John McCain Flip Flops on Taxes

New McCain Rips Old McCain's Argument That Bush Tax Cuts Only Benefit Wealthy

Posted by Matt Corley, Think Progress at 8:33 AM on February 18, 2008.

Now that he has to court the hardline anti-tax factions of the conservative movement, McCain is changing his story on tax policy.

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On ABC's This Week today, host George Stephanopoulos asked Sen. John McCain (R-AZ) about Democratic proposals to protect "middle-income Americans" and "only raise" taxes "on the wealthy." In response, McCain bristled at Stephanopoulos's distinction, mockingly warning against rhetoric that talks about "who the, quote, 'wealthy' are in America":

MCCAIN: But more importantly, we'll argue about whether we should increase your taxes or decrease them. Obviously, I'm for decreases in taxes. Maybe Americans want their taxes increased. We'll argue about...

STEPHANOPOULOS: ... for middle-income Americans, only raise them on the wealthy?

MCCAIN: Oh, yes, sure, the wealthy, the wealthy. Always be interested in when people talk about who the, quote, "wealthy" are in America. I find it interesting.

Now that he has to court the hardline anti-tax factions of the conservative movement, McCain is changing his story on tax policy. In 2000, 2001, and 2003, McCain was one of the people "interested" in talking about "who the, quote, 'wealthy' are in America" when he argued against Bush's tax cuts that "mostly benefit the wealthy":

"There's one big difference between me and the others-I won't take every last dime of the surplus and spend it on tax cuts that mostly benefit the wealthy." [McCain campaign commercial, January 2000]

"I am disappointed that the Senate Finance Committee preferred instead to cut the top tax rate of 39.6% to 36%, thereby granting generous tax relief to the wealthiest individuals of our country at the expense of lower- and middle-income American taxpayers." [McCain Senate floor statement, May 21, 2001]

"But when you look at the percentage of the tax cuts that-as the previous tax cuts-that go to the wealthiest Americans, you will find that the bulk of it, again, goes to wealthiest Americans." [NBC's "Today," Jan. 7, 2003]

McCain now appears more interested in protecting the "wealthy" than he does in straight talk.

Matt Corley is a Research Associate for The Progress Report and ThinkProgress.org at the Center for American Progress.

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Also by Matt Corley
Ifill: Palin 'Blew Me Off' During the Debate No kidding. October 6, 2008.	The Governator Requests $7 Billion Federal Bailout for California This doesn't bode well. October 3, 2008.	Lieberman on FOX: Pass the Bailout Because 'It Will Be Good for John McCain' Oh, and also because it'd be good for the country. October 2, 2008.	McCain Tells Insensitive Ethnic Joke During Speech Irish-Catholic organization says McCain's Irish joke was 'an insult to a whole nationality.' September 26, 2008.	Huckabee Calls McCain's Debate Ploy a 'Huge Mistake' "You can’t just say, 'World stop for a moment. I’m going to cancel everything.'" September 26, 2008.

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No longer any doubt [Report this comment] Posted by: zipper696 on Feb 18, 2008 9:05 AM Current rating: Not yet rated [1 = poor; 5 = excellent] McCain is a total sellout. I kinda hope that Jeebus Huckabee can overturn this scumbag's run for the nomination, at least Huck always tells us up front what he believes... [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] McCain McCain you have no brain [Report this comment] Posted by: paula.c on Feb 18, 2008 10:06 AM Current rating: Not yet rated [1 = poor; 5 = excellent] if you think you can fool many people with this recidivism to the Bushies. Is it still "Tax the Poor and Middle Class" and save the Rich. Or is that the old "Trickle Down"? We Democrats are not Dumb! [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] Midway54 [Report this comment] Posted by: Midway54 on Feb 18, 2008 10:16 AM Current rating: Not yet rated [1 = poor; 5 = excellent] President McCain=Third Term Bush II Crowd "Ronnie" McCain continues to shamelessly flip-flop to become the successor of The Puppet in the Oafel Office and to become a Bush II third term presidency. Beating his breast and boasting that he is a true conservative, McCain is grovelling before his quasi-fascist, ultra-Right winger warrior sponsors and indicating his willingness to continue with the obscene tax cuts during war time for the upper .5% and spending cuts at the same time to cover them. He needs to be cornered and grilled about where those spending cuts will be made. The great majority of Americans know: No cuts in corporate bailouts,subsidies and general welfare for them; no cuts in building bigger and better military forces for invasions and conquests of countries with great oil deposits or with authoritarian types who are unable (or in some cases unwilling) to keep their people controlled so as to cause no trouble for our miltinational corporations moving in and paying them less than a living wage under terrible working conditions. Best of all he will work to shred the social safety net programs, medicare, medicaid, privatize social security to the delight of Wall Street, and fight against universal health care, with the ludicrous assertion that families need to decide their own health care needs (but can't afford the premiums?). Voters need to review the legal, political and labor history of the U.S. from 1890 to 1940 to see the kind of government policies McCain and his sponsors long for. Simply because McCain endured what he did in service of this Country, does not assure us that his ideas and his aspirations as President are for the good of all of us. In fact, it will be more of the same: Enormous prosperity for the few at the top of the incomes scale and the stagnant economic existence for all the rest of us as the middle class moves toward extinction thanks to the accelerating outflow of industries that once provided decent jobs and a decent lifestyle for all Americans. For McCain, it is laissez-faire, social Darwinism uber alles. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] Taxes in a time of war [Report this comment] Posted by: JSquercia on Feb 18, 2008 1:45 PM Current rating: Not yet rated [1 = poor; 5 = excellent] John McCain voted AGAINST the Bush Tax Cuts saying that it was WRONG to cut taxes in a time of war .McCain had it right with that idea He was also correct in stating the Bush Tax cuts disproportionately benefited the wealthy . What people tend to ignore is the cut in Capital Gains rates goes overwhemingly to the wealthiest as does the newly added cut in dividends and of course who can forget the elimination of the Death Tax that impacts .3% of the Estates in this country . When asked to produce a SINGLE case where the infamous death Tax caused the loss of a Family Farm or Family Business the Republicans could NOT produce a SINGLE ONE OR about the same number as the number of people who saw Dubya at those National Guard meetings in Alabama . What is really interesting is the fact that while the Republicans talk about the ownership society and say that since most Americans have stocks within their 401-K's and Retirement Plans the aforementioned cuts benefit ALL Americans . EXCEPT that isn't true !!! Those 401-K's are tax deferred and so get no benefit . However when the money is withdrawn it is treated as Ordinary Income and taxed at ordinary rates NOT the more Favorable Capital Gains & Dividends tax rates . Those rates are ONLY for Individuals like Cheney . One other neat trick they NEVER mention is that when you LOSE money in the Market you get to DEDUCT it as a Capital Loss . That is of course ONLY available to individual Investors NOT your 401-K ( lose money there and it is tough luck -- think of the Enron case) [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] I Can't Wait [Report this comment] Posted by: bloggeddowninMKE on Feb 18, 2008 3:23 PM Current rating: Not yet rated [1 = poor; 5 = excellent] to see either Obama or Hillary take this guy apart in a debate. Grab a bowl of popcorn, sit back, and enjoy... [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] me ranting [Report this comment] Posted by: meranting on Feb 18, 2008 9:29 PM Current rating: Not yet rated [1 = poor; 5 = excellent] I think it's very pathetic to watch the decay of John McCain. The only good thing about him is the fact that I don't think he stands a chance against either of the presidential candidates. On the other hand if you look at the Democrats overall record nothing surprises me anymore, in other words it wouldn't surprise me if they managed to screw up the election somehow. Me Ranting - Sittin' In The South - Can't Shut My Mouth [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

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