October, 2008:
Senator McCain would give more tax breaks to the rich without explaining how he would balance the federal budget or pay down the national debt, which has reached an astounding $10.15 TRILLION dollars (and ususally getting higher all the time).

From Parade Magazine in the Los Angeles Times, October 12, 2008. Also Parade.com/intel:

"Senators Barack Obama and John McCain both say they'll cut federal taxes if elected. Here's what their proposals would mean for you.

....

"If you are among the top 5% of earners... (Under Obama's plan) "You would pay and additional $121 to $542,882 (if you earn more than $2.87 million per year)."

Under the McCain plan your taxes would go down for the top 5% of wage earners. You would save $8,159 to $290,708 on your income tax if you make more than $2.87 million per year.

"If your annual salary is less than $112,000, you'd pay less in taxes under Obama's plan; if your salary is higher, McCain would cut your taxes more. 'While the aggregate tax cut is bigger for McCain, a larger number of voters get more money under Obama,' says Alan Viard, a tax policy expert at the conservative American Enterprise Institute. 'Obama is choosing to emphasize tax cuts for the middle class, whereas McCain's strategy is to keep rates lower at the top as a way to facilitate long run growth.' For example, a person with an income of $1 million could see his taxes increase under Obama by as much as $94,000, whereas under McCain's plan he could save about $48,000."

Source: Parade Magazine dated October 12, 2008.
Parade.com./intel

Paladin Law