Millionaires To Reap Two-Thirds Of The Benefits From McCain's Proposed Tax Cuts

As part of his new economic outline - The Pension and Family Security Plan - Sen. John McCain (R-AZ) has proposed cutting the tax rate on long term capital gains and dividends to 7.5 percent in 2009 and 2010. The current tax rate for these capital gains is 15 percent.

Today, the non-partisan Tax Policy Center (TPC) released an analysis showing who would benefit from this cut. Like the rest of McCain's tax cuts, this one overwhelmingly aids the wealthy, with two-thirds of the benefit going to those making over $1 million.
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Related:
Study: McCain Getting Burnt By His Attacks On Obama
Economic Dishonor Roll

Comments

[martymartymarty]

02:52 PM on 10/15/2008

Aside from his adhering to Republican deregulation dogma, McCain himself, biographically, has never been not rich so taking care of the rich is what comes naturally to him. I do not believe he deliberately ignores the middle class and other working stiffs, I just think we do not even occur to him, we have never been part of his reality. This has been a blind spot throughout his entire career, I remain surprised he has not at least learned how to offer lip service about these matters.