Obama’s Tax Plan Better for Working Families Than McCain’s
As the Republican Convention continued last night, former Sen. Fred Thompson (R-Tenn.) brought out a tired old talking point in his speech, one that Sen. John McCain and his allies have been pushing all year and that corporate interests have been trying to sell for decades. It’s the old “tax hike” scare.
Thompson and McCain are flat-out wrong when they allege Sen. Barack Obama's proposed economic plan would raise taxes on millions of working families. In reality, his plan would give tax cuts to nearly all working families.
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The Tax Policy Center has done intensive analysis of the two candidates’ tax proposals and their public statements and found that the majority of taxpayers would see more relief from Obama’s plan than McCain’s. The Washington Post has created a chart that explains exactly what each candidate’s tax plans would mean for different income levels, and the analysis points to stark differences.
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