Speaking at an Iowa Rally a few minutes ago, John McCain warned Wall Street fat-cats that “change is coming,” and that they are “not going to like it.” Since John McCain wants to give those fat-cats and their businesses massive new tax cuts, exactly what part of it aren’t they going to like?
In addition to extending the Bush tax cuts, the 71-year-old candidate would slash the corporate income-tax rate from 35% to 25% at a cost to the Treasury of $100 billion a year, estimates Mr. Holtz-Eakin.
And working people? They get a tax increase to pay for his insurance industry approved healthcare plan:
John McCain wants to tax your employer-provided health care benefits. He wants to replace those benefits with an insufficient tax credit–$2500 for individuals and $5000 for families (the average cost per family for health insurance is $12000).
So corporate wrongdoers, watch out. You are in great peril.
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