"At Reuters Summit, McCain seen as best choice for economy"

[bluerum]

McCain plans to extend the Bush administration's tax cuts,

McCain plans to extend the Bush administration's tax cuts, eliminate the Alternative Minimum Tax, and slash corporate taxes. Obama, who has derided the Arizona senator's plans, has pledged to raise taxes on the wealthy and introduce a broad range of refundable tax credits.

"My personal opinion is I would argue that McCain is probably the better candidate for the economy and that is more or less because of his tax policies," James Caron, head of global rates research at investment bank Morgan Stanley in New York, said at the Reuters Summit this week.

"In this environment that we're in right now, the last thing you want to have is higher taxes and taking money out of the consumers' pockets," he added.

Reuters quotes someone who is probably in the top 1% income bracket complaining that he as a consumer would be hurt by helping to relieve the tax burden on those who make $20-40k a year.

We feel really bad for you Mr.Caron.

Why can't Reuters interview someone who truly represents the "consumer". Someone who is really in the "workforce". Not one of _{stubby shrubbies} have and have more friends?

The MSM is so in the business of distortion, conflation and carrying the rich mans water.

[Cha]

1. That headline is misleading as we all know..

Didn't reuters use to be really fair and balanced?

[Rosemary2205]

2. I'd really like to see a complete tax overhaul

Oh sure, it will never happen. I'd love to see a national sales tax on everything except used cars, grocery items that qualify as basic food toiletry and cleaning supplies, housing up to the median price level. -- or charge for everything and give people "prebates" for the taxes on the actual necessities of life for their household.

Whatever we do, I'd like to see corporations pay no taxes and therefore lose any right to representation or assistance from government whatsoever.

[ananda]

3. What a joke Reuters is now.

A sinister joke.

[Davis_X_Machina]

4. People, people...

The lede plays it straight -- which is what one expects from Reuters.

And 'Sinister' certainly isn't very accurate. You cover a business conference, you get what businessmen there say.

By Jennifer Ablan

NEW YORK (Reuters) - Republican presidential candidate John McCain's tax policies have given him an edge as the better man for the economy, various Wall Street experts said at this week's Reuters Investment Outlook Summit.

But, against a backdrop of job losses and deteriorating home values, Wall Street is backing McCain's Democratic rival, Barack Obama with cold, hard cash.

Read on, and discover that Obama's going to be the next President....

There's no doubt how the audience at the conference feels, and how the typical Thompson-Reuters stockholder feels is easy to infer, but that's a straight news story -- and I'm guessing everyone at the conference was 'someone who is probably in the top 1% income bracket'.

Can't quote 'em, if they're not there.

Reuters began its existence back in Victorian days, making timely news available to bankers and brokers.

It was the ur-Bloomberg.

Because its target business market needs accuracy -- they've got money riding on it -- it's about the best there is for straight news. Same with the Wall Street Journal, outside the editorial pages (at least pre-Murdoch).

And Reuters is absolutely despised by the National Review and CAMERA for its even-handed Middle East coverage.

[bluerum]

5. Yes - the article was positive in it's regard for Obama. I objected to it's

backhanded attempt to try and pass off a high level Wall Street analyst as a "consumer", and his callous complaint that taxing him at a higher rate would be bad for the economy.

What has been proven to be bad for the economy is, reducing taxes for the 1% and pushing it down to states, cities, towns and localities for the real consumer to absorb. Allowing oil companies a free hand to extort the consumer at the pump has hurt too.

The article was inaccurate and misrepresents economic realty as we know it. It tries to paint a picture of the man on the street being targeted by Obama's tax restructuring proposal. Obama's plan asks corporations and extremely wealthy individuals to step up and do their fair share, and provides modest relief for those making less than $60,000 a year.

[dana_b]

6. and the problem for this 1% is that the rest of us get to vote.

a lot if us understand that tax breaks for corporations and the wealthy have done NOTHING for us. They are scared and are going to say this b.s. They are also screwed unless they figure out another way to steal the election.