October 29, 2008
Peter Ferrara Cites Tax Foundation Work on McCain Health Credit in Column for American Spectator
By Peter Ferrara
McCain has proposed to increase the dependent's exemption for children from $3,500 to $7,000. At the middle class income tax bracket of 25%, that would mean a tax cut of $875 per child. McCain has also proposed a $5,000 tax credit for the purchase of health insurance financed by actually redistributing an existing tax subsidy that now goes mostly to higher income workers. Obama has bludgeoned this proposal with ads proclaiming it is a tax increase. But the truth is as Tax Foundation President Scott Hodge has written, "This tax provision has a bigger impact on cutting people's taxes than any single proposal from either party."
