More proof McCain is Bush 2.0 – caters to rich, snuffs the middle class.
McCain has cultivated support from mega-corporations by promising to dole out huge tax breaks in return should he win the presidency. As the Wonk Room reported in June, McCainâ€™s plan to cut the corporate tax rate from 35 percent to 25 percent would yield $45 billion in tax breaks for the 200 largest corporations:
McCain would deliver about $4 billion in tax cuts to the five largest oil companies. He would also hand over $2 billion to the top 10 health insurance companies. Unlike the highest-rung of the corporate ladder, much of the rest of Wall Street refuses to be bought off. Those employees are giving more to Obama than to McCain.
While McCain caters to the rich, Barack Obamaâ€™s tax plan â€œoffers three times the break for middle class familiesâ€ than the proposals of John McCain. To clarify the contrast in the two candidatesâ€™ plans, consider this fact: John and Cindy McCain would reap over $300,000 from McCainâ€™s own tax plan. By contrast, both the Obamas and McCains would receive a substantial, albeit much smaller, savings under Obamaâ€™s plan (see a comparison here).