Wonk Room » Joe Klein Nails It On McCain’s Health Care Tax Increase

Joe Klein Nails It On McCain’s Health Care Tax Increase

By Guest Blogger on Sep 11th, 2008 at 4:55 pm

Joe Klein Nails It On McCain’s Health Care Tax Increase

Our guest bloggers are Robert Gordon and James Kvaal, senior fellows at the Center for American Progress Action Fund.

At Swampland, Joe Klein posts a great piece on McCain’s plan to raise taxes on many families with health insurance. Joe Biden raised the same issue yesterday, as did a misleading piece in the New York Sun. We wanted to add one more point.

McCain endlessly charges that Obama wants to “raise taxes.” But due to McCain’s health care plan, far more middle-class families will see a tax increase under McCain than under Obama. Consider:

- McCain raise taxes on more people. Obama would raise taxes on about 4 million high-income households, all with incomes above $200,000. McCain would eventually raise taxes on most of the roughly 90 million households with health benefits from their employers. As explained here, the main reason is that McCain’s tax credit is designed to fall further and further behind rising premiums.

- In addition, McCain raises taxes on the middle class. While Obama would only increase taxes on households making more than $200,000 a year, McCain would raise taxes on typical families making $60,000 by $1,100 in 2013.

So remind us again, who wants to raise taxes?

Comments
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One Response to “Joe Klein Nails It On McCain’s Health Care Tax Increase”

stateofthedivision Says:

McCain would eventually raise taxes on most of the roughly 90 million households with health benefits from their employers.

McCain’s plan would tax employers who provide the benefit, while giving the tax credit to the employee.

The situation becomes worse if large numbers of employers stop providing the benefit altogether. This is highly likely in the current economic environment, as employers “can’t afford health insurance while competing in a global economy”.

Not only do individual taxes go up over time, they get to buy their health insurance. It’s a double McCon whammy! POW!
September 11th, 2008 at 5:16 pm