"The Obama plan would reduce taxes for low- and moderate-income families, but raise them significantly for high-bracket taxpayers . By 2012, middle-income taxpayers would see their after-tax income rise by about 5 percent, or nearly $2,200 annually. Those in the top 1 percent would face a $19,000 average tax increase—a 1.5 percent reduction in after-tax income."
"McCain would lift after-tax incomes an average of about 3 percent, or $1,400 annually, for middle-income taxpayers by 2012. But, in sharp contrast to Obama, he would cut taxes for those in the top 1% by more than $125,000, raising their after-tax income an average 9.5 percent."
The quotes are from the non-partisan Tax Policy Center. The full report is published HERE.
It's weird that McCain attributes the financial institution meltdown on Wall Street to "greed", but on the other hand, he's going to give all the handsomely paid execs a huge tax cut.
Haven't we seen this before?
"I'm shocked, shocked to find that gambling is going on in here!"
"Your winnings, sir."
"Oh, thank you very much."
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