One for the clips file from LA Times…
McCain and Obama tax plans diverge on wealth
True to party doctrine, the GOP candidate’s economic proposals would ease the burden on the rich, while the Democratic candidate’s would increase it.
By Stephen Braun, Los Angeles Times Staff Writer
August 21, 2008
WASHINGTON — One in a series of occasional stories
— The sharpening rhetoric between John McCain and Barack Obama over their competing plans to overhaul the nation’s tax system has underscored one of the most profound differences between them — how they would target America’s wealthiest taxpayers.
Democratic-leaning economists say McCain’s plan offers little new aid to squeezed middle-class families. And they question whether corporations and wealthy Americans would convert McCain-era tax savings into new investments that would bolster the economy.
“McCain does nothing about income inequality,” said John Irons, research and policy director for the Economic Policy Institute, a center-left think tank backed by labor interests. “It’s skewed toward upper-income Americans to the exclusion of most everyone else.”