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Friday, October 24, 2008

McCain plans to redistribute wealth

Reported in todays issue of the 'PROGRESS REPORT'




MCCAIN WOULD DOUBLE DOWN: McCain claims that "in this country, we believe in spreading opportunity." But his Bush-like economic policies would only further America 's income inequality.

In fact, by extending Bush's tax cuts to the wealthy and proposing $175 billion in tax breaks to America's largest corporations, McCain's regressive economic agenda would redistribute wealth to the richest Americans during a period of stagnating wages and growing economic anxiety.

The bottom 60 percent of taxpayers would see only 12 percent of the benefit from McCain's plan to extend Bush's tax cuts, while over 100 million middle class households would receive nothing from McCain's proposal.

Moreover, even though corporate profits increased by an estimated 66 percent between 2000 and 2006, McCain's plan to slash the corporate tax rate to 25 percent from 35 percent would give even more benefits to America's richest corporations.

According to a Center for American Progress Action Fund analysis of McCain's plan, the 200 largest companies stand to gain $45 billion a year from McCain's proposal.

Highly profitable industries like energy companies and merchandising and retailing companies would receive billions from additional tax breaks.

**EDITORS NOTE:

If Palin's stand on the Environment, and wildlife wern't bad enough, McCain can't even seem to keep his lies in order. Their 'Roveing' tactics to push their agenda down our throats shows where the truth lies.

We've seen their kind of Politics enough in the last 8 miserable years under the quasi dictator bush, and we don't need, nor can we survive 4 more years of the same! Vote for anyone, but don't vote for McPalin!

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