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You are here: Home / Politics / McCain = Bush – tax breaks for the rich

McCain = Bush – tax breaks for the rich

August 17, 2008 by Paul Spoerry Leave a Comment

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, McCain’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:

MCain Corporate Tax Cuts
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 Obama’s tax plan “offers three times the break for middle class families” than the proposals of John McCain. To clarify the contrast in the two candidates’ plans, consider this fact: John and Cindy McCain would reap over $300,000 from McCain’s own tax plan. By contrast, both the Obamas and McCains would receive a substantial, albeit much smaller, savings under Obama’s plan (see a comparison here).

Via ThinkProgress

Filed Under: Politics Tagged With: barack obama, john mccain

About Paul Spoerry

I’m a groovy cat who’s into technology, Eastern Thought, and house music. I’m a proud and dedicated father to the coolest little guy on the planet (seriously, I'm NOT biased). I’m fascinated by ninjas, the Internet, and anybody who can balance objects on their nose for long periods of time.

I have a utility belt full of programming languages and a database of all my knowledge on databases... I practice code fu. Oh, I've also done actual Kung Fu, and have a black belt in Tae Kwon Do.

I run. I meditate. I dance. I blog at PaulSpoerry.com, tweet @PaulSpoerry, and I'm here on Google+.

I'm currently work for IBM developing web enabled insurance applications for IBM and support and develop a non-profit called The LittleBigFund.

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