Chris Wallace Confronts John McCain On Tax Flip-Flop (VIDEO)
by Rob Kivett | on November 26, 2012
WASHINGTON — “Fox News Sunday” host Chris Wallace confronted Sen. John McCain (R-Ariz.) on Sunday for flip-flopping on tax cuts for the rich.
Wallace asked McCain whether he would oppose higher income tax rates as part of a deal with Democrats to avert the so-called “fiscal cliff” — the moment at the end of the year when tax hikes and spending cuts are scheduled to take effect, with potentially negative consequences for the economy.
“I would be very much opposed to raising tax rates,” McCain said. “But I do believe we can close a lot of loopholes … Things like a limit on the amount of deduction of charitable giving. A limit on the amount you can take on your home loan mortgage deduction.”
Democrats want the top marginal tax rate to go from the current 35 percent back to its Clinton-era level of nearly 40 percent on incomes above $250,000.
“Fox News Sunday” host Chris Wallace confronted Sen. John McCain (R-Ariz.) on Sunday for flip-flopping on tax cuts for the rich.
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Chris Wallace Confronts John McCain On Tax Flip-Flop (VIDEO): via HuffPost huff.to/Um6qXY
— Chad Sarno (@Wanderer19) November 26, 2012
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