McCain's Orwelling Games By: Mark W Adams

So John McCain thinks he can undermine Obama's populist credentials by saying he's Robin Hood, and Barack is the evil Sheriff because he won't go along with a gimmick like a gas tax holiday.

Let's be clear. As long as McCain is in the race the late night comedy show writers could have stayed on strike -- because Johnny "Ace" McCain Is. A. Joke.

I got a heads up in the comments at Digby’s place
where the suggestion is to confiscate a bit of the oil companies’
revenue to offset McCain gutting a tax used to keep bridges from
collapsing, that Ezra Klein has this great chart showing the breakdown of what people receive in capital gains each year by income group. You know, eliminate the subsidies for drilling in public land, maybe look at a windfall profits tax, and of course raising the corporate income and capital gains tax rates.

The middle 20% of income earners get about $176/yr in capital income and pays about $26 tax at the
capital gains rate of 15%. The next 20% income bracket receives %579
return on investments and pays $87 in tax on it. It’s chump change.
Even if you make more money than 80% of Americans, you only are
receiving $1460 per year in taxable dividends and are paying a lousy
$219. The chart really tells the story.of who an increase in capital
gains tax would affect. You have to be in the very top 5% to pay more
that $542 per year in cap gains tax.

Tell me again who the elitist is…

Obama made the point on Fox (ugh) that most folks have their
investments wrapped up in 401k’s or IRA and have their taxes deferred,
and then get taxed at the higher personal income tax rate instead of
the capital gains rate when they cash in.

Here’s the thing. McCain was NEVER serious about the gas tax
holiday. He knows it will never get through Congress let alone past a
Bush veto. This was a ploy to make Obama — who actually thinks these
things through and knows snake oil when he smells it — take the bait
and look the fool or hesitate so McCain could come out ala Kanye West
and claim Barack Obama doesn’t care about poor people.

What a fucking hack. Thank the spaghetti monster that Obama is in
this thing, cuz if Hillary’s hacktacularness was going head-to-head
against hackeriffic McCain, I’d shoot myself.