Wonk Room » CNN Posts ‘Fact’ About McCain’s Lie That His Corporate Tax Cuts Will Create Jobs

CNN Posts ‘Fact’ About McCain’s Lie That His Corporate Tax Cuts Will Create Jobs

By Brad Johnson on Sep 26th, 2008 at 11:21 pm

CNN Posts ‘Fact’ About McCain’s Lie That His Corporate Tax Cuts Will Create Jobs

Appearing on CNN’s post-debate coverage is a graphic with the text:

FACT: McCain says he would lower business taxes in order to encourage job growth.

McCain did say during the debates, “I want to cut that business tax. I want to cut it so that businesses will remain in — in the United States of America and create jobs.”

But the real fact is this: according to the Congressional Budget Office, a corporate tax cut “does not create an incentive for [corporations] to spend more on labor” and “is not a particularly cost-effective method of stimulating business spending.” And McCain opposes eliminating the tax loopholes that encourage companies to send jobs overseas.

CNN should have indicated it was posting a “fact” about a “lie.” Is that a lact? A flie?

Comments
2

2 Responses to “CNN Posts ‘Fact’ About McCain’s Lie That His Corporate Tax Cuts Will Create Jobs”

stateofthedivision Says:

Phase two is dropping the health insurance bomb on the worker.
September 26th, 2008 at 11:30 pm
stateofthedivision Says:

Tax cuts are phase one of a two stage plan to boost corporate profits and thus, executive compensation.

The bailout supposedly restricts golden parachutes, but not the poison of executive incentive pay. Studies show CEO’s undertake riskier strategies in an attempt to swing for the fences.

McCain pours gasoline on the fire of greed. It’s time for corporations and their top management to be responsible, i.e. pay their fair share.

We will have the highest debt as a percent of GDP, in the range of Eisenhower. But our top tax rate is 1/3 of Dwight’s.
September 26th, 2008 at 11:30 pm