Tax Cuts -- Who Really Gets the Breaks

Everybody is worried about taxes so today, we feature a series of "just the facts" items about taxes -- see column on right side of this blog which gives detail on John's McCain's original verbatim answer regarding his commitment to keep the Bush Tax Cuts, which are set to expire in 2010.

The Congressional Budget Office (CBO) study was done when the Majority was held by the Republicans. Other conservative sources agree, e.g.,

• The Wall Street Journal (reporter Martin Vaughan) wrote that “an apt description” for McCain’s tax proposals would be to say “that the wealthy would benefit most.”
• The Cato Institute’s Chris Edwards, director of tax policy studies points out, McCain’s proposals are aimed at the wealthy “even more so than Bush’s'.".... “McCain’s proposals this year are consistently pretty supply-side, even more so than Bush’s were.”
• Earlier this year, the non-partisan Tax Policy Center found that McCain’s economic plan “would primarily benefit those with very high incomes.” In fact, under McCain’s plan, John and Cindy McCain would get a $300,000 tax break while middle class Americans would save only $319. The McCains save $60,016 more under McCain’s tax plan than under Bush’s.

In their more candid moments, McCain’s supporters admit that he is doubling down on Bush’s tax policies. In May, House Minority Whip Roy Blunt (R-MO) said that McCain’s “tax policies” would “be in effect a third Bush term.” Sen. Lindsey Graham (R-SC) told ABC News in June that McCain’s policies would “absolutely” be an “extension” and “enhancement” of Bush’s.