Non-Partisan Tax Center: McCain Tax Plan Aids Wealthy

[Prophet Saddam]

Interesting.

McCain's Tax Plan Aids Wealthy, Says Group

By Perry Bacon Jr.
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.

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."