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Posts Tagged ‘US Economy’

POPULIST RHETORIC VS. REALITY IN THE PALMETTO STATE
Gov. Huckabee Raised Regressive Taxes On Working Families

“I don’t think he understands the free market business system. He’s not good on taxing, he’s not good on spending, he’s not good on free trade. In other words, all the prosperity factors seem to be Mr. Huckabee’s weakness. I don’t think he understands it. He’s just out of tune with all measures of free market, supply side economics.” – CNBC’s Larry Kudlow (Hugh Hewitt Radio Show, 12/21/07; www.youtube.com/watch?v=mvfhmE6PKxI)

Using Democrat Class Warfare Language, Gov. Huckabee Claims To Defend “The Poorest People”:

In South Carolina, Gov. Huckabee “Dwelled On The Economic Pain Felt By The Working And Middle Class.” “Continuing to reach out to his evangelical base, Mr. Huckabee, a former Baptist pastor, spoke at North Greenville University, a Southern Baptist institution. There he dwelled on the economic pain suffered by the middle and working classes…” (Michael Luo and Michael Cooper, “Focus Shifts To S. Carolina For Romney And Rivals,” The New York Times, 1/17/08)

Gov. Huckabee Has Accused Oil Companies Of “Stealing From Absolutely The Poorest People.” “Gov. Mike Huckabee on Thursday night lambasted the profit levels of oil companies, saying they ‘are stealing from absolutely the poorest people.’ He also suggested the Legislature enact a uniform pay scale for school superintendents in the state.” (Michael R. Wickline, “Huckabee Lashes Out At Oil Firms Over Profits,” Arkansas Democrat-Gazette, 10/28/05)

Gov. Huckabee Takes Cues From Democrat John Edwards, Waging “Class Warfare.” “Does Huckabee really believe that Reaganomics represents a philosophy of greed? … This is the rhetoric that is being religiously flogged on an hourly basis by Democrat John Edwards over on the class warfare side of the divide.” (Jeffrey Lord, “Huckabee Attacking Reaganomics,” American Spectator, 12/28/07)

Yet As Governor, Huckabee Raised Taxes On Working Families:

Gov. Huckabee Raised Taxes $883.1 Million, Cut $378 Million In Taxes, For A Net Tax Increase Of $505.1 Million. “But a review of tax legislation passed while he was governor shows a net tax increase of $505 million, a figure adjusted for inflation and economic growth, according to the state Department of Finance and Administration. … The 90 cuts reduced tax collections by $378 million, according to the Department of Finance and Administration. Meanwhile, the department counts 21 tax increases that raised collections by $883.1 million.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

  • The Average Arkansan Saw Their Taxes Increase Almost $1,000 Under Gov. Huckabee. “The average Arkansan’s tax burden grew from $1,969 in the fiscal year that ended June 30, 1997, to $2,902 in the fiscal year that ended June 30, 2005, including local taxes.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

Higher Sales Tax, Higher Income Tax, Higher Gas Tax:

Gov. Huckabee Actually Stood Before the Legislature And Begged Them To Raise The Income Tax, Sales Tax, And Tobacco Tax. GOV. HUCKABEE: “There is a lot of support for a tax at the wholesale level for tobacco. That’s fine with me. I will very happily sign that… Some have suggested the retail level of tobacco. If that ends up being your preference, I will accept that. Others have suggested a surcharge on the income tax. That’s acceptable. I’m fine with that. … Others have suggested perhaps a sales tax. That’s fine. Yet others have suggested a hybrid that would collect some money from any one or combination of those various ideas… If that’s the plan that the House and Senate agree upon, then you will have nothing but my profound thanks.” (Mark Silva, “Conservatives Target A Once Tax-Happy Huckabee,” Chicago Tribune’s The Swamp Blog, 11/12/07; www.youtube.com/watch?v=DaJW7nXw30A)

  • Following His Pleas, The Legislature Passed An Income-Tax Surcharge Which Gov. Huckabee Signed. “Three days after the start of the May special session, the Legislature passed a bill that raised taxes on tobacco products and established on a 3 percent income-tax surcharge. Huckabee signed the bill into law hours later. It raised $97 million its first year in effect.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

“During His 10 Years As Arkansas Governor, Huckabee Supported Numerous Tax Increases.” (Andrew DeMillo, “Despite No-Tax Pledge, Huckabee Pressed By Fiscal Conservatives,” The Associated Press, 3/14/07)

“Huckabee Increased Taxes On Sales, Gasoline, Cigarettes And Nursing Homes.” “The Club for Growth, which advocates limited government and lower taxes, has repeatedly criticized Huckabee since his formation in January of a presidential exploratory committee. It notes that as governor, Huckabee increased taxes on sales, gasoline, cigarettes and nursing homes.” (Andrew DeMillo, “Despite No-Tax Pledge, Huckabee Pressed By Fiscal Conservatives,” The Associated Press, 3/14/07)

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Today, Sen. McCain called for an economic stimulus because the economy “is in some difficulty.”  But, only a week ago, Sen. McCain said “the fundamentals of this economy are strong, and I believe they will remain strong.” And, today, Sen. McCain says corporate tax cuts will stimulate the economy.  But, in the past, Sen. McCain has mocked corporate tax relief as stimulus.

“So after almost three decades spent on Capitol Hill and after joining with Democrats to vote against the Bush tax-relief plans not once but twice, Senator McCain all of a sudden wants to try and help the economy work?”

 “Job creation and economic growth require a unique understanding of global economic challenges and require experience developing and implementing a vision of transforming the economy.  Senator McCain’s votes against pro-growth economic policies and his pessimism about the future of our economy are typical of his Washington-centric approach.”

Republican presidential hopeful, Sen. John McCain, R-Ariz., ...“No one believes that if Ford Motor Co. received a $1 billion check from the federal government that they’d spend it immediately.” – Sen. John McCain On Corporate Tax Cut Stimulus In 2001 (Joe Salkowski, “Stimulus Splits Area Lawmakers,” [Tucson] Arizona Daily Star, 11/29/01)

Today, Sen. McCain Called For An Economic Stimulus Because The Economy “Is In Some Difficulty”:

Sen. McCain, January 17, 2008: ”I Know The Economy Is In Some Difficulty … Particularly In South Carolina.” (Tom Raum, “McCain Proposes Economic Plan With Corporate Tax Break,” The Associated Press, 1/17/08)

But, Only A Week Ago Sen. McCain Called The Economy Strong And Said It Will Remain Strong:

Sen. McCain, January 10, 2008: “And By The Way, I Don’t Believe We’re Headed Into A Recession. I Believe The Fundamentals Of This Economy Are Strong, And I Believe They Will Remain Strong.” (Fox News, Republican Presidential Candidate Debate, Myrtle Beach, SC, 1/10/08)

Today, The McCain Campaign Says Corporate Tax Cuts Will Stimulate The Economy:

Sen. McCain New Economic Stimulus Plan Calls For Lower Corporate Income Tax Rates. “Republican presidential candidate John McCain proposed an economic stimulus plan on Thursday that would lower the corporate income tax rate and provide a host of other tax breaks for business.” (Tom Raum, “McCain Proposes Economic Plan With Corporate Tax Break,” The Associated Press, 1/17/08)

  • Sen. McCain: ”Now Is The Time To Act To Stimulate Our Economy …” (Tom Raum, “McCain Proposes Economic Plan With Corporate Tax Break,” The Associated Press, 1/17/08)

But In The Past, Sen. McCain Has Attacked Stimulus Via Corporate Tax Cuts:

In 2001, Sen. McCain Opposed A Plan To Cut Corporate Taxes To Help Stimulate The Economy. “Southern Arizona’s representatives in Congress are split on how to break a deadlock over an economic stimulus proposal called for by President Bush. … McCain, a Republican, criticized a part of the GOP-backed House bill that would repeal the corporate alternative minimum tax and refund 15 years’ worth of revenue collected from major corporations under that law.” (Joe Salkowski, “Stimulus Splits Area Lawmakers,” [Tucson] Arizona Daily Star, 11/29/01)

Sen. McCain Mocked Corporate Tax Relief As Stimulus: “No One Believes That If Ford Motor Co. Received A $1 Billion Check From The Federal Government That They’d Spend It Immediately.” “‘The House bill would give billions of dollars in tax money to big corporations’ without creating much benefit for the economy, McCain said. ‘No one believes that if Ford Motor Co. received a $1 billion check from the federal government that they’d spend it immediately.'” (Joe Salkowski, “Stimulus Splits Area Lawmakers,” [Tucson] Arizona Daily Star, 11/29/01)

Today, The McCain Campaign Says Tax Cuts For Consumers Are Not Needed To Stimulate The Economy:

The McCain 2008 Campaign Says Tax Rebates For Consumers Are Not Needed To Stimulate The Economy. “What about putting money directly in the hands of consumers, something some economists and Democratic candidates are proposing? ‘Don’t go for any gimmicks like a rebate or subsidies to people. They don’t need subsidies. They need lower taxes on the factors of production,’ [McCain adviser Jack] Kemp says.” (Alex Frangos, “Jack Kemp Previews McCain-onomics,” The Wall Street Journal, 1/17/08)

But In The Past, Sen. McCain Said Lower Income Tax Rebates Were The Way To Stimulate The Economy:

Sen. McCain, 2001: “A Good Package Would Be One That Gives Relief To Low- And Middle- Income Taxpayers.” “‘A good package would be one that gives relief to low- and middle- income taxpayers, one that extends unemployment and health-care benefits to the unemployed and offers some tax breaks that would take effect quickly,’ [Sen. McCain] said.” (Joe Salkowski, “Stimulus Splits Area Lawmakers,” [Tucson] Arizona Daily Star, 11/29/01)

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Well it’s no surprise to anyone. From Drudge:

Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas.

I know that Rush is really having a hard time with this. He just doesn’t want to have to escort us down the dreary road of a recession. Glenn Beck on the other hand is convinced this is the next Armageddon – or at least pretty close. I kinda think that Glenn is more on target. If you haven’t had a chance to check out Shadow Stats to get the real truth on the economy, now is a good time. Basically the bunk you hear about from most politicians and the MSM are spewing stats that the government decided to inflate to make things look more hunky dory. They actually leave out energy and food from their ratings. So what actually going on is much worse. Compounded is the worthless dollar. Gold has soared to $800 or so in the last few weeks.

Americans are in massive debt and America itself is in massive debt. The cranks and levers to fix it are maxed out. ABC news reports that the Fed may be dropping interest rates another .05% but that the effects may not be “felt for months.” The dollar is sinking fast and at any point in time, China or someone else, could dump dollars into our economy shifting London to become the new Wall street. What was even more pathetic is that our President was begging for more oil from the Saudi’s this week and was refused. Can you say that we are d-e-s-e-p-e-r-a-t-e?

One argument Rush uses, and I don’t know which report it is, says that the middle class is shrinking presumably because the middle class are “moving up” in the world. Maybe, but the stats are listing by “household”. I have yet to hear anyone say this out loud but it is simply because our whole economy is based on at least two people per household are bringing in money.

So what about those of us who are living on one income, doing all the right stuff, home schooling, and all the other duties and responsibilities of being a CFO (Chief Family Officer) living under the 100K black line. This is THE segment of the population that IS hurting. We don’t admit it because we are boldly going where few people dare to tread. Living on one income to stay home and actually raise children ourselves is now one of those rare oddities. I look at it as the fine art of nurturing souls. And it seems to be paying off one of mine (10 years old) studies Real Clear Politics every day (PS2 on the weekends) but at this rate he’s either going to become a statistician like his uncle or he’s going to run for president.

So what would be a more accurate description is that the real families of America are biting the bullet of unbelievable financial sacrifice to raise their own children to be the future of America. Financially we all know the death grip is only going to squeeze tighter. But I can tell you that the people who have chosen to staunchly fight against what feels like every effort in the world to destroy the family are willing to pay that price.

So Rush, there might be one factor you might be missing is that there are many noble families stalwartly living the American Dream of Dad off to work and the boys wrestling in living rooms, chasing the dog around the house who’s stealing toilet paper and turn on talk radio every second they can to listen to you and Glenn and Sean, and of course, whine about getting their school work done. And mom doesn’t make a dime in all of it.

Here’s some more things to take a look at:

Can Your Personal Finances Survive a Recession?

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“BUT YOU DID RAISE TAXES, DIDN’T YOU, GOVERNOR?”
Gov. Huckabee Supported Higher Taxes & More Government Spending

“Taxes are a necessary part of funding a reasonable and responsible government. Taxing too little can result in financial imbalances and deficits as well as underfunding truly vital roles the government should fill…” – Gov. Mike Huckabee (Gov. Mike Huckabee, From Hope To Higher Ground, 2007, p. 101)

Gov. Huckabee’s Record Of Higher Taxes And More Big-Government Spending:

This Morning, Gov. Huckabee Admitted That He Raised Taxes To Pay For Increased Government Spending. CBS’ BOB SCHIEFFER: “But you did raise taxes, didn’t you, Governor? I mean in addition to cutting taxes you did raise some taxes?” HUCKABEE: “Bob when you’re under a Supreme Court order, you do what you need to do to improve your schools. I worked with our legislature. And we got major really improvements done in our school system that without our kids would still be languishing in last place. I don’t apologize for raising the expectations and the hopes and the opportunities for the kids of my state. I don’t apologize for building roads either. I’d apologize for leaving my roads in a mess is what I’d be apologizing for if I hadn’t done it.” (CBS’ “Face The Nation,” 1/13/08; www.youtube.com/watch?v=BPh67alcYSI)

Huckabee Raised Taxes $883.1 Million, Cut $378 Million In Taxes, For A Net Tax Increase Of $505.1 Million. “But a review of tax legislation passed while he was governor shows a net tax increase of $505 million, a figure adjusted for inflation and economic growth, according to the state Department of Finance and Administration. … The 90 cuts reduced tax collections by $378 million, according to the Department of Finance and Administration. Meanwhile, the department counts 21 tax increases that raised collections by $883.1 million.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

FactCheck.org: “Overall, His Tax Increases Outweighed His Tax Cuts By More Than $500 Million.” “As we’ve said several times now, Huckabee’s 94 tax cuts include things like a reduction for manufacturing machinery that reduced state coffers by $500 per year. And, overall, his tax increases outweighed his tax cuts by more than $500 million. As for signing the first broad-based tax cut in 160 years, we’ve noted before that then-governor Bill Clinton signed an income-tax reduction in 1991 that was quite similar to the one that Huckabee signed a few years later. ‘Broad-based’ is a matter of interpretation, but Huckabee’s claim still sounds like unwarranted hyperbole to us.” (FactCheck.org, www.factcheck.org, Posted 1/7/08)

The Average Arkansan Saw Their Taxes Increase Almost $1,000 Under Gov. Huckabee. “The average Arkansan’s tax burden grew from $1,969 in the fiscal year that ended June 30, 1997, to $2,902 in the fiscal year that ended June 30, 2005, including local taxes.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

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Sen. McCain Is Pushing An Energy Tax Hike That Would Harm Michigan

McCain For Energy Tax Hike“What do John McCain, Environmental Defense, the Natural Resources Defense Council, and the Pew Center on Climate Change have in common? They have united to support a massive new tax increase on energy – which will raise costs throughout the economy and threaten the vitality of, among others, the oil and automobile industries I suspect that many who would be significantly harmed by McCain’s wrongheaded tax plan –  say, blue-collar workers in Michigan – have never heard of it.” (Roy Cordato, “McCain’s Costly Tax On Energy,” National Review, www.nationalreview.com, Posted 1/10/08)


Sen. McCain Is Pushing For A Massive New Energy Tax Which Would Especially Harm Michigan:

Sen. McCain’s Legislation Would Dramatically Raise Taxes On All Carbon-Based Fuels. “What is not widely understood is that he is currently sponsoring legislation that, in the name of fighting global warming, would dramatically raise the tax on all carbon-based fuels, including gasoline, home heating oil, coal, and to a lesser extent, natural gas.” (Roy Cordato, “McCain’s Costly Tax On Energy,” National Review, www.nationalreview.com, Posted 1/10/08)

Sen. McCain’s Energy Policy Could Devastate The Auto Industry. “Higher energy costs will, among other things, raise the cost of manufacturing big-ticket items in American factories. And higher gas prices will likely raise demand for those classes of automobiles that tend to be manufactured overseas. Somehow, I think Michigan voters will be less than thrilled about this, should anyone bother to inform them.” (Roy Cordato, “McCain’s Costly Tax On Energy,” National Review, www.nationalreview.com, Posted 1/10/08)

Sen. McCain’s Plan Would Send Gas Taxes Sky High And Would Harm The National Economy:

The EPA Estimates Sen. McCain’s Plan Would Hike Gas Taxes By 68 Cents Per Gallon. “The EPA has estimated what the McCain energy tax would mean to consumers. Since the bill’s provisions are phased in, the full cost of the tax would not be felt for a number of years. But in a letter to Senator McCain dated July 2007, the EPA estimated that the tax will be about $.26 cents in current dollars per gallon of gasoline by 2030 and $.68 cents per gallon by 2050.” (Roy Cordato, “McCain’s Costly Tax On Energy,” National Review, www.nationalreview.com, Posted 1/10/08)

The EPA Estimates Sen. McCain’s Plan Would Reduce United States GDP By As Much As $5.2 Trillion. “The effect on the economy of the McCain tax would be similar to any other broad-based tax. In the EPA’s own words: ‘The present value of the cumulative reduction in real GDP for the 2012-2030 period ranges from $660 billion to $2.1 trillion…the cumulative reduction in the present value of real GDP for the 2012-2050 period ranges from about $1.6 trillion to $5.2 trillion.'”  (Roy Cordato, “McCain’s Costly Tax On Energy,” National Review, www.nationalreview.com, Posted 1/10/08)

Sen. McCain Has Repeatedly Teamed Up With Sen. Joe Lieberman To Push Radical Climate Change Legislation:

McCain-Lieberman Would Have Capped Carbon Dioxide Emissions. “The latest bill rejected by the Senate, sponsored by Sens. John McCain, R-Ariz, and Joe Lieberman, D-Conn., would have mandated caps on carbon dioxide and a market-oriented system for trading them. Those who needed more energy could theoretically buy credits from those who could make do with less. But government would still have to establish the overall cap on energy use.” (Thomas Bray, Op-Ed, “Public Rejects Giving Control Of Energy Use To Government,” The Detroit News, 6/26/05)

  • McCain-Lieberman Would Have Hiked Gas Prices. “The increases in gasoline prices projected to occur (is) 9 percent in 2010 and 19 percent in 2025.” (“Analysis Of Senate Amendment 2028, The Climate Stewardship Act Of 2003,” Energy Information Administration, 1/6/07)

The American Council For Capital Formation’s Margo Thorning Said That McCain-Lieberman Would “Significantly Hurt Michigan’s Economy.” “Imposing the McCain/Lieberman bill… would also significantly hurt Michigan’s economy. Residential electricity prices are projected to rise by 12 to 30 percent, household income falls by up to $791 and there would be up to 33,000 fewer jobs in by 2010 compared with the baseline forecast, according to an analysis by CRA International.” (Margo Thorning, Op-Ed, “Opinion: Capping Global Warming Gases Will Cost Michigan Jobs With Little Cooling,” The Detroit News, 3/22/07)

  • Thorning Said McCain-Lieberman “Would Seriously Harm Detroit’s Auto Industry.” “Proposals like McCain/Lieberman would seriously harm Detroit’s auto industry, as both union and management leaders noted earlier this month in a joint appearance before Congress. So profits would sink and jobs would vanish. That’s a high price to pay for a negligible benefit to the environment.” (Margo Thorning, Op-Ed, “Opinion: Capping Global Warming Gases Will Cost Michigan Jobs With Little Cooling,” The Detroit News, 3/22/07)

Detroit News Columnist Thomas Bray Said That The McCain-Lieberman Plan Would Ultimately Result In A Huge Indirect Tax On The American People.  “Aside from the crucial question of whether a government bureaucracy is smart enough to do so, even environmentalists confess that Kyoto or McLieberman measures would have been a small first step in clamping a huge indirect tax on the American and world economy.” (Thomas Bray, Op-Ed, “Public Rejects Giving Control Of Energy Use To Government,” The Detroit News, 6/26/05)

The U.S. Energy Information Administration Estimated That McCain’s Global Warming Legislation Would Have Decreased U.S. GDP By $776 Billion. “The cumulative losses in actual GDP are about $776 billion (1996 dollars) in the SA.2028 (McCain-Lieberman)…. The peak, single-year impact on actual GDP under SA.2028 occurs in 2025, with a loss of $76 billion (1996 dollars), or about 0.4 percent of GDP. The largest percentage change in actual GDP, 0.5 percent, occurs in 2011, where the estimated loss in actual GDP that year is $57 billion…” (“Analysis Of Senate Amendment 2028, The Climate Stewardship Act Of 2003,” Energy Information Administration, 1/6/07)

“Impact Of McCain-Lieberman * If The Climate Stewardship Act Passes, It Would Increase:

  • Energy Costs By 30 To 50 Percent.
  • Unemployment By Nine Percent.
  • Electricity Costs By 46 Percent.
  • Fuel Oil Prices By 33 Percent.
  • Inflation By 27 Percent.” (Editorial, “Climate Stewardship Bill Would Starve U.S. Economy,” The Detroit News, 10/30/03)

Sen. John Kerry (D-MA) Said McCain-Lieberman Was “The Right Thing To Do.” “Continuing his fight for environmental protection and energy security, Senator John Kerry (D-Mass.) today joined a bipartisan group of Senators in offering an amendment to the Energy Bill that would ensure that America takes a leadership role in addressing the effects of global climate change. … Kerry said. ‘It is not just the right thing to do, it is the smart thing to do.'” (Sen. John Kerry, “Kerry Joins Bipartisan Group In Offering Climate Change Amendment To Energy Bill,” Press Release, 6/22/05)

Sens. McCain, Kerry And Lieberman Voted For Global Warming Legislation That Was Soundly Rejected By Senate Republicans And Democrats. 49 Republicans and 11 Democrats voted against McCain’s “greenhouse gas” amendment to the energy bill. (H.R. 6, CQ Vote #148: Rejected 38-60: R 6-49; D 31-11; I 1-0, 6/22/05, McCain, Kerry and Lieberman Voted Yea)

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Huckabee Raised Taxes & Attacked The Free Market

“I don’t think he understands the free market business system. He’s not good on taxing, he’s not good on spending, he’s not good on free trade. In other words, all the prosperity factors seem to be Mr. Huckabee’s weakness. I don’t think he understands it. He’s just out of tune with all measures of free market, supply side economics.” – CNBC’s Larry Kudlow (Hugh Hewitt Radio Show, 12/21/07; www.youtube.com/watch?v=mvfhmE6PKxI)

Gov. Huckabee Uses Democrat Class Warfare Language, Claiming To Defend “The Poorest People”:

Gov. Huckabee Accused Oil Companies Of “Stealing From Absolutely The Poorest People.” “Gov. Mike Huckabee on Thursday night lambasted the profit levels of oil companies, saying they ‘are stealing from absolutely the poorest people.’ He also suggested the Legislature enact a uniform pay scale for school superintendents in the state.” (Michael R. Wickline, “Huckabee Lashes Out At Oil Firms Over Profits,” Arkansas Democrat-Gazette, 10/28/05)

Gov. Huckabee Said He Is “Not In Favor Of The Wall Street Crowd.” “Huckabee said he is different from his rivals because he comes from humble beginnings. ‘Nobody owns me and I’m not in the favor of the Wall Street crowd, and that ought to be in your best interest,’ he said.” (Rossi Lisa, “Huckabee Says Campaign Is Building Momentum,” The Des Moines Register, 8/9/07)

Gov. Huckabee Takes Cues From Democrat John Edwards, Waging “Class Warfare.” “Does Huckabee really believe that Reaganomics represents a philosophy of greed? … This is the rhetoric that is being religiously flogged on an hourly basis by Democrat John Edwards over on the class warfare side of the divide.” (Jeffrey Lord, “Huckabee Attacking Reaganomics,” American Spectator, 12/28/07)

Yet As Governor, Huckabee Raised Taxes On Working Families – Including Hiking The Sales Tax And The Income Tax:

Huckabee Raised Taxes $883.1 Million, Cut $378 Million In Taxes, For A Net Tax Increase Of $505.1 Million. “But a review of tax legislation passed while he was governor shows a net tax increase of $505 million, a figure adjusted for inflation and economic growth, according to the state Department of Finance and Administration. … The 90 cuts reduced tax collections by $378 million, according to the Department of Finance and Administration. Meanwhile, the department counts 21 tax increases that raised collections by $883.1 million.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

The Average Arkansan Saw Their Taxes Increase Almost $1,000 Under Gov. Huckabee. “The average Arkansan’s tax burden grew from $1,969 in the fiscal year that ended June 30, 1997, to $2,902 in the fiscal year that ended June 30, 2005, including local taxes.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

Gov. Huckabee Actually Stood Before the Legislature And Begged Them To Raise The Income Tax, Sales Tax, And Tobacco Tax. GOV. HUCKABEE: “There is a lot of support for a tax at the wholesale level for tobacco. That’s fine with me. I will very happily sign that… Some have suggested the retail level of tobacco. If that ends up being your preference, I will accept that. Others have suggested a surcharge on the income tax. That’s acceptable. I’m fine with that. … Others have suggested perhaps a sales tax. That’s fine. Yet others have suggested a hybrid that would collect some money from any one or combination of those various ideas… If that’s the plan that the House and Senate agree upon, then you will have nothing but my profound thanks.” (Mark Silva, “Conservatives Target A Once Tax-Happy Huckabee,” Chicago Tribune’s The Swamp Blog, 11/12/07; www.youtube.com/watch?v=DaJW7nXw30A)

  • Following His Pleas, The Legislature Passed An Income-Tax Surcharge Which Gov. Huckabee Signed. “Three days after the start of the May special session, the Legislature passed a bill that raised taxes on tobacco products and established on a 3 percent income-tax surcharge. Huckabee signed the bill into law hours later. It raised $97 million its first year in effect.” (Daniel Nasaw, “Gaps Led To Taxing In Huckabee Years,” Arkansas Democrat-Gazette, 10/9/07)

“During His 10 Years As Arkansas Governor, Huckabee Supported Numerous Tax Increases.” (Andrew DeMillo, “Despite No-Tax Pledge, Huckabee Pressed By Fiscal Conservatives,” The Associated Press, 3/14/07)

“Huckabee Increased Taxes On Sales, Gasoline, Cigarettes And Nursing Homes.” “The Club for Growth, which advocates limited government and lower taxes, has repeatedly criticized Huckabee since his formation in January of a presidential exploratory committee. It notes that as governor, Huckabee increased taxes on sales, gasoline, cigarettes and nursing homes.” (Andrew DeMillo, “Despite No-Tax Pledge, Huckabee Pressed By Fiscal Conservatives,” The Associated Press, 3/14/07)

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Sen. McCain Voted Against The Bush Tax Cuts; Candidate McCain Supports Them

“Anybody who watched my campaign should not have been astounded that I voted against the [Bush] tax cut …” – Sen. John McCain, 2001 (Kirk Victor, “McCain’s Evolution,” National Journal, 8/8/01)

 “I will not let the Democrats roll back the Bush tax cuts.” – Sen. John McCain, 2007 (Liz Sidoti, “McCain: Retool Jobs Programs,” The Associated Press, 10/10/07)

 In Tonight’s Debate, Sen. McCain Now Pledges To Make The Bush Tax Cuts Permanent:

 Tonight, McCain Called For Making The Bush Tax Cuts Permanent. “I think one of the first things we have to do that I forgot to mention is make these tax cuts permanent because we’ve got to give certainty to families and businesses all over America that these tax cuts will not expire and then give them the effect of a tax increase.” (Fox News, [Unverified Transcript], Republican Presidential Candidate Debate, Myrtle Beach, SC, 1/10/08)

 But In The Senate, McCain Voted Against The Bush Tax Cuts, Saying They Benefited The Wealthy:

 In 2001, Sen. McCain Was One Of Only Two Republicans To Vote Against The $1.35 Trillion Bush Tax Cuts. The bill lowered marginal rates, eliminated the marriage penalty, and doubled the child tax credit. (H.R. 1836, CQ Vote #170: Adopted 58-33: R 46-2; D 12-31; I 0-0, 5/26/01, McCain Voted Nay)

 ·         Sen. McCain Said The 2001 Bush Tax Cuts Benefited The Wealthy. SEN. JOHN MCCAIN: “I think there is a belief in America that too much of this tax cut still goes to wealthiest Americans. And maybe we could do something about those that still pay a significant portion of their income in payroll taxes.” (CNN’s “Late Edition,” 3/11/01)

 In 2003, Sen. McCain Was One Of Only Three Republicans To Twice Vote Against The $350 Billion Bush Tax Cuts. The comprehensive bill lowered taxes by $350 billion over 11 years – including increasing the child tax credit and eliminated the marriage penalty. (H.R. 2, CQ Vote #179: Passed 51-49: R 48-3; D 3-45; I 0-1, 5/15/03, McCain Voted Nay; H.R. 2, CQ Vote #196: Adopted 50-50: R 48-3; D 2-46; I 0-1, 5/23/03, McCain Voted Nay)

 ·         Sen. McCain Said The 2003 Bush Tax Cuts Benefited The Wealthy. MCCAIN: “I want to see tax cuts, if they are necessary, go to working Americans, not the wealthiest.” (Richard Ruelas, “McCain Isn’t Saying ‘Oui’ To Bush’s Tax Cut Plan,” The Arizona Republic, 4/25/03)

 And In 2004, Sen. McCain Said He Was Against Making All Of The Bush Tax Cuts Permanent:

 Sen. John McCain: “They Want To Make The Tax Cuts For Higher-Income People Permanent, And I Don’t Want That.” (NPR’s “Morning Edition,” 6/16/04)

 Sen. McCain Said He Would “Clearly” Not Support Extending The Tax Cuts.  NBC’s TIM RUSSERT: “Since the Civil War, every president who has been at war has increased taxes. Should the president consider postponing his tax cut?” SEN. MCCAIN: “I would have – I voted against the tax cuts because of the disproportionate amount that went to the wealthiest Americans. I would clearly support not extending those tax cuts in order to help address the deficit. But the middle-income tax credits, the families, the child tax credits, the marriage tax credits, all of those I would keep.” (NBC’s “Meet The Press,” 4/11/04)

 Sen. McCain: “I Don’t Think We Should Continue To Cut Taxes.” MCCAIN: “I don’t think we should continue to cut taxes. I like – I think every American – I’m in favor of the middle-class, middle- income tax cuts, and I would vote to make them permanent.” (Sen. John McCain, Remarks, Washington, D.C., 5/18/04)

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