Subject: [big campaign] Did McCain Change His Mind On Taxes Again?
From: "Adam Jentleson (CAPAF)" <[email-masked]>
To: "big campaign" <[email-masked]>
Date: Thu, 12 Jun 2008 09:26:53 -0400
List-Id: <bigcampaign.googlegroups.com>

Here is the post I mentioned.
Landrigan's coverage of the TPC study:"Analysts say Obama offers three
times the tax break for middle class"
http://www.nashuatelegraph.com/apps/pbcs.dll/article?AID=/20080611/NEWSB
LOG/244217910

Any help pushing this out would be appreciated.  

-AJ

http://thinkprogress.org/wonkroom/2008/06/11/mccain-flip-on-taxes/

Did Senator McCain Change His Mind On Taxes Again?
<http://thinkprogress.org/wonkroom/2008/06/11/mccain-flip-on-taxes/> 

Our guest bloggers are Center for American Progress Action Fund fellows
Robert Gordon
<http://www.americanprogress.org/experts/GordonRobert.html>  and James
Kvaal <http://www.americanprogress.org/aboutus/staff/KvaalJames.html> .

The highly respected Tax Policy Center (TPC) has posted a new
side-by-side analysis
<http://taxpolicycenter.org/taxtopics/election_issues_matrix.cfm>
comparing the McCain and Obama tax agendas. If accurate, this post
indicates that the McCain team has described to TPC policies that differ
dramatically from policies that remain on McCain's website and, in one
instance, were reiterated by McCain just yesterday.

	Alternative Minimum Tax. Yesterday, McCain said
<http://www.johnmccain.com/Informing/News/Speeches/641cbd73-6945-4103-ad
70-306862fdecf3.htm>  he supports "a phase-out of the Alternative
Minimum Tax." His website still says
<http://www.johnmccain.com/Informing/Issues/4dbd2cc7-890e-47f1-882f-b8fc
4cfecc78.htm>  he will "permanently repeal the AMT." TPC says, however,
that McCain wants to "[e]xtend and index 2007 AMT patch, further
increase exemption by 5 percent in excess of inflation after 2013
(temporarily)." That's relief from the AMT, but well short of "permanent
repeal" or "phase out."

	Corporate Expensing. McCain's website still features his
proposal "to permit corporations to immediately deduct the cost of
equipment investment, providing a valuable pro-growth investment
incentive." That is enormously costly. In a fact sheet also still
available on the website, the McCain campaign compares
<http://www.johnmccain.com/Informing/Issues/1a8640f0-b2e3-4edb-b2a9-236d
f79d2579.htm>  this proposal to a "modest" partial expensing measure
scored
<http://www.washingtonpost.com/wp-dyn/content/article/2008/04/20/AR20080
42001810.html>  by the Treasury Department as costing $1.2 trillion over
10 years. But TPC says that McCain is now proposing only to "allow
first-year deduction of 3 and 5-year equipment," and that McCain also
wants a complementary repeal of the interest tax deduction. The TPC also
says that McCain's proposal "expires." With these modifications, the
proposal's cost will be less than 2% of the proposal that McCain once
deemed "modest."

Substantively, these changes are mostly (modest) moves in the right
direction - although they also show McCain manipulating phase-ins and
phase-outs just as President Bush has done for the last eight years. But
our first question is: What is the McCain policy-what's on their
website, or what they seem to have told TPC?

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