Tuesday, March 04, 2008

McCain Supports Bush's Plans for Social Security

Bush's proposal to privatize Social Security is back. McCain told the Wall Street Journal that he favors Bubble-Boy's approach to "fixing" Social Security. This approach calls for privatizing Social Security and was so unpopular with the public that the Republican-controlled Congress wouldn't even have the legislation introduced.

This is from the Wall Street Journal article:

On Social Security, the Arizona senator says he still backs a system of private retirement accounts that President Bush pushed unsuccessfully, and disowned details of a Social Security proposal on his campaign Web site.

He also came out in favor of extending BB's reckless tax cuts to the rich and lowering the corporate tax rate. This means, of course, that the United States would face even more deficit spending. This is also from the WSJ article:

Behind the scenes, his campaign is searching for ways to pay for Sen. McCain's tax proposals. In addition to extending the Bush tax cuts, the 71-year-old candidate would slash the corporate income-tax rate from 35% to 25% at a cost to the Treasury of $100 billion a year, estimates Mr. Holtz-Eakin.

In all, his tax-cutting proposals could cost about $400 billion a year, according to estimates of the impact of different tax cuts by CBO and the McCain campaign. The cost will make it difficult for him to achieve his goal of balancing the budget by the end of his first term.

So let's see what the McCain record is:

1. Doesn't care if the U.S. is in Iraq for a 100 years;

2. Makes jokes about bombing Iran;

3. Has flip-flopped on Bubble-Boy's tax cuts, being against them in 2001 and now for them in 2008;

4. Wants to privatize Social Security; and

5. Wants to cut taxes for corporations.

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