Tuesday, October 07, 2008
Extraordinary winds are driving in fiscal policy land. After deteriorating to privatize social insurance, the Bush Treasury is now planning to socialize private insurance. The Democratic presidential applicant is working on a tax reform platform, which offers three times superior tax cuts for upper middle class families than the Republican candidate's platform. And the Republican candidate, after promoting deregulatory policies for about 26 years in Congress, has now griped the oratory of a populist regulatory reformer.
Here's how the McCain plan works. "Every family receives a refundable tax credit of $5000 that can be used only to purchase health insurance. Individuals receive $2500. McCain's advisers say the cost of this tax credit is $3.6 trillion dollars over ten years. They also say that their plan is revenue neutral because they introduce a new tax on employer-based health insurance that the Joint Committee on Taxation scores as raising $3.6 trillion over 10 years".
posted by rejina
@ 3:33 AM
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