We've railed against John McCain's fiscally irresponsible and regressive tax plan a few times since he released the details back in the spring. Now, Illinois' senior senator is getting in on the action.
Working with the Center for American Progress Action Fund, Sen. Dick Durbin, along with Sens. Bob Casey (D-PA) and Amy Klobuchar (D-MN), unveiled a new report today that analyzes a number of McCain’s tax proposals and shows how his plan would double President Bush’s tax cuts by proposing an additional $175 billion in annual tax reductions and corporate tax breaks:
"Senator McCain's tax plan is George Bush's fiscal policy on steroids; it makes an already grim economic situation worse. It does almost nothing to improve conditions for the middle class and focuses on improving the fortunes of the most profitable corporations in the country," said Senator Durbin.
According to a press release outlining the study, McCain’s policies would leave a national debt of $12.7 trillion by the end of a two-term presidency totaling a massive 59 percent of the projected GDP in 2017, the highest level of debt since 1951.
That, my friends, is not change we can believe in.
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