Today the Milwaukee Journal Sentinel reported on John McCain’s meeting with corporate elites. The report cites a conference call that was hosted by One Wisconsin Now yesterday. The call served as a reality check for McCain’s economic plan. It included comments from James Kvaal of the Center for American Progress Action Fund, Sara Rogers of the AFL-CIO, Robert Kraig of Citizen Action of Wisconsin, and Carolyn Castore of ACORN.
Sara Rogers commented that McCain initially wouldn’t acknowledge the problems with our economy. Now that he has been forced to address reality, she said that his plan amounts to only a simple repackaging of the failed Bush agenda.
Robert Kraig addressed the McCain plan on health care which he said would be a radical reconstruction of the system. Unfortunately it would actually encourage businesses not to pay for insurance and would only give a meager tax credit to people.
Carolyn Castore pointed out that even in the midst of the current housing crisis, McCain wants to lessen regulation on financial institutions.
James Kvaal revealed that McCain’s economic plan would deliver $4 billion in tax breaks to big oil companies and $2 billion to the health care industry. He further said that McCain is proposing a corporate write-off of equipment that will create a massive loophole and cost the rest of us $75 billion. In the end Kvaal concluded that the McCain economic plan ‘delivers very little to regular people.’