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McCain HEALTH Plan Details
BARACK OBAMA AND JOE BIDEN HAVE RESORTED TO LIES ABOUT THE PLAN
Truth About Obama's Lies About The McCain Health Care Plan : October 17, 2008
TO: McCain-Palin 2008 Staff FROM: Doug Holtz-Eakin, McCain-Palin 2008 Senior Policy Adviser
Barack Obama And Joe Biden Have Consistently Lied To The American People About John McCain's Plan. Their claims have failed every fact-check – from CBS1 to The Washington Post.2 John McCain is not going to raise taxes on middle class families. Barack Obama and Joe Biden are the only ones in this race that plan to raise taxes.
1 CBS, CBS Evening News, "The Truth About McCain and Insurance Taxes," 9/15/08
2 The Washington Post Website, http://voices.washingtonpost.com/factchecker/2008/09/four_pinocchios_for_bidens_tax.html, Accessed 10/3/08 3 Jason Furman, "Our Unhealthy Tax Code," Democracy: A Journal of Ideas. Issue 1, Summer 2006
Obama Fiction: John McCain Will Tax Health Care Benefits For The First Time And Will Be The Largest Middle Class Tax Increase In History.
The Truth: This Obama charge is a blatant mischaracterization of the McCain Health Plan. It only focuses on the fact that the value of the employer provided insurance will now show up as additional income for the employees – what he fails to mention is that John McCain's generous refundable tax credit ($5,000 for families and $2,500 for individuals) will not only shield millions of families from a tax increase but will actually give them MORE dollars to invest in their health care needs. The McCain Plan DOES NOT tax medical expenses like the cost of a procedure or medication.
o Approach Supported By Obama's Own Advisor: This is an approach supported by Barack Obama's own Senior Economic Advisor Jason Furman who wrote that "we could scrap the current deduction altogether and replace it with progressive tax credits that, together with other changes, would ensure that every American has affordable health insurance."3
o Better Than "Members of Congress": Under the McCain Plan, your employer can provide you with health insurance as good as a "Member of Congress" (approximately $12,000), and you would pay no more in taxes – regardless of your tax bracket. In fact, you would have additional money left over from the McCain tax credit to put in a health savings account.
Income Tax Liability
McCain Tax Credit
TOTAL Tax Savings
10% Bracket (Up to $15,650)
$1,200 ($12,000 x 10%)
$5,000
+ $3,800
15% Bracket ($15,650 -63,700)
$1,800 ($12,000 x 15%)
$5,000
+ $3,200
25% Bracket ($63,700-128,500)
$3,000 ($12,000 x 25%)
$5,000
+ $2,000
28% Bracket ($128,500-195,850)
$3,360 ($12,000 x 28%)
$5,000
+ $1,640
33% Bracket ($195,850 -349,700)
$3,960 ($12,000 x 33%)
$5,000
+ $1,040
35% Bracket (349,700 and over)
$4,200 ($12,000 x 35%)
$5,000
+$800
VIEW WWW.JOHNMCAIN.COM FOR THIS AND MORE NEWS
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DOCTORS FOR MCCAIN
OPPOSE OBAMA'S DANGEROUS
SOCIALIST PLANS TO ELIMINATE
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