Spring Break
On the issues: John McCain
Christopher Duray
Issue date: 11/3/08 Section: Election Special
Following a college career at the Naval Academy, Republican presidential candidate Sen. John McCain (Ariz.) began a 22-year career as a Naval Aviator for the U.S. Military. He fought in the Vietnam War and his plane was shot down during his 23rd bombing mission. He was held in a prisoner of war camp and tortured for several years. After the war, McCain continued serving in the Navy, eventually becoming Navy Liaison to the United States Senate. He ended his military career in 1981, having earned the Silver Star, Bronze Star, Legion of Merit, Purple Heart, and Distinguished Flying Cross. In 1982, he was elected to the House of Representatives and then the Senate in 1987. In Congress, McCain worked to reform government spending, strengthen the military and close loopholes that let lobbyists and special interest groups affect policy.
Economy
McCain's economic plan revolves around a free market. If elected, McCain will support small businesses through tax benefits and minimized health insurance mandates. He hopes that, by reducing financial barriers like taxes and tariffs, American products will find a revived market overseas. This would hopefully bolster demand and interest in domestic production, creating a need for jobs at home rather than outsourcing overseas.
McCain believes the current economic crisis is a government-created problem. He details a plan to reduce needless spending by halting earmarks. This plan would require him to seek approval for line-item veto power, which lets executives veto part of a legislation instead of the entire bill. It was last granted to President Clinton in 1996 to control pork barrel spending, but was declared unconstitutional by the Supreme Court in 1998.
McCain would also place a one-year spending freeze on non-defense related programs to evaluate their need. He would also work toward improving Social Security and Medicare.
Taxes
McCain's tax plan is designed to protect small businesses and entrepreneurs by maintaining a 35 percent top tax rate and phasing out alternative minimum taxation, a 1969 system designed to target corporations exploiting tax loopholes to vastly reduce their dues.
Economy
McCain's economic plan revolves around a free market. If elected, McCain will support small businesses through tax benefits and minimized health insurance mandates. He hopes that, by reducing financial barriers like taxes and tariffs, American products will find a revived market overseas. This would hopefully bolster demand and interest in domestic production, creating a need for jobs at home rather than outsourcing overseas.
McCain believes the current economic crisis is a government-created problem. He details a plan to reduce needless spending by halting earmarks. This plan would require him to seek approval for line-item veto power, which lets executives veto part of a legislation instead of the entire bill. It was last granted to President Clinton in 1996 to control pork barrel spending, but was declared unconstitutional by the Supreme Court in 1998.
McCain would also place a one-year spending freeze on non-defense related programs to evaluate their need. He would also work toward improving Social Security and Medicare.
Taxes
McCain's tax plan is designed to protect small businesses and entrepreneurs by maintaining a 35 percent top tax rate and phasing out alternative minimum taxation, a 1969 system designed to target corporations exploiting tax loopholes to vastly reduce their dues.
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