Greenspan Says No to McCain Tax Cuts

[rayboyusmc]

WASHINGTON - Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain — at least not without a corresponding reduction in government spending.

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"Unless we cut spending, no," the former Federal Reserve chairman said Friday when asked about McCain's proposed tax cuts, pegged in some estimates at $3.3 trillion.

"I'm not in favor of financing tax cuts with borrowed money," Greenspan said during an interview with Bloomberg Television. "I always have tied tax cuts to spending."

McCain has said that he would offset his proposed cuts — including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families — by ending congressional pork-barrel spending,(He will never be able to do this when his own VP does it.) unnecessary government programs and overhauling entitlement programs such as Medicare and Social Security. Notice it will be the poor and middle class that get screwed with these two programs

Why not eliminate the healthcare for Senators and other politicians. They can afford their own coverage.

Greenspan: No McCain tax cuts without reduction - Yahoo! News

 

[HoleInTheVoid]

WASHINGTON - Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain — at least not without a corresponding reduction in government spending.

*cough*cough*

 

[Gunny]

Greenspan: No McCain tax cuts without reduction - Yahoo! News

So reduce government spending.

 

[HoleInTheVoid]

So reduce government spending.

Kinda walked into that one, didn't he?

 

[jreeves]

Kinda walked into that one, didn't he?

You mean we shouldn't be funding a multi-trillion dollar beaucratic healthcare system, that gives illegal immigrants the same healthcare rights as life long taxpaying Americans?

Omg....Don't you understand we must raise taxes?

 

[PubliusInfinitum]

Greenspan: No McCain tax cuts without reduction - Yahoo! News

ROFLMNAO...

Pogue you really are a waste of skin aren't you sis?

Greenspan did not say he was against tax cuts... he said he was against tax cuts without substantial cuts in spending.

Here, let me show you how thatwould look if I let you write my headlines:

"Greenspan disagrees with the pogue wannabe on increases in veteran benefits and says retired pogues should live within the contractual agreements they signed and stop begging for new handouts."

 

[Epsilon Delta]

"Unless we cut spending, no," the former Federal Reserve chairman said Friday when asked about McCain's proposed tax cuts, pegged in some estimates at $3.3 trillion.

McCain has said that he would offset his proposed cuts — including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families — by ending congressional pork-barrel spending.

Earmarks account for three trillion dollars?!?!? Wow!

 

[jreeves]

Earmarks account for three trillion dollars?!?!? Wow!

McCain has said that he would offset his proposed cuts — including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families — by ending congressional pork-barrel spending, unnecessary government programs and overhauling entitlement programs such as Medicare and Social Security

Guess you missed the rest of the bold area huh?

 

[Epsilon Delta]

Oh... Whoops!

 

[jreeves]

Oh... Whoops!

Not a problem...

 

[jreeves]

Not a problem...

Actually the 3 trillion dollar tax cuts could be funded by an overhaul of the Medicare prescription coverage, which when passed had something like 8 trillion dollars in unfunded liabilities.

 

[Toro]

So reduce government spending.

Is McCain going to?

 

[Orange_Juice]

So reduce government spending.

You haven't been paying attention lately, have you? The government has been pumping money INTO the economy just to keep it afloat. You cut government types want to kill the economy and you don't even know it

 

[Orange_Juice]

McCain has said that he would offset his proposed cuts — including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families — by ending congressional pork-barrel spending, unnecessary government programs and overhauling entitlement programs such as Medicare and Social Security

Guess you missed the rest of the bold area huh?

You Conservatives are so funny. Reagan said he would do the same thing. You guys just don't have a clue

Federal Debt: $10 trillion

 

[jreeves]

You Conservatives are so funny. Reagan said he would do the same thing. You guys just don't have a clue

Federal Debt: $10 trillion

Obama makes it no secret he would increase government spending, which would increase the deficit. While Mccain has promised to reduce government spending....

 

[editec]

That exactly what he said when asked about the tax breaks that in effect right now, that Mccain wants to make permanant.

Only back then, McCain agreed with Greenspan.

That was when McCain was onboard with the Democratic pay as you go plan for all tax breaks and new programs

Wonder why McCain changed his mind?

It made sence to me then, and it still does,

 

[PeterS]

Actually the 3 trillion dollar tax cuts could be funded by an overhaul of the Medicare prescription coverage, which when passed had something like 8 trillion dollars in unfunded liabilities.

How does he plan to fund 8 trillion by cutting 3 trillion?

 

[PeterS]

Obama makes it no secret he would increase government spending, which would increase the deficit. While Mccain has promised to reduce government spending....

How? The democrats are slated to pick up seats in both houses and with all the liberal spending conservatives you guys elect veto overrides are pretty much assured. All McCain can do is blow smoke out his ass and not much more...

 

[jreeves]

How does he plan to fund 8 trillion by cutting 3 trillion?

Let me explain it slowly for you, if you eliminate 8 trillion dollars in spending you would be able to reinvest that money with the people who drive this economy, the working class.

 

[jreeves]

How? The democrats are slated to pick up seats in both houses and with all the liberal spending conservatives you guys elect veto overrides are pretty much assured. All McCain can do is blow smoke out his ass and not much more...

I wouldn't count on that....

Battle for Congress Suddenly Looks Competitive

A potential shift in fortunes for the Republicans in Congress is seen in the latest USA Today/Gallup survey, with the Democrats now leading the Republicans by just 3 percentage points, 48% to 45%, in voters' "generic ballot" preferences for Congress. This is down from consistent double-digit Democratic leads seen on this measure over the past year