Organizing for America

DEBATE REALITY CHECK: WHAT HE SAYS VS. WHAT HE MEANS ON TAXES

DEBATE REALITY CHECK: JOHN MCCAIN’S DOUBLETALK ON HIS TAX PLAN

What he Says

What He Means

He will “Double the Dividend” in his Tax Plan

· "I want to double the dividend from $3,500 to $7,000 for every dependent child in America."

· “Let's give every American a choice. Two tax brackets, generous dividends…”

Double the Personal Exemption for Dependents in his Tax Plan

· “John McCain Will Double The Personal Exemption For Dependents. He proposes to raise the personal exemption for each dependent from $3,500 to $7,000.”[1] [From his Website]

He will Offer Tax Credits So Families Can Purchase Health Care

§ “I want every family to have a $5,000 refundable tax credit so they can go out and purchase their own health care. "

He Will Also Impose a $3.6 Trillion Dollar Tax Increase by Taking Health Benefits

§ “So, [the tax credit is] equal to or more than the value of the tax break today for employer provided health insurance when you look at it… [A]ccording to the CBO initially by shifting to the employee tax aspect of it we save $3.5 trillion over a ten year period.” (McCain Remarks, Health08.org Conference, 10/31/07).

§ “Mr. Holtz-Eakin said in an interview that for some, Mr. McCain’s health care tax credits would not be large enough to compensate for his proposal to eliminate the tax breaks afforded to workers with employer-provided health benefits…. Charlie Black, a senior adviser to his campaign, who was also on the bus, acknowledged that some would pay more…” NYT, [5/1/08]).