McCain's $3.3 Trillion Tax Cut, Budget Pledge at Odds

April 18 (Bloomberg) -- John McCain's plan to cut taxes and balance the budget wins praise from fellow Republicans. Economists and nonpartisan analysts say his numbers don't add up.

McCain's proposal, outlined April 15, would extend President George W. Bush's tax cuts, reduce the top corporate rate, repeal the alternative minimum tax and double exemptions for dependents. Price: $3.3 trillion by the end of a President McCain's second term in 2017, according to figures from his campaign and the Treasury.

The Arizona senator said that would be offset by eliminating pork-barrel spending, freezing a portion of the budget, and saving from Medicare spending. He could cut the budget by $100 billion a year ``in a New York minute,'' he said in a Bloomberg Television interview yesterday.

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With all of our military and senseless government spending I dont see how in the hell would his magic math would work. Well Senator McCain wont be in any position to make this decision.

Could perhaps provide some analysis to support contention that McCain's proposal is "magic math?"

You might also touch upon the data that support your supposition that McCain will not be in a position to make such a decision, beyond the fact that whatever he proposes relative to the budget will have to pass Congress first.

I would be curious to see how he manages to cut the taxes by 3.3trillion, yet only reduce the budget by 100 billion.... That is a lot of pork barrel spending, if that is where all of the money is supposed to come from.

Since the last great tax cut, this country has seen hyperinflation of the commodity and housing markets, reduced working hours, illegals pouring over the border in order to reduce wages, bridges crumble, foreign manufactures eating us alive, and we get nickel and dimed at the state and local levels in the form of fees and ridiculous fines.

I use to have little faith in the concept of reaganomics, mostly because I am middle class, but I now despise any politician that even hints at proposing tax cuts before balancing the budget. There is a huge ass list that needs to be accomplished before any idiot in this country can begin thinking about tax cuts.