donate
Subscribe now and save 68%
Receive a full year of the print and digital versions of The Progressive for only $14.97.





Here's my roundup of activists on the transition--
Joseph Stiglitz's progressive econ fix
Carl Davidson: Obama and the Left
Populist Chic: What the rise of Sarah Palin and populism means for the conservative intellectual tradition.
Howard Zinn wants you to help The Progressive

McCain Betrays Himself By Defining Rich at $5 million

By Matthew Rothschild, August 18, 2008

I don’t know why a pastor was allowed to hold the first forum with the Presidential candidates—in a church, no less—but there was a revealing exchange between Rick Warren and John McCain Saturday night.

Warren said, “Everybody talks about, you know, taxing the rich, but not the poor, the middle class. At what point, give me a number, give me a specific number. Where do you move from middle class to rich?”

As far as income goes, McCain said, “How about $5 million?”

And then he tired to fob it off, saying, “no, seriously.”

But it’s really not a laughing matter.

This is either how out of it John McCain is, or how much he wants to obscure the class cleavages in this country.

The top 1% of Americans, which by any definition, should be viewed as the rich or the upper class, make $450,000 or above.

Only 0.3 percent of Americans make more than $1 million a year.

Only a tiny fraction of that tiny fraction makes $5 million.

Maybe McCain wants to camouflage this because his own tax proposals, like Bush’s, favor the richest of the rich.

Under McCain’s plan, those making more than $1 million would get an extra $195,000 next year, according to the Tax Policy Center. And the top 0.1 percent of Americans would get an extra $290,000.

Obama, to his credit, said, “If you are making more than $250,000, then you are in the top 3, 4 percent in the county.”

And Obama’s tax policies would raise the rates on McCain’s cherished 0.1 percent by $700,000 in 2009. Also by contrast, Obama would give more of a tax break to everyone in the lower 80 percent of income brackets than would McCain.

But McCain, as most Republicans do, likes to pretend we don’t live in a class society.

Or maybe he’s just been hanging around his wife too long.

   

Support articles like this by making a tax-deductible donation to The Progressive. We are a non-profit, both legally and literally, and every dollar counts.

SHOW YOUR SUPPORT: Share this article
AddThis Feed Button View our community page at Disqus.com
READER COMMENTS

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Allowed HTML tags: <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd><embed><object>
  • You may post PHP code. You should include <?php ?> tags.
  • Lines and paragraphs break automatically.
  • Web page addresses and e-mail addresses turn into links automatically.

More information about formatting options

November 20, 1969 78 Native Americans seize Alcatraz Island, demanding it be made into a cultural center
Order your Hidden History calendar for ONLY $12.95!
Advertisement
ToppleBush