Tax cuts for the wealthy…but folks who receive health insurance through their employers would now be paying income tax on what was previously untaxed money. This, his backers say, is not really a tax increase.
Hey, remember when Republicans were passing around those lists of Michael Dukakis and later Bill Clinton tax increases? One, as I recall, was that one of those governors — Clinton, I think — signed a bill extending the dog racing season in his state. The logic was that since the season was longer, the government would be collecting more revenues from its cut and that qualified the extension as a tax increase.
Yeah, McCain's plan also includes a subsidy payment which people can put towards their health care costs. But it'll wind up costing middle class and poor folks more…which I suppose is the whole point of it. Someone has to make up the money Cindy McCain won't be paying.