wonkroom.thinkprogress.org - 10/14/2008
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wonkroom.thinkprogress.org —
Today, Sen. John McCain (R-AZ) gave a speech
in Pennsylvania outlining his new economic proposals - The...
Pension and Family Security Plan . One of the new provisions included in the plan is temporarily lowering taxes on withdrawals from IRA’s ...
(more)
McCain’s Plan To ‘Avoid An Exodus Of Capital’ Encourages ...
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McCain’s Plan To ‘Avoid An Exodus Of Capital’ Encourages An Exodus Of Capital
Wonk Room —
Today, Sen. John McCain (R-AZ) gave a speech in Pennsylvania outlining his new economic proposals - The Pension and Family Security Plan. One of the new provisions included in the plan is temporarily lowering taxes on withdrawals from IRA’s and 401(k)s:
John McCain Proposes That Withdrawals From Tax-Preferred Accounts - IRAs And 401(k)s - Should Be Taxed At The Lowest Rate - 10 Percent - In 2008 And 2009. This policy will apply to the first $50,000 withdrawn from these accounts each year and will affect the accounts of nearly nine million Americans over the age of 60, permitting ...
McCain’s new economic proposal would cause ‘exodus of capital’ to the wealthiest Americans.
Think Progress —
Today, Sen. John McCain (R-AZ) gave a speech in Pennsylvania outlining his new economic proposal. Included in the plan is a provision temporarily lowering taxes on withdrawals from IRA’s and 401(k)s. During the speech, McCain touted this new provision, while saying that “it is essential we avoid an exodus of capital from the market.” Watch it:
But McCain doesn’t seem to understand that his proposal actively encourages the “exodus of capital” he is warning against. The Wonk Room’s Pat Garofalo ...
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