John McCain
Town Hall Meeting
Sun City Center, FL 01/26/08

TRANSCRIPT:
JOHN MCCAIN: "My friends I want to talk to you just a minute about, about the economy. You know that we've got difficulties, you know we've got problems. You know that there are many things that we have to do to fix our economy. And we're in a rough patch.

The first thing we need to do, my friends, is make sure that those tax cuts are made permanent so you don't experience an increase in your taxes as a result of a lapse in them.

The second we need to do is do away with the Alternate Minimum Tax. There's a thing called the Alternate Minimum Tax—it's eaten into 25 million families. It's got to be repealed. It cannot, it cannot continue to grow and afflict American families.

We need to have corporations have reduced tax rates. My friends, corporations in America today pay the highest tax rate of any, of any country in the world save Japan. That's why businesses leave. That's why jobs leave. And that's why we need to cut those corporate taxes so those corporations will stay.

We want every businessperson who wants to invest in new equipment and new enterprises will be able to write that off in a year. We need to increase the research and development tax credit that is so necessary to foster research and development in America. And my friends, we need to stop the spending."

LABEL: JM FL 1-26 (BH#87) HGCAS - clipB

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