Comments on: McCain Wavers on Taxes

By: TomFromMD

TomFromMD — Wed, 30 Jul 2008 18:13:43 +0000

From the SS point of view, there’s nothing wrong with that note, bananas withstanding. The problem (so far as it exists) is the effect on that debt on the dollar and the future taxpayer; i.e. we’re creating a debt for ourselves. But there’s no difference between that debt and any other that the government contracts – it’s no worse than selling bonds. So the real problem (from the viewpoint of the government and future taxpayer) is the amount of debt that we’re accruing. And here, there is a solution: if the taxes go to pay off existing debt, or to offset new obligations that we were going to take anyway, we keep the demands on the future taxpayer from being any worse. The only tricky part is to keep the pigs in Washington from seeing it as a new trough.

By: Donklephant » Blog Archive » WSJ Editorial Board Slams McCain On Taxes

Donklephant » Blog Archive » WSJ Editorial Board Slams McCain On Taxes — Wed, 30 Jul 2008 14:42:11 +0000

[...] Alan posted yesterday about McCain wavering on his tax policy, I wondered how long it would take for the fiscal [...]

By: kranky kritter

kranky kritter — Wed, 30 Jul 2008 13:29:15 +0000

I’m of two minds on this. Agreed that this shows a lack of savvy regarding tactical maneuvers, tax increases being a GOP 3rd rail, but it actually encourgaes me that McCain would attempt, even clumsily, to acknowledge that the nature of the impending SS funding gap is that it will be too vast to bridge via tweaking.

However, any candidate who suggests that increased payroll taxes NOW make sense for a gap that won’t arrive for another, what 7 to 10 years, better be ready to explain to me how that surplus will actually be set aside for its alleged use. And I’m not talking about a “trust fund” which amounts to no more than a note to the government that says “Uncle sam owes SSA 15 gazillon bananas.”