The new McCain loves tax cuts. But many of his claims about them are off.
In our last installment we looked at McCain's pronouncements on spending cuts to help balance the budget. In Part II, we examine what he's said on a subject that might be more pleasing to many Americans: lowering taxes. We found exaggerations and distortions here, as well.
McCain says that eliminating the Alternative Minimum Tax will save "more than 25 million ...
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This story is full of garbage. It is taken only from the liberal vierwpoint. There is plenty of evidence that tax rate cuts increase revenues, not just in the short term but over the long haul. Why? Well, there might be a small pent up demand to sell that occurs when capital gains rates are cut. But the big big issue is that the economy does better, much better. And that produces more tax receipts. Happens every time. From JFK to Reagan to Bush II. And tax receipts increased for Reagan's full two terms. That is not what I would call temporary. Too bad this site doesn't have an open enough mind to review some conservative articles on the subject.
