Submitted by buckeyestateblog on Sat, 09/06/2008 - 10:36.
Promoted from the forums - Nick D.
McCain said almost nothing substantive in his acceptance speech, but nearly everything he said about policy was false or grossly misleading.
On taxes, McCain said: “I will keep taxes low and cut them where I can. My opponent will raise them.” Not true. Obama’s plan would cut taxes for 95% of the population, and the top two tax brackets (the other 5%) would see their rates return to 1990 levels.
By contrast, what has not received much coverage is that McCain’s health plan would function as a huge tax increase on the middle class. His plan makes all employer contributions to health plans taxable (i.e., if your employer some or all of your health insurance premium, you’ll have to pay income taxes on your employer’s contributions). By making health insurance benefits taxable (and providing an inadequate tax credit to make up for it), McCain’s plan would increase taxes on an Ohio family making $60,000 by $1500 a year.
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