John McCain’s Tax Plan would benefit Wealthy American
I know, it's shocking.
A detailed analysis of the candidates' tax plans confirms one of Barack Obama's top arguments against John McCain: the Arizona senator's proposals would offer substantial benefits to wealthy Americans.On a related note:
An analysis of both campaigns proposals by the Washington-based, nonpartisan Tax Policy Center found that for people with incomes between $66,354 and $111,645, Obama's proposals would cut their taxes by more than $1000, compared to around $300 under McCain's plan. But for Americans with incomes above $603,402, Obama would raise their taxes dramatically, by more than $115,000 a year, while McCain would cut them by $45,000.
"The Obama tax plan would make the tax system significantly more progressive by providing large tax breaks to those at the bottom of the income scale and raising taxes significantly on upper-income earners," the group concludes. "The McCain tax plan would make the tax system more regressive.... It would do so by providing relatively little tax relief to those at the bottom of the income scale while providing huge tax cuts to households at the very top of the income distribution."
The McCains' marriage has mixed business and politics from the beginning, according to an expansive review by The Associated Press of thousands of pages of campaign, personal finance, real estate and property records nationwide. The paperwork chronicles the McCains' ascent from Arizona newlyweds to political power couple on the national stage.
As heiress to her father's stake in Hensley & Co. of Phoenix, Cindy McCain is an executive whose worth may exceed $100 million. Her beer earnings have afforded the GOP presidential nominee a wealthy lifestyle with a private jet and vacation homes at his disposal, and her connections helped him launch his political career - even if the millions remain in her name alone.