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John McCain's Weekly Radio Address:
Good morning, this is John McCain, speaking to you a couple of days after the final presidential debate. It was a good contest, and I thought I did pretty well. But let's have a little straight talk: The real winner on Wednesday night was a fellow known to America as Joe the Plumber.
Joe Wurzelbacher is a straight-talking man himself. And his blunt question to Barack Obama, after a recent speech in Ohio, got a clarity out of my opponent that we hadn't heard before.
Joe explained that he works for a small plumbing and heating company. He's been thinking about maybe taking over the business when his boss retires. Problem is, that would make Joe one of millions of small business owners who face a sudden increase in taxes under my opponent's tax plan.
That didn't seem fair to Joe. He wanted to know why Barack Obama plans to raise taxes on folks who are trying to start or grow a business and create jobs for others. And fairness aside, at a time of serious economic crisis, punishing job creators didn't seem like a real good way to kick-start a recovery.
My opponent's answer showed that economic recovery isn't even his top priority. His goal, as Senator Obama put it, is to "spread the wealth around."
You see, he believes in redistributing wealth, not in policies that help us all make more of it. Joe, in his plainspoken way, said this sounded a lot like socialism. And a lot of Americans are thinking along those same lines. In the best case, "spreading the wealth around" is a familiar idea from the American left. And that kind of class warfare sure doesn't sound like a "new kind of politics."
This would also explain some big problems with my opponent's claim that he will cut income taxes for 95 percent of Americans. You might ask: How do you cut income taxes for 95 percent of Americans, when more than 40 percent pay no income taxes right now? How do you reduce the number zero?
Well, that's the key to Barack Obama's whole plan: Since you can't reduce taxes on those who pay zero, the government will write them all checks called a tax credit. And the Treasury will cover those checks by taxing other people, including a lot of folks just like Joe.
In other words, Barack Obama's tax plan would convert the IRS into a giant welfare agency, redistributing massive amounts of wealth at the direction of politicians in Washington. I suppose when you've voted against lowering taxes 94 times, as Senator Obama has done, a new definition of the term "tax credit" comes in handy.
At least in Europe, the Socialist leaders who so admire my opponent are upfront about their objectives. They use real numbers and honest language. And we should demand equal candor from Senator Obama. Raising taxes on some in order to give checks to others is not a tax cut it's just another government giveaway.
What's more, the Obama tax increase would come at the worst possible time for America, and especially for small businesses like the one Joe dreams of owning. Small businesses provide 16 million jobs in America. And a sudden tax hike will kill those jobs at a time when need to be creating more jobs.
Fortunately, America has an alternative to the phony tax cut my opponent started talking about only months ago. The McCain-Palin tax cut is the real thing. Among our other serious tax reforms, we're going to reduce every income tax bill in America, and double the child deduction for every family. We will cut the capital gains tax. And we will cut business taxes to help create jobs, and keep American businesses in America.
As Joe the Plumber has now reminded us all, America didn't become the greatest nation on earth by letting government "spread the wealth around." In this country, we believe in spreading opportunity, for those who need jobs and those who create them. And that is exactly what I intend to do as President of the United States.
Thanks for listening.