From Deseret News archives:

McCain plan would zap taxes, back all savings

Published: Wednesday, Oct. 15, 2008 12:06 a.m. MDT
 |  E-MAIL | PRINT | FONT + - 
BLUE BELL, Pa. (AP) — John McCain, echoing both Barack Obama and Republican orthodoxy, proposed a $52.5 billion economic plan Tuesday that would eliminate taxes on unemployment benefits and cut the capital gains tax. He warned voters about taking a chance on his Democratic rival.

"Perhaps never before in history have the American people been asked to risk so much based on so little," McCain said of his opponent during a speech at a community college in this Philadelphia suburb.

McCain also promised that as president he would order the Treasury Department to guarantee 100 percent of all savings for six months. Such a guarantee, above the $250,000 now in force, would ease consumer fears of bank failures and restore "rational judgment to the choices of the market," he said.

The Republican standard-bearer wasn't breaking new ground with the unemployment and capitol gains proposals. He was a day behind Obama in suggesting that taxes on jobless benefits be suspended, and Obama also proposed extending the duration of those benefits. And Republicans for years have offered proposals to reduce the tax on capital gains from investments.

Comments

You can be the first to comment on this story.

Related content
previousnext

Latest comments

At least one Utah team can beat an opponent from LA and win a league title.

The Fed is nothing more than a self-derving group of bankers who took an...

World has ample oil supplies

All we need to do is round up the dinosaurs and subject them to confined...

Tcu is hands down the beat team in the nation. I pray everday that they go to...

Hey Matt, FYI.. The Utah Stars won the ABA Championship the first year of...

Champions with a losing record. See, the Jazz still have a chance.

HOW BOUT REAL!!!!!! 1ST MAJOR SPORTS TITLE FOR THE STATE OF UTAH!!!!

I love how people are telling me that this is the equivalent of the Superbowl...

Congratulations to BYU on a solid win. I thought they played very well on...

RSL, Galaxy headed to overtime

IN SHOOT OUT !!

Advertisements