would actually encourage LESS saving while increasing the deficit even further.

[shotten99]

9. Zig Zag McCain

Wait. Zig Zag Zell sounded better.

[Politicalboi]

12. John Me Too

I don't have any money in a 401, but it would help to be able to take out $10,000 or 15% like Obama wants rather than watching it go down the drain.

[Winterblues]

13. Tax Cuts...Now who would have ever thought Republicans would want that?

That is their answer to everything unless they are being blamed for something and then it "Clinton's Fault"