He has to really drill this home over the next couple of months...
MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567
http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/?postversion=2008061113
The campaigns respond
Jason Furman, a newly appointed senior economic adviser to Obama, said his preliminary response is that the report's findings bear out what Obama's campaign has been saying: that he's for the middle class.
"Middle-class families get tax cuts that are three times larger from Obama than from McCain," Furman said. "And the McCain plan gives nearly one-quarter of its benefits to households making more than $2.8 million annually - the top 0.1%."
Douglas Holtz-Eakin, senior economic adviser to McCain, noted that the report does not take into account the spending reforms - such as eliminating earmarks - that are central to McCain's strategy to support tax relief and help reduce the deficit.
One of the center's co-directors, William Gale, conceded in a conference call that "if McCain succeeds (in achieving his proposed spending cuts), the fiscal cost of his plan does go down."
But spending cuts can be politically difficult to achieve, said Len Burman, the Tax Policy Center's director.
The Question - McCain WHERE AND WHAT R U GOING TO CUT?????
MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567
http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/?postversion=2008061113
The campaigns respond
Jason Furman, a newly appointed senior economic adviser to Obama, said his preliminary response is that the report's findings bear out what Obama's campaign has been saying: that he's for the middle class.
"Middle-class families get tax cuts that are three times larger from Obama than from McCain," Furman said. "And the McCain plan gives nearly one-quarter of its benefits to households making more than $2.8 million annually - the top 0.1%."
Douglas Holtz-Eakin, senior economic adviser to McCain, noted that the report does not take into account the spending reforms - such as eliminating earmarks - that are central to McCain's strategy to support tax relief and help reduce the deficit.
One of the center's co-directors, William Gale, conceded in a conference call that "if McCain succeeds (in achieving his proposed spending cuts), the fiscal cost of his plan does go down."
But spending cuts can be politically difficult to achieve, said Len Burman, the Tax Policy Center's director.
The Question - McCain WHERE AND WHAT R U GOING TO CUT?????