BREAKING NEWS: McCain admits it's not socialism

[DavidS]

This just broke over the wires. McCain was doing a town hall recently and was asked if the middle class were given tax cuts and the upper class were given tax increases, would that be socialism. He said no.

I've got a video of it right here. For some reason, he looks a lot younger.

[youtube]X2JPbQOHEkY&feature=related[/youtube]

 

[RetiredGySgt]

Is this like your claim McCain ask for 300 billion more than the 750 billion?

 

[Silence]

This just broke over the wires. McCain was doing a town hall recently and was asked if the middle class were given tax cuts and the upper class were given tax increases, would that be socialism. He said no.

I've got a video of it right here. For some reason, he looks a lot younger.

[youtube]X2JPbQOHEkY&feature=related[/youtube]

wait... he sounds like Obama right there! where is THIS John McCain?

Is this like your claim McCain ask for 300 billion more than the 750 billion?

Show us where he's indicated that the 300 billion he's suggesting to buy up those bad mortgages would come out of the $750 billion already approved.

 

[AVG-JOE]

That guy in the video is McCain 2000. If the republican party hadn't gotten their handlers all over the guy, we'd actually have a choice... at least on tax issues.

I'll bet that guy would support Obama over McCain 2008...

-Joe

 

[RetiredGySgt]

wait... he sounds like Obama right there! where is THIS John McCain?



Show us where he's indicated that the 300 billion he's suggesting to buy up those bad mortgages would come out of the $750 billion already approved.

Already done in another thread as DavidS knows full well, but hey give me a sec and I will quote McCains own words for you.

 

[RetiredGySgt]

From the thread "Just the Facts"

Political Affairs Magazine - Presidential Debate Fact Check: McCain's Big Bank Bailout

John McCain said, "we have allocated $750 billion. Let's take 300 of that billion [sic] and go in and buy those home loan mortgages and negotiate with those people in their homes, 11 million homes or more, so that they can afford to pay the mortgage, stay in their home."

 

[Ravi]

The government buying up bad mortgages is socialism, people.

 

[RetiredGySgt]

The government buying up bad mortgages is socialism, people.

So since Obama supports the bail out you admit he is for socialism, thanks.

 

[DavidS]

wait... he sounds like Obama right there! where is THIS John McCain?



Show us where he's indicated that the 300 billion he's suggesting to buy up those bad mortgages would come out of the $750 billion already approved.

Final debate. He said:

"Now, we have allocated $750 billion. Let's take 300 of that billion and go in and buy those home loan mortgages and negotiate with those people in their homes, 11 million homes or more, so that they can afford to pay the mortgage, stay in their home."

This is different then what he said during his second debate.

As president of the United States, Alan, I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes -- at the diminished value of those homes and let people be able to make those -- be able to make those payments and stay in their homes.

The problem with that is that, in all, the United States has $11 trillion worth of mortgages right now and 10% of them are in serious trouble. That's $1.1 trillion. Not even the entire $750 billion bailout bill could help us with that. John McCain's plan is too risky because we could wind up owing a lot more than $300 billion and it takes money away from banks. The $750 billion should be used to buy up the bad debt banks have.

Obama's plan, though, deals with the banks and says to the bank, "Ok, this customer owes you $500,000 and he's going to default on his mortgage. Instead of losing $500,000, re-negotiate with the customer and we'll guarantee the loan. We'll pay the difference between the new and the old mortgage."

Listen, I like Obama, but this plan, this plan is really great and it's a lot smarter than McCain's.

 

[DavidS]

That guy in the video is McCain 2000. If the republican party hadn't gotten their handlers all over the guy, we'd actually have a choice... at least on tax issues.

I'll bet that guy would support Obama over McCain 2008...

-Joe

I would vote for McCain 2000 in a heartbeat. McCain 2000 would turn California and New York red. McCain of 2008 turns Georgia blue.

 

[RetiredGySgt]

Final debate. He said:



This is different then what he said during his second debate.



The problem with that is that, in all, the United States has $11 trillion worth of mortgages right now and 10% of them are in serious trouble. That's $1.1 trillion. Not even the entire $750 billion bailout bill could help us with that. John McCain's plan is too risky because we could wind up owing a lot more than $300 billion and it takes money away from banks. The $750 billion should be used to buy up the bad debt banks have.

Obama's plan, though, deals with the banks and says to the bank, "Ok, this customer owes you $500,000 and he's going to default on his mortgage. Instead of losing $500,000, re-negotiate with the customer and we'll guarantee the loan. We'll pay the difference between the new and the old mortgage."

Listen, I like Obama, but this plan, this plan is really great and it's a lot smarter than McCain's.

What an ignorant claim. IF the Government buys up the mortgages they are PAYING the banks, It takes no money from them at all. In fact it DIRECTLY gives the money to the Bank faster or more surely then any other plan short of just blank checking the banks.

Now remind us how the 300 is in addition to the 750? That was your claim. We are not arguing whether 300 is enough or not we are discussing where the 300 he claims he will use comes from.

You STATED it would be in ADDITION to the 750. In fact you called me ignorant for telling you he wanted to use part of the 750. Now your trying to deflect from your mistake by making other claims.

Just admit you are wrong and we will move on.

 

[jillian]

That guy in the video is McCain 2000. If the republican party hadn't gotten their handlers all over the guy, we'd actually have a choice... at least on tax issues.

I'll bet that guy would support Obama over McCain 2008...

-Joe

I bet you're right.

Or maybe McCain isn't either the good guy he was in 2000, or the angry extremist he is now. I figure he just wanted to be president.

And, I'll go a step further. I think he could still win. I think he could have won big except for picking Palin. But Karl Rove, his "unofficial advisor" told him "it's the base, stupid".

Oops.

 

[DavidS]

What an ignorant claim. IF the Government buys up the mortgages they are PAYING the banks, It takes no money from them at all. In fact it DIRECTLY gives the money to the Bank faster or more surely then any other plan short of just blank checking the banks.

Now remind us how the 300 is in addition to the 750? That was your claim. We are not arguing whether 300 is enough or not we are discussing where the 300 he claims he will use comes from.

You STATED it would be in ADDITION to the 750. In fact you called me ignorant for telling you he wanted to use part of the 750. Now your trying to deflect from your mistake by making other claims.

Just admit you are wrong and we will move on.

You can move on as much as you'd like, however; McCain changed his tune from the second to the third debate. The second debate he said this was additional money. The third he said it was part of the $750 billion.

 

[Care4all]

too bad mccain didn't show leadership and INSIST that the $300 billion bailout for the home owners did come out of the 700 billion BEFORE they voted on giving all of it to Paulson, as many Dems and other repubs were doing. They've already distributed $250 billion of the money already....

and yes, this was the mccain of 2000, and 2001 when he voted no on the Bush tax cuts that favored the wealthiest.... i miss the mccain of 2000, but the republicans hated him back then and thruout the Bush presidency, especially the few times he went against President bush...

Boy, that girl in the video asking the question was a real sour puss to say the least...guess her parents taught her that...she seemed too young to come to her conclusions on her own.... true hatred was showing thru imo....and i feel sorry for her...

care

 

[RetiredGySgt]

You can move on as much as you'd like, however; McCain changed his tune from the second to the third debate. The second debate he said this was additional money. The third he said it was part of the $750 billion.

No he did not, PROVIDE a link, You have been ask before and failed to do so. I have provided 3 links in the other thread and repeated one here. It is his OWN words. You are wrong and can not handle the fact you are wrong. You have made a claim, prove it. I proved MY claim.

 

[AVG-JOE]

The government buying up bad mortgages is socialism, people.

If this is the case, we went 'socialist' in the 1930's.

-Joe

 

[RetiredGySgt]

too bad mccain didn't show leadership and INSIST that the $300 billion bailout for the home owners did come out of the 700 billion BEFORE they voted on giving all of it to Paulson, as many Dems and other repubs were doing. They've already distributed $250 billion of the money already....

and yes, this was the mccain of 2000, and 2001 when he voted no on the Bush tax cuts that favored the wealthiest.... i miss the mccain of 2000, but the republicans hated him back then and thruout the Bush presidency, especially the few times he went against President bush...

Boy, that girl in the video asking the question was a real sour puss to say the least...guess her parents taught her that...she seemed too young to come to her conclusions on her own.... true hatred was showing thru imo....and i feel sorry for her...

care

Ya cause pointing out it is unfair to take more from one person then another is so evil.

 

[jillian]

Ya cause pointing out it is unfair to take more from one person then another is so evil.

Except that our tax system has always been regressive. So all this noise is just that.... noise.

I don't think anyone who's whining did so badly under Clinton.

 

[DavidS]

No he did not, PROVIDE a link, You have been ask before and failed to do so. I have provided 3 links in the other thread and repeated one here. It is his OWN words. You are wrong and can not handle the fact you are wrong. You have made a claim, prove it. I proved MY claim.

Fair enough.

Transcript of second McCain, Obama debate - CNN.com

You know that home values of retirees continues to decline and people are no longer able to afford their mortgage payments. As president of the United States, Alan, I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes -- at the diminished value of those homes and let people be able to make those -- be able to make those payments and stay in their homes.

Is it expensive? Yes. But we all know, my friends, until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy. And we've got to give some trust and confidence back to America.

I know how the do that, my friends. And it's my proposal, it's not Sen. Obama's proposal, it's not President Bush's proposal. But I know how to get America working again, restore our economy and take care of working Americans. Thank you.

This debate was held a few days AFTER Bush signed the bailout bill into law. This implies that this is a new bill that is going to take additional money.

 

[Care4all]

Ya cause pointing out it is unfair to take more from one person then another is so evil.

no, it is not evil...it has never been evil, it has been progressive in structure from the very beginning, as it should have been....

you can't bleed the middle class in to poverty, as much AS YOU WOULD LIKE TO DO....though president Bush has tried and is making progress with his and the republicans goal of bleeding the middle class... he hasn't taken their lives away YET...and if obama wins, the republicans won't get to finish the job Bush started, thank God!