Analysis of the 2008 Presidential Candidates’ Tax Plans
Posted by ecoshift on August 19, 2008
A Updated Analysis of the 2008 Presidential Candidates’ Tax Plans: Executive Summary
Author(s): Roberton Williams, Howard Gleckman
Published by The Urban Institute’s Tax Policy Center: August 18, 2008
The nonpartisan Urban Institute publishes studies, reports, and books on timely topics worthy of public consideration. The views expressed are those of the authors and should not be attributed to the Urban Institute, its trustees, or its funders.
The text below is an excerpt from the complete document. Read the full report in PDF format.
Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next ten years, according to a newly updated analysis by the non-partisan Tax Policy Center. Compared to current law, TPC estimates the Obama plan would cut taxes by $2.9 trillion from 2009-2018. McCain would reduce taxes by nearly $4.2 trillion. Obama would give larger tax cuts to low- and moderate-income households and pay some of the cost by raising taxes on high-income taxpayers. In contrast, McCain would cut taxes across the board and give the biggest cuts to the highest-income households.