Hillary Clinton Campaign on John McCain’s Economic Speech

Statement from Policy Director Neera Tanden

4/15/2008 -- "John McCain is offering an economic strategy today that American's simply cannot afford: a George Bush-redux of corporate windfalls and tax cuts for the wealthy that will bankrupt our government and leave working families with the bill.

Hillary Clinton: Photo by Chris Dunn (CC)

In an economy where typical families incomes are down and corporate profits have reached record highs, the last thing that hardworking families need is a President committed to slashing corporate taxes. In November, voters will have a clear choice: Senator McCain wants $100 billion in new corporate tax cuts, while Senator Clinton believes we should provide more than $100 billion in tax cuts for middle class families and a real plan to create high wage jobs here in the United States. And despite Senator McCain’s protestations otherwise, Senator Clinton would not raise taxes by one cent on anyone making less than $250,000 per year.

Senator Clinton's plan will take back tax breaks and giveaways from the big oil companies, drug companies and special corporate interests, and invest in infrastructure and clean energy to help create millions of good, high-paying jobs here in the U.S. She will restore fairness to our tax code by closing the loopholes for companies that ship jobs overseas and reward U.S. companies that invest in America and help create good jobs. And she will restore fiscal responsibility and move us back toward balanced budgets.

John McCain promises straight talk. But his speech today is really double talk.

Senator McCain spoke about the excesses of companies like Countrywide. But what he fails to mention was that Countrywide would have received a $500 million tax cut under his plan.

He spoke about closing corporate loopholes. But his plan is a corporate tax lobbyists dream, creating new corporate tax shelters that will let many of the most profitable companies avoid paying taxes altogether. Under the McCain plan, Exxon-Mobil -- the most profitable company in the history of the world -- would get a $1.4 billion tax cut.

He spoke about "the responsibility to act." But it took Senator McCain two speeches and a complete u-turn in his own positions to even recognize that we had a housing crisis that could require the government to take action.

And he spoke about fiscal restraint. But what he doesn't mention is that his plan would cost at least a half-trillion dollars per year and further cede our economic sovereignty to countries like China.

Instead of focusing on the interests of corporations, Hillary Clinton will focus on the interests of middle-class Americans as president."

Source: Hillary Clinton campaign

Bookmark/Search this post with:

 •    •    •    •    •    •    •    •    •    •    •    •