Romney Campaign Press Release - Sen. McCain's Confusing Economic Rhetoric

Used To Attack Corporate Tax Cuts As Stimulus

"No one believes that if Ford Motor Co. received a $1 billion check from the federal government that they'd spend it immediately." – Sen. John McCain On Corporate Tax Cut Stimulus In 2001 (Joe Salkowski, "Stimulus Splits Area Lawmakers," [Tucson] Arizona Daily Star, 11/29/01)

Today, Sen. McCain Called For An Economic Stimulus Because The Economy "Is In Some Difficulty":

Sen. McCain, January 17, 2008: ''I Know The Economy Is In Some Difficulty ... Particularly In South Carolina.'' (Tom Raum, "McCain Proposes Economic Plan With Corporate Tax Break," The Associated Press, 1/17/08)

But, Only A Week Ago Sen. McCain Called The Economy Strong And Said It Will Remain Strong:

Sen. McCain, January 10, 2008: "And By The Way, I Don't Believe We're Headed Into A Recession. I Believe The Fundamentals Of This Economy Are Strong, And I Believe They Will Remain Strong." (Fox News, Republican Presidential Candidate Debate, Myrtle Beach, SC, 1/10/08)

Today, The McCain Campaign Says Corporate Tax Cuts Will Stimulate The Economy:

Sen. McCain New Economic Stimulus Plan Calls For Lower Corporate Income Tax Rates. "Republican presidential candidate John McCain proposed an economic stimulus plan on Thursday that would lower the corporate income tax rate and provide a host of other tax breaks for business." (Tom Raum, "McCain Proposes Economic Plan With Corporate Tax Break," The Associated Press, 1/17/08)

- Sen. McCain: ''Now Is The Time To Act To Stimulate Our Economy ..." (Tom Raum, "McCain Proposes Economic Plan With Corporate Tax Break," The Associated Press, 1/17/08)

But In The Past, Sen. McCain Has Attacked Stimulus Via Corporate Tax Cuts:

In 2001, Sen. McCain Opposed A Plan To Cut Corporate Taxes To Help Stimulate The Economy. "Southern Arizona's representatives in Congress are split on how to break a deadlock over an economic stimulus proposal called for by President Bush. ... McCain, a Republican, criticized a part of the GOP-backed House bill that would repeal the corporate alternative minimum tax and refund 15 years' worth of revenue collected from major corporations under that law." (Joe Salkowski, "Stimulus Splits Area Lawmakers," [Tucson] Arizona Daily Star, 11/29/01)

Sen. McCain Mocked Corporate Tax Relief As Stimulus: "No One Believes That If Ford Motor Co. Received A $1 Billion Check From The Federal Government That They'd Spend It Immediately." "'The House bill would give billions of dollars in tax money to big corporations' without creating much benefit for the economy, McCain said. 'No one believes that if Ford Motor Co. received a $1 billion check from the federal government that they'd spend it immediately.'" (Joe Salkowski, "Stimulus Splits Area Lawmakers," [Tucson] Arizona Daily Star, 11/29/01)

Today, The McCain Campaign Says Tax Cuts For Consumers Are Not Needed To Stimulate The Economy:

The McCain 2008 Campaign Says Tax Rebates For Consumers Are Not Needed To Stimulate The Economy. "What about putting money directly in the hands of consumers, something some economists and Democratic candidates are proposing? 'Don't go for any gimmicks like a rebate or subsidies to people. They don't need subsidies. They need lower taxes on the factors of production,' [McCain adviser Jack] Kemp says." (Alex Frangos, "Jack Kemp Previews McCain-onomics," The Wall Street Journal, 1/17/08)

But In The Past, Sen. McCain Said Lower Income Tax Rebates Were The Way To Stimulate The Economy:

Sen. McCain, 2001: "A Good Package Would Be One That Gives Relief To Low- And Middle- Income Taxpayers." "'A good package would be one that gives relief to low- and middle- income taxpayers, one that extends unemployment and health-care benefits to the unemployed and offers some tax breaks that would take effect quickly,' [Sen. McCain] said." (Joe Salkowski, "Stimulus Splits Area Lawmakers," [Tucson] Arizona Daily Star, 11/29/01)