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What is McCain's plan to "create wealth"

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El_Tino On October 12, 2023
booyaka!





Albuquerque, New Mexico
#1New Post! Oct 27, 2008 @ 21:53:27
Someone said in another thread that McCain has a plan to "create wealth".

So, tell me what this plan is, specifically.
Lili On July 12, 2019
....................





Sunshine Land,
#2New Post! Oct 27, 2008 @ 21:56:26
Trickle Down Economics I assume? You know, make sure corporations get lots of tax breaks because in La La Land, those corporations will just start hiring more people and increasing pay and all that good stuff, instead of paying their CEO more, and going on more vacations for themselves e.g. AIG.
alexkidd On February 07, 2012
Captain Awesome!


Deleted



in a bog, Ireland
#3New Post! Oct 27, 2008 @ 22:02:55
i think its kind of that you put less tax onto the rich people and businesses and in turn it encourages them to set up business with you and therefore creates employment and the wealth trickles down throughout the economy and everyone can afford shoes.

which works to a degree, ireland has a very low corporation tax and they lowered it just for this reason, ireland was in huge trouble in the 80's,we had a work force just begging for big business to set up shop.
and it worked.

maybe with less tax less american business would outsource work to places like ireland or asia, so more work for americans.

i'm wary of complete reliance on the market to fix things however,
i think regulation is needed to a degree, that money doesn't trickle down as well as it should and gets stuck in alot of pockets on the way down, it never reaches the lowest parts and i think without proper care leads to a large gap between the wealthy and poor.
ImperatorNeroleone On December 07, 2008




Royal Palm Beach, Florida
#4New Post! Oct 27, 2008 @ 22:04:35
as all Repulicans past he will rearrange the laws to create wealth for himself and his small group of friends and associates while using morality as a sheild and telling us how we all need to tighten the belt. Republicans always do create an enormous amount of wealth FOR THEMSELVES AND THEIR LITTLE CLICK at the expense of the rest of the country.
ImperatorNeroleone On December 07, 2008




Royal Palm Beach, Florida
#5New Post! Oct 27, 2008 @ 22:07:18
It gets to the lowest parts, as the republicans don't like the homeless on the streets- so the lowest get free medical, dental, housing- it's everyone in the middle that gets screwed.
drgoofymofo On September 12, 2011




Council Bluffs, Iowa
#6New Post! Oct 27, 2008 @ 22:46:24
Last i read in the news it was to cut government spending to relieve us but I am sure there is more to it then that... I hope
Spinkiegirl On August 18, 2018




Chicago, Illinois
#7New Post! Oct 27, 2008 @ 22:53:50
@eL_TinO Said

Someone said in another thread that McCain has a plan to "create wealth".

So, tell me what this plan is, specifically.



El_Tino On October 12, 2023
booyaka!





Albuquerque, New Mexico
#8New Post! Oct 27, 2008 @ 23:08:00
@drgoofymofo Said

Last i read in the news it was to cut government spending to relieve us but I am sure there is more to it then that... I hope


Economists agree that cutting government spending will not 'create wealth'.
drgoofymofo On September 12, 2011




Council Bluffs, Iowa
#9New Post! Oct 27, 2008 @ 23:22:53
Yea, I know but Knowing McCain he might think it does.
El_Tino On October 12, 2023
booyaka!





Albuquerque, New Mexico
#10New Post! Oct 27, 2008 @ 23:24:09
@drgoofymofo Said

Yea, I know but Knowing McCain he might think it does.


Well he's said that he thinks it will. It fits in with when he said that he doesn't know much about economics.
drgoofymofo On September 12, 2011




Council Bluffs, Iowa
#11New Post! Oct 27, 2008 @ 23:43:12
From the article it seems that is his plan because he does not back the Bush Administrations plan. He is trying to separate from them in hopes to pull off a win.

After some Google-Fu:
https://projects.newsobserver.com/under_the_dome/advisors_mccain_plan_would_help_economy
Quote:
Mark Erwin said a combination of lower taxes, reduced spending and more free trade would help the economy recover.


https://ap.google.com/article/ALeqM5iE2JCSH5p9r2GBkQWS9TWAMzmuvQD9431HBG0

Quote:
Republican John McCain promised to pivot from President Bush's economic policies and impose strict controls on government spending that would spur investor confidence and the stock market's recovery. "I will protect your savings and retirement accounts and get this stock market rising again," said McCain, after huddling with economic advisers and pledging a break with Bush administration policies.
...
"We both disagree with President Bush on economic policies," McCain said. "My approach is to get spending under control. The difference between us is he thinks taxes have been too low, and I think that spending has been too high."
...
His most dramatic claim was a pledge to turn around a plunging stock market. Most of the progress he promised would come from the economic stimulus sparked by big tax cuts he's pushing, McCain said.

"I will create millions of jobs through tax cuts that spur economic growth," McCain said. The capital gains tax cut he's proposing would encourage investors, Bounds said.
...
"I will demand complete transparency into the accounts and activities at all banks and insurance companies so they cannot take on the kind of risk that brought down the financial system," said McCain. "We will have strict rules of conduct on Wall Street and if they are broken, executives will be severely punished."

While he voted for a $700 billion rescue package for the financial sector, McCain said "the government will get out of the banking business fast" if he's elected.


From what I know of economics... being only one class. I do not see this working but I could be wrong.
hairsplitter On March 04, 2009




long beach, California
#12New Post! Oct 28, 2008 @ 02:29:08
Republicans always have schemes to produce wealth, for the rich that is . So nothing new there.



"cada mente es un mundo." - "each mind is its' own world." 8)
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