John McCain Has a Tax Plan To Create Jobs
The Bear on Sep 03 2008 at 8:22 am | Filed under: Election 08’, Taxes
John McCain’s tax policies are designed to create jobs, increase wages and allow all Americans — especially those in the hard-pressed middle class — to keep more of what they earn. His plan achieves these goals in three important ways.
First, he proposes a package of tax incentives that will create jobs and raise earnings by inducing firms to invest more in the U.S. Second, he is strongly committed to blocking any increase in tax rates while doubling the personal exemptions for families with children, which will reduce the tax burden on working Americans. Third, he proposes a new, refundable tax credit that will increase health-care coverage, reduce the cost of health care, and provide more funds for families and individuals to purchase health care.
Here’s how the three components of Sen. McCain’s tax plan will work in practice.
Read more from Wall Street Journal
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For Democrats, it’s tax and spend, redistributing the wealth in a myriad of ways. For Republicans, though, it always seems to be about creating jobs or cutting taxes.
I have problems with both of these for the following reasons.
First, cutting taxes seems good, except that they only cut taxes on the poor. Now, don’t get me wrong, I’m poor, just barely out of the bracket (or barely in the bracket, from year to year we don’t know) that gets the Earned Income, and that’s married with two kids. I’m proud to finally be paying taxes, though I’m not sure I am tax positive yet, if I am, it’s just barely.
Those who get checks or pay little into the system have little incentive to vote against giving themselves a check, even if it’s only a ‘chance’ at a check, they’re okay with that, besides, they won’t pay any tax anyway, the rich guys will pay it.
Bad news. You’re paying it, alright. One, you pay the taxes on gas when you buy it. Two, you’re paying a premium on it right now because of Congress’ (and don’t think for a moment that they’re all louts, they’re sitting on their hands because this is what they want…they worked hard to make it this way) do-nothing ways.
But the worst part about the taxes is that they are actually attacking the middle class. You see, if you take the SUPER wealthy, the ones who control the strings, THEY are actually the rich…..and they get the little guys (what we refer to as the middle class and slightly higher, the politicians at the lower levels) to pass laws to attack the ones we call the rich, who are really the middle class. This works in two ways. They get their laws, and the politicians get to make a reputation “sticking it to the rich” or “sticking it to big business”. But, honestly, who is Big Business, in the end, but us? We own shares, we work there, and when you tax them, they simply take it from their employees and their customers and their shareholders, which is us. They have to, there’s nowhere else for it to come from. The concept is to redefine our middle class into being rich so we can tax an ever lower real income level until we tax everyone and get nothing.
Then, there’s jobs. When did it become my responsibility to hire my neighbor to sit around the house doing nothing? There is a logical life-cycle to a product, and the job is a by-product of the product. To hire for the sake of employing is to put the cart before the horse. The government would do better spending the money outright on capital goods, such as stockpiles of weapons and foods, in case of invasion or emergency. To interfere with the normal lifecycle of business is to retard the economy, only to have the repression show itself later in some ugly form twice as bad as what was repressed.
If you hire buggy whip makers, you’ll have an excess of whips, if there’s no demand. To create a false job is to also create a false economy that depends on that job, so that when that job is gone, as it should have been, you won’t just hurt one, you’ll hurt the whole chain. But when the chain gets hurt naturally, because of the ending of the lifecycle, while sometimes it’s sudden (like a mine playing out or a factory closing), quite often, enough of a life has sprung up that it continues to live, if not propped up falsely.
It is NOT the responsibility of the President, nor the House or Senate, nor any of the many governors, mayors, city councilmen, economic development committee members, to find me a job, but simply to make sure they deal fairly, and there’s a place for redress if they don’t.