McCain on taxes
August 16, 2008
Two proposals that will be debated after his answer on this question are as follows:
- $7000 tax credit for every child
- $5000 tax credit for each family to go find their own health insurance.
The first one will receive the inevitable “we can’t pay for it” banter. Will the balanced budget approach of McCain withstand that pressure? Will he back off under the heat? This remains to be seen.
The $5000 tax credit for health insurance was offered up and against plans for nationalized health insurance. It’s a good approach worth study. Some are saying that this would destroy the employer based health system. But it also puts the decision making back into the individual. This amounts to a monthly tax reprieve of $416/mo. That doesn’t pay for the average family insurance cost on an employer plan, and individuals would have to make up the difference–especially those who have wives in their child-bearing years. Needs more discussion and parsing. But it is an approach which goes into the proper direction and puts the decision back into the individual which is precisely the direction we need to go for true reform and the ability for the uninsured to get obtain insurance further driving down costs with more people contributing insurance premium into the system.
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