Wonk Room » John McCain: Corporations First

John McCain: Corporations First

By Ben Furnas on Jun 27th, 2008 at 5:20 pm

John McCain: Corporations First

McCain’s new ad touting his deeply flawed energy strategy contains (yet another) new campaign slogan as well: “Country First.”

Watch the ad:

Unfortunately for our country, however, John McCain’s economic plan puts corporations first.

The central plank of his economic plan is a $175 billion corporate tax cut that would slash taxes for the Fortune 200 corporations by $45 billion every year. That includes $6.5 billion for Fortune 200 energy companies, $6.3 billion for Fortune 200 banks and financial institutions, and $5.6 billion for Fortune 200 merchandising and retailing companies.

The overwhelming benefits of this tax cut, approximately 59%, would flow to the top 1% of income earners.

The same $45 billion that John McCain sets aside for the Fortune 200 could be used to lift 9 million American families out of poverty.

So…who exactly is John McCain putting first?