Comments on: McCain: Advisers’ Companies Had ‘No Evasions Or Escapes’ From Their Taxes http://wonkroom.thinkprogress.org/2008/10/23/mccain-advisers-companies-had-no-evasions-or-escapes-from-their-taxes/ Thu, 26 Nov 2009 16:42:01 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: AverageTodd http://wonkroom.thinkprogress.org/2008/10/23/mccain-advisers-companies-had-no-evasions-or-escapes-from-their-taxes/comment-page-1/#comment-2714 AverageTodd Thu, 23 Oct 2008 21:36:57 +0000 http://wonkroom.thinkprogress.org/2008/10/23/mccain-advisers-companies-had-no-evasions-or-escapes-from-their-taxes/#comment-2714 "We tried a windfall profit tax, back during the days of Jimmy Carter, okay. We tried it and it didn't work." It didn't? How so? And why? How about "trickle down economics." Haven't we tried that before too? How'd it work? McCain seems to have difficulty understanding the difference between theory and practice. He shows this every time he makes the leap from corporate tax savings to job growth in America. And it is a drastic oversimplification to call our corporate tax rate 35%. It is not the whole story, Mr. McCain. He tends this clip saying, "It is simple, fundamental economics." If i had made these types of arguments in my ECON classes in college, I would have failed. Miserably. “We tried a windfall profit tax, back during the days of Jimmy Carter, okay. We tried it and it didn’t work.” It didn’t? How so? And why?

How about “trickle down economics.” Haven’t we tried that before too? How’d it work?

McCain seems to have difficulty understanding the difference between theory and practice. He shows this every time he makes the leap from corporate tax savings to job growth in America. And it is a drastic oversimplification to call our corporate tax rate 35%. It is not the whole story, Mr. McCain. He tends this clip saying, “It is simple, fundamental economics.” If i had made these types of arguments in my ECON classes in college, I would have failed. Miserably.

]]>