Right to McCain: Your New Economic Plan Stinks

Reader Comments
Back to blog

John McCain is too old,too angry,and temperamentally unsuited to be POTUS. His cynical choice of Palin is illustrative. He did not use the first criteria to select a VP,i.e.the ability to assume the Presidency should he die,he made a blatantly political choice to swing women and the Right to himself. It is insulting to Americans that he thinks we can't see through this. He is so greedy to be President I think he is doing and saying anything to get elected,he should be embarrassed. He is using Rovean tactics,smearing Obama (as McCain was smeared by Rove,ironically enough)because I think the lesson he learned from Rove is--DO ANYTHING TO WIN! Rove has harmed the American political process so much and McCain has joined The Dark Side.

Chris Barry of NJ 3:53PM October 25, 2008

See John run.
Run, John, run!
John likes to paint.
Paint, John, paint!
Paint the floor!
Paint the window!
Paint the ceiling!
Paint! paint! paint!
See John now.
John painted himself into a corner.
See John squirm.
Squirm, John, squirm!
No way out for John.
Lose, John, lose!
Lose! lose! lose!

notKeith of MN 1:33PM October 15, 2008

I'm writing because I've tried to look at this election through impartial lenses. I've been trying to evaluate the information that I learned about McCain, and have based my vote on what I've been able to substantiate. I understand the media can be biased, so I am a student of both liberal and conservative reporting.
However, I'm troubled by John McCain's "reported" military service record. It is reported that in addition to marginal grades, he drew so many demerits, he graduated 5th from the bottom of his class. There were questions as to whether or not he should have been allowed to graduate. According to reports, three crashes led Navy officials to question fault or his judgement. During his second crash, he was to have alledged to have been flying too low. Fellow vets referred to him as a one who took risks. Clearly he had priveledge status in the Navy. A confidential review was held to determine whether or not he was fit to fly. Details are still confidential. I'm just sharing what I have learned from other sources. He was captured during the fifth crash.
According to U.S. News and World Report, May 14, 1973, McCain agreed to give up military information in order to be taken to the hospital. According to McCain, volunteered up his ships name, his target and squadron number. (See McCain's book, Faith of My Fathers). Reportedly after McCain offered up that his father was an Admiral hew was taken to a hospital and received preferential treatment. When he was finally released from his captors, he was awarded several medals for roughly 20 hours in combat.
After he returned home he became Squadron Commander, given the responsibility to train pilots and violated military codes relating to engaging in extra-marital affairs, but was never punished. Regarding his failed marriage, he stated, "My greatest moral failing - and I have been a very imperfect person - is the failure of my first marriage. It's my greatest moral failure." He obtained a marriage license to marry his second wife one month after his divorce became final. He married Cindy and went to work for his father-in-law in Phoenix.
Some of the things I do take issue with are:
-he voted against equal pay for women; recently recommended suspending capital gains taxes
-missed 10 of the past 14 votes on Iraq in 2007
voted against calling for adequate troop rest between deployments;
-in March and April,2006 respectively voted no to provide $20m to Veterans Affairs for healthcare
-urged other Senate members to table a vote to provide a equipment in Iraq to National Guard Reservists;
-was reprimanded for consorting w/Charles Keating during the S&L scandal
-AND has chosen as his running mate a person who used her political powerfor personal gain.
- cursed during a debate w/Obama
-YouTube has an ugly episode of him cursing a reporter
In my opinion, McCain has had America and even his closest and friends fooled. Is this the man we want for President?

Roz Donald of TN 1:04PM October 15, 2008

I thought you paid capital gains on the earning in a 401k. If that is the case then it would be helpful. There are people who need to draw from their 401k who have been contributing for many years and their capital gains is still at a gain not a loss.

Miley of TN 4:30AM October 15, 2008

McCain did say early in his campgain that he would have an honorable campgain without all the typical mudslinging. However, all that changed when the Obama campgain and supporters started attacking McCain and Palin. It has been proven that Obama has spent more money on negative campgains attacking McCain than McCain spent all together!

Heather of GA 4:21AM October 15, 2008

The wonderful, retired Colonel evidently isn't able to think straight these days. His attack on McCain is lame and he is attaching attributes to Obama that are straight out lies.

sometime reader of NC 10:45PM October 14, 2008

Americans are faced with picking up a turd up from the clean end in this election.

SimonSez of CA 10:33PM October 14, 2008

You are right that it is taxed as regular income and not capital gains. I believe the tax rate for tax deferred savings is currently at 25%. McCain wants to cut that tax rate to 10%, permanently. He also wants to allow people at 70 1/2 to keep their money in such plans. As it stands, the law says people at 70 1/2 must sell their stock even if they are employed.
I think, though, you can claim a capital loss deduction though on your taxes, though, if you lost overall in your tax deferred accounts. That I am not positive on, though. You would have to check with a CPA or tax attorney. [My background is really limited to securities law.] McCain's plan expands the capital loss deduction from 3K to 15K for the year 2008-2009.
Obama, on the other hand, only wants to give a temporary suspension of tax penalties for early withdrawal through 2009. This enables people to liquidate stocks during market crisis. [The last thing we need right now. We need investor confidence to stabilize this market crisis.] Seems extremely dangerous to me.
Obviously this entire fiscal crisis is troubling. I was really disappointed with McCain's economic policy until this new plan. You can find the text of his speech delineating it in its entirety on the NY Times and Washington Post's websites.

TMQ of VA 10:15PM October 14, 2008

McCain's capital gains proposal does not help a hurting 401k or traditional IRA investor. It only helps those that hold stocks outside of a 401k or traditional IRA.
I am sure someone will correct me if I am wrong but when you take money out of a 401k or a traditional IRA it is taxed as normal income not capital gains is it not? This is because income you used to fund the IRA or 401k has the income taxed deferred until you withdraw it.
So the McCain capital gains proposal does not reduce anyone's taxes when withdrawing from an traditional IRA or 401k as far as I can tell.
http://en.wikipedia.org/wiki/401%28k%29_IRA_matrix

thoughtful of OR 8:48PM October 14, 2008

I am infuriated that anyone has the gall to write such an article that sounds excactly like the rhetoric froom the Democratic Party. Matter of fact, that must be where it was formulated. I am also fed up with those who had so few choices for a Democratic candidate they had to select Obama, a terrorist associate of the Acorn organization.
Obama's campaign committee has so little to work with in their empty suited wanna be President, bad mouthing McCain is must be all they have to work with.
Listing me as an Obama supporter would be as stupid as any of your other statements.

Wilbur Barnes of WA 6:49PM October 14, 2008