Worst nightmares

WORST NIGHTMARES…. The McCain campaign seems to care quite a bit about nightmares. Over the course of the campaign, it’s described McCain as “the Democrats’ worst nightmare,” the Washington establishment’s “worst nightmare,” and “Hamas’ worst nightmare.”

Yesterday, on MSNBC, senior McCain aide Nicolle Wallace insisted that McCain “isn’t for giving tax cuts to corporations,” adding, “John McCain is their worst nightmare.”

The campaign’s preoccupation with nightmares notwithstanding, Wallace, a veteran of Karl Rove’s operation, made an unusually silly claim.

Far from being a corporate nightmare, the cornerstone of McCain’s economic plan — cutting the corporate tax rate from 35 to 25 percent — makes him quite the corporate darling. […]

Not only is Wallace wrong in claiming that McCain does not favor cutting corporations’ taxes but she’s also way off the mark in saying he’s their “worst nightmare.” In fact, the richest 200 American corporations stand to benefit handsomely ($45 billion) from a McCain administration.

McCain’s plan would dole out $4 billion a year to Big Oil (despite the numerous campaign claims to the contrary), $2 billion to health insurance companies and $1.44 billion to the parent companies of mainstream media outlets. Eight companies — Wal-Mart Stores Inc., Exxon Mobil Corp., ConocoPhillips Co., Bank of America Corp., AT&T, Berkshire Hathaway Inc., JPMorgan Chase & Co., and Microsoft Corp. — would each receive over $1 billion a year.

Why would corporations find this scary?

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Steve Benen

Steve Benen is a producer at MSNBC's The Rachel Maddow Show. He was the principal contributor to the Washington Monthly's Political Animal blog from August 2008 until January 2012.