Subject: [big campaign] New "McCain Tax Cut Cost-o-Meter"
From: "Adam Jentleson @ American Progress Action" <[email-masked]>
To: "big campaign" <[email-masked]>
Date: Wed, 23 Apr 2008 17:01:27 -0400
List-Id: <bigcampaign.googlegroups.com>

New from the Wonk Room -- our McCain Tax Cut Cost-o-Meter shows how
very, very far McCain has to go to pay for his $300 billion in new tax
cuts.  

http://thinkprogress.org/wonkroom/2008/04/23/mccain-thermometer/

The McCain Tax Cut Cost-o-Meter
<http://thinkprogress.org/wonkroom/2008/04/23/mccain-thermometer/> 

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 wants to double the Bush tax cuts. But how does this
erstwhile fiscal conservative plan to pay for it? An excellent question
- and one his campaign has so far failed to answer.

McCain's tax plan would cost a whopping $300 billion (to put that in
perspective, we spend about $200 billion a year
<http://www.nytimes.com/2008/04/23/business/23leonhardt.html?_r=2&ref=po
litics&oref=slogin&oref=slogin>  on the war in Iraq). According to our
accounting, McCain has so far managed to offset a grand total of $33
billion, or 11% of his tax cut.

As we have chronicled
<http://thinkprogress.org/wonkroom/2008/04/16/earmarks-mccain-proposal/>
on this blog, the other savings McCain claims are bogus. So where will
this former budget hawk come up with the more than $250 billion he needs
to pay for his plan? 

In an effort to hold McCain accountable, The Wonk Room is introducing
the Tax Cut Cost-o-Meter, which documents the gap between McCain's tax
cuts and the offsets he proposes to pay for them. 

We'll be updating our new thermometer as the McCain campaign finds ways
to pay for its tax cuts - or doesn't, as the case may be.

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