In new McCain attack ad, Palin tries to frighten Bush "have mores" with Obama's "massive tax burden"

[Amerigo Vespucci]

Wednesday, October 1, 2008 - 11:52 AM MST
Palin takes on Obama tax plans in new McCain ad
Phoenix Business Journal - by Mike Sunnucks



http://www.bizjournals.com/phoenix/stories/2008/09/29/daily44.html

Alaska. Gov. Sarah Palin is the “front-man” in the new ad from Republican presidential candidate John McCain that goes after Democratic foe Barack Obama on tax increases.

The new ad features Palin talking about Obama’s plans to increase income, investment and payroll taxes and their potential economic impact

“How are you going to be better off if our opponent adds a massive tax burden to the American economy?” asks Palin in the McCain ad.

Obama has countered those tax criticisms by saying his income tax plans would only raise taxes on those making more than $250,000 a year and he would offer tax rebates and relief to the middle class.

Obama does want to increase capital gains taxes on the wealthy and let currently reduced federal estate taxes go back to previous levels. He’s also floated possible higher payroll taxes, in particular on the wealthy, to fund Social Security. The Illinois senator has said some tax changes could be put off because of the Wall Street and economic troubles.

Obama’s income tax hike on the wealthy would go to 39.6 percent from 35 percent. That is low compare to historical top income tax rates. McCain wants to keep Bush tax cuts, including the 35 percent top rate, and trim corporate income taxes from 35 percent to 25 percent.