I don’t think John McCain subscribes to the belief that: “A deficit today means a tax tomorrow.”
WASHINGTON – Republican John McCain said Sunday that cutting taxes and stimulating the economy are more important than balancing the budget, and accused both Hillary Rodham Clinton and Barack Obama of supporting tax hikes that would worsen the impact of a recession.
“The goal right now is to get the economy going again,” the GOP presidential nominee-in-waiting said on ABC’s “This Week,” adding that he would put the country “on a path to a balanced budget” by attacking wasteful spending.
What John McCain asks for is not a tax cut, it is a deferred tax. As far as he’s concerned, he won’t need to pay the tax man today (but his kids/grandkids surely will).
The thing I don’t think John McCain or our Congress quite understands is that they are pushing 96% taxes someday in the future to pay for the war they refuse to pay for today. In the end, someone needs to pay for war spending, in addition to all the regular stuff the government spends on domestically. I’d rather we all pay our fair share today through taxes (yes, even increased taxes) than it be forced on my generation later on. If that’s the case, I’d rather the U.S. Government default on its debt obligations today rather than force the younger generations to do so later.
Note: I’m not against trimming or cutting programs, I just think a balanced budget is required before tax cuts can be implemented. The first place I’d cut is Congressional pay. The second is the war in Iraq. What a boondoggle!