Wonk Room » REPORT: McCain Plan Doles Out $2 Billion In Tax Cuts For The Biggest Health Insurers

REPORT: McCain Plan Doles Out $2 Billion In Tax Cuts For The Biggest Health Insurers

By Guest Blogger on Apr 9th, 2008 at 4:13 pm

REPORT: McCain Plan Doles Out $2 Billion In Tax Cuts For The Biggest Health Insurers

Our guest blogger is James Kvaal, Domestic Policy Advisor at the Center for American Progress Action Fund.

More bad news for regular families today: the median family income is down and income inequality is up. But although John McCain’s tax plan costs $2 trillion, it gives little or nothing to most families.

Instead, McCain chose to earmark 80 percent of his tax relief proposals for corporations. He would cut the top tax rate from 35 percent to 25 percent and allow corporations to immediately write off many investments.

For the ten largest American health insurance companies, the McCain plan is worth nearly $2 billion a year, according to a new analysis released today by the Center for American Progress Action Fund. UnitedHealth Group alone would receive a $700 million tax cut. The tax breaks come in addition to the benefits of McCain’s health care plan for insurance companies.

Read the whole analysis here (pdf).

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4 Responses to “REPORT: McCain Plan Doles Out $2 Billion In Tax Cuts For The Biggest Health Insurers”

Thorzdad Says:

What is that maniac thinking?
Even after taxes, health insurers are some of the most profitable entities on the planet. Does he truly, honestly believe that giving them more money will somehow, magically make insurance affordable (and usable) to American families? I can’t even begin to fathom the tortured logic that would lead one to make that conclusion.
April 9th, 2008 at 4:31 pm
christopher wiwi Says:

This guy is out of his mind. He does not know that health care has risen as fast as the profits these companies make and the egregious pay the CEO`s are making.Sen. McCain and his elist that are running his campaign have know idea what it is to be middle or working class americans in this country. He is so far removed from middle America he only knows what he hears, the sen. must not have a middle or working class base from which he could draw experiences from or he would know his plan does nothing for these people that are not in his ELITIST BASE. The man`s campaign is geared toward the wealthy and corpratist of this country. A vote for McCain is a vote for poverty for the middle and working class of America.
April 10th, 2008 at 10:02 am
skaren Says:

I have always been amazed at how the poor continue to vote Republican, in particular in the deep south. Maybe the poor really are dumb. Watch another round of deep south states go for Mcshame in the next election.

Eventually the divide between rich and poor will bring about real change, history shows it usually does.
April 10th, 2008 at 10:58 am
john saarikko Says:

Last night I was studying this pdf document in detail. It is form 10-K submitted to the SEC by UnitedHealthgroup.
The info there is disgusting. The American people are getting ripped off big time - real big time. I am trying to simplify the info to add to my web site:
http://www.universalhealthcareinfousa.com

http://www.unitedhealthgroup.com/invest/2007/10-K_2007.pdf

Its a 100 pages long but looking at the details leads one to drink.

Yes Thor, the profits and the rate at which they are increasing way beyond inflation is disgusting. But the politicians that “we the people” have put in charge let it happen.
April 13th, 2008 at 8:21 am