Capital Commerce

McCain's Iffy Tax Pledge

By James Pethokoukis

Posted: February 19, 2008

John McCain is now on record as being against tax increases (via CNSNews):

"So on taxes, are you a 'read my lips' candidate, no new taxes, no matter what?" host George Stephanopoulos asked the Arizona Republican on ABC's This Week. "No new taxes," McCain affirmed, before making an argument that taxes ought to be cut if the economy deteriorates. "But under circumstances would you increase taxes?" Stephanopoulos asked in a follow-up question. "No," said McCain.

I only wish my fellow Greek journalist had asked McCain whether he is talking just about income taxes or also about Social Security taxes. McCain has spoken favorably in the past about the 1983 Greenspan commission, which endorsed higher payroll taxes. Plus, his idea to cap and trade emissions is tantamount to a tax increase.

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Capital Commerce

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U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

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