Subject: [big campaign] What The New McCain Ad Fails To Mention: He Raises Taxes On Middle Class, Give Huge Tax Breaks To Rich
From: "Adam Jentleson (CAPAF)" <[email-masked]>
To: "big campaign" <[email-masked]>
Date: Fri, 8 Aug 2008 12:23:08 -0400
List-Id: <bigcampaign.googlegroups.com>

What The New McCain Ad Fails To Mention: He Raises Taxes On Middle
Class, Give Huge Tax Breaks To Rich
<http://thinkprogress.org/wonkroom/2008/08/08/middle-class-ad/> 

Our guest blogger is Adam Jentleson
<http://www.americanprogress.org/aboutus/staff/JentlesonAdam.html> , the
Communications and Outreach Director for the Hyde Park Project at the
Center for American Progress Action Fund.

John McCain has released a new ad attacking Obama on taxes. Watch it:

Here are a few things McCain's new ad fails to mention. 

If McCain's health care plan raises taxes enough to avoid blowing a hole
in the deficit - as his aides say it does - it would raise taxes by
$1,119
<http://thinkprogress.org/wonkroom/wp-content/uploads/2008/07/health_tax
es21.pdf>  on a family making $60,000 within five years. A family making
$80,000 a year would see their taxes go up by almost $2,000 in the same
period.

And while McCain proposes large tax cuts, they are even more skewed
<http://www.americanprogressaction.org/issues/2008/pdf/tax_agenda.pdf>
towards the elite than President Bush's. Nearly half of his tax cuts
would go to big corporations and the top 1 percent of taxpayers. More
than 100 million families would not receive any tax cuts at all from
McCain's plan.

While Americans are paying nearly $4 a gallon for gas, McCain's plan
gives $4 billion in tax breaks
<http://www.americanprogressaction.org/issues/2008/pdf/oil_tax.pdf>  to
the 5 biggest oil companies in the U.S., including a $1.2 billion break
for ExxonMobil.

In sum, McCain's plan is the one that benefits the elite at the expense
of the middle class. But don't take our word for it - here is what the
Tax Policy Center at Brookings
<http://www.taxpolicycenter.org/publications/url.cfm?ID=411693>  has to
say:

"The two candidates' plans would have sharply different distributional
effects. Senator McCain's tax cuts would primarily benefit those with
very high incomes, almost all of whom would receive large tax cuts that
would, on average, raise their after-tax incomes by more than twice the
average for all households. Many fewer households at the bottom of the
income distribution would get tax cuts and those whose taxes fall would,
on average, see their after-tax income rise much less. In marked
contrast, Senator Obama offers much larger tax breaks to low- and
middle-income taxpayers and would increase taxes on high-income
taxpayers. The largest tax cuts, as a share of income, would go to those
at the bottom of the income distribution, while taxpayers with the
highest income would see their taxes rise."

http://thinkprogress.org/wonkroom/2008/08/08/middle-class-ad/

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