October 8, 2008
Boston Globe Uses Tax Foundation to Fact-Check Presidential Candidates
By Lisa Wangsness
Obama: "Now, when Senator McCain is proposing tax cuts that would give the average Fortune 500 CEO an additional $700,000 in tax cuts, that's not sharing a burden."
Fact check: That's true—as long as you assume the Bush tax cuts will be allowed to expire, according to the nonpartisan Tax Foundation. "The $700,000 in reduced taxes for CEOs comes from McCain's extending of the lower tax rates that those CEOs benefit from that were in place under the Bush tax cuts," the Tax Foundation's website notes.
