Under “conservatives” George W. Bush and Ronald Reagan, America has run up 65 percent of our $9.6 trillion U.S. National Debt. The centerpiece of John McCain’s election platform is not raising taxes, including taxes on the wealthy. However, McCain proposes to tax employees that receive health insurance from their employers.
In order to maintain the American empire (which includes 700 military bases in 130 countries) we will have to borrow from foreign governments and add to our massive debt. The U.S. dollar has lost 40 percent of its value since President Bush took office. A weak dollar increases the price of our imports, such as oil.
Like Bush, McCain is a “free trader” who thinks that “fair” trade deals with Third World countries benefit the U.S. Never mind the loss of American jobs and the tax revenues that those jobs produce for the U.S. Treasury.
Two-thirds of U.S. corporations pay no income tax. McCain proposes lowering corporate tax rates but he wouldn’t close the offshore loopholes for U.S. corporations. Halliburton has recently moved its corporate headquarters to Dubai to avoid U.S. taxes. No wonder the U.S. is running huge budget deficits. Maybe McCain will cut Medicare, Social Security, and Medicaid to balance his budget. McCain, like Bush, wants to “privatize” Social Security. Can anyone guess how long it will take for Wall Street to steal the money?
We are now experiencing the highest inflation in 27 years. McCain promises to not raise taxes but this unwise deficit spending has proven to be a back door tax in the form of inflation, a weak U.S. dollar, and a huge debt left to our children.
Stephen Reid
DeKalb
Both G.W. Bush and McCain are bottom-feeders, feeding on the life-blood of the majority of Americans, and cheered on by the GOP.
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