Last night, during his Saddleback Church presidential forum, Pastor Rick Warren asked both Sen. John McCain (R-AZ) and Sen. Barack Obama (D-IL) to “define rich.” With regard to tax brackets, “where do you move from middle class to rich?” Warren asked. Obama said, “if you are making $150,000 a year or less, as a family, then you’re middle class.”
McCain, however, dismissed Warren’s question, asking in jest, “How about $5 million?”
WARREN: 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? <…>
MCCAIN: How about $5 million? No, but seriously, I don’t think you can, I don’t think seriously that the point is I’m trying to make, seriously, and I’m sure that comment will be distorted but the point is…that we want to keep people’s taxes low, and increase revenues. … So, it doesn’t matter really what my definition of rich is because I don’t want to raise anybody’s taxes. I really don’t.
Watch it:
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McCain is right — millionaires are rich. In fact, those making $5 million per year or more are
wealthier than 99.99% of all Americans. All but the nation’s wealthiest five percent, have household incomes of
less than $174,000 per year.
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McCain summarized his position at the time saying, “
I’m not giving tax cuts for the rich.” Now McCain is proposing to do exactly that.
McCain — who, by his own definition, is rich — would get a
if his proposals were enacted. McCain would decrease middle-class Americans’ tax bills by just $319.
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