McCain Campaign Press Release - McCain-Palin 2008 Launches New Web Ad: "Better Off"

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest web ad, entitled "Better Off." The ad highlights Barack Obama's agenda to increase taxes at a time when Americans are hurting. The question for Barack Obama is: how will Americans be better off if Barack Obama raises taxes?

WATCH THE AD HERE: http://www.youtube.com/watch?v=RN_59afBjvk

Script For "Better Off" (Web :30)

GOVERNOR PALIN: How are you going to be better off if our opponent adds a massive tax burden to the American economy?

ANNCR: Good question.

GOVERNOR PALIN: The Democratic nominee for President supports plans to raise income taxes, and raise payroll taxes, and raise investment income taxes.

How are you going to be better off if our opponent adds a massive tax burden to the American economy?

ANNCR: The answer: we won't.

JOHN MCCAIN: I'm John McCain and I approve this message.

AD FACTS: Script For "Better Off" (Web :30)

GOVERNOR PALIN: How are you going to be better off if our opponent adds a massive tax burden to the American economy? ANNCR: Good question. GOVERNOR PALIN: The Democratic nominee for President supports plans to raise income taxes, and raise payroll taxes, and raise investment income taxes. How are you going to be better off if our opponent adds a massive tax burden to the American economy? ANNCR: The answer: we won't. JOHN MCCAIN: I'm John McCain and I approve this message. Barack Obama: "After this immediate problem, we've got the long-term fundamentals that will really make sure this economy grows." (Barack Obama, Remarks, Westminster, Colorado, 9/29/08)

Barack Obama Has Called For Higher Income Taxes, Social Security Taxes, Capital Gains And Dividend Taxes, And Corporate Taxes, As Well As "Massive New Domestic Spending." "Obama's transformation, if you go by his campaign so far, would mean higher income taxes, higher Social Security taxes, higher investment taxes, higher corporate taxes, massive new domestic spending, and a healthcare plan that perhaps could be the next step to a full-scale, single-payer system. Is that what most Americans want, someone who will fulfill a Democratic policy wish list?" (James Pethokoukis, "Barack Hussein Reagan? Ronald Wilson Obama?" U.S. News & World Report's "Capital Commerce" Blog, www.usnews.com , 2/12/08)

Barack Obama Would Raise Capital Gains And Dividend Taxes. "Sen. Obamawants to raise the long-term capital-gains rate for families making more than $250,000 to around 20 percent or somewhat higher but not above the 28 percent level it reached during the Reagan presidency, an Obama economic adviser says. The same rate would apply to most dividend income for these investors." (Tom Herman, "Tax Report Your Tax Bill: How McCain, ObamaDiffer," The Associated Press, 6/18/08)

Tax Policy Center: Barack Obama Would Raise Taxes On One Out Of Every Three Senior Households. "Even though Senator Obama's plan eliminates individual income taxes for seniors with incomes less than $50,000, his plan would raise taxes for almost 10 million senior households, over a third of the total (not shown in table). On average, seniors would face a tax increase of about 2 percent of income." (Burman et al., "A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans," The Tax Policy Center, 6/11/08)

Barack Obama Would Raise Income Taxes. Obama: "[I] would roll back the Bush tax cuts for those making over $250,000." (Sen. Barack Obama, CNN Democrat Presidential Candidate Debate, Manchester, NH, 6/3/07)

U.S. Department Of Treasury: Small Business Owners "Are Frequently Subject To The Highest Individual Income Tax Rates." "Changes in the individual income tax affect most businesses in the United States. That is because taxes on business earnings are often paid through the individual income tax when 'passed-through' to business owners. The business income from sole proprietorships, farm proprietorships, partnerships, S corporations, etc., is all taxed at the owners' individual income tax rates. This year 34 million business owners are expected to receive this type of income and pay tax on this income through the individual income tax. These businesses are typically small and often entrepreneurial in nature, and a source of innovation and risk-taking in the economy. Moreover, these business owners are frequently subject to the highest individual income tax rates." ("Topics Related To The President's Tax Relief," U.S. Departm ent Of Treasury, http://www.ustreas.gov/press/releases/reports/president_taxrelief_topics..., May 2008)

Barack Obama Would Raise Social Security Taxes. "Obama's proposal ... would impose social security taxes on income above $250,000 per year. He would continue to exempt income between $102,000 and $250,000 from social security taxes." (Teddy Davis, Sunlen Miller, and Gregory Wallace, "Obama Kisses Billions Goodbye," ABC News' "Political Radar" Blog, blogs.abcnews.com , 6/18/08)

Barack Obama Called For A Tax On Coal And Natural Gas. Obama: "What we ought to tax is dirty energy, like coal and, to a lesser extent, natural gas." ("Q&A With Sen. Barack Obama," San Antonio Express-News, 2/19/08)

Barack Obama Called For A Tax On Oil. Obama: "I think it is appropriate for us to impose a windfall profits tax on our oil companies."(Sen. Barack Obama, Remarks At A Campaign Event, Charlotte, NC, 5/2/08)

The Washington Post: Barack Obama's Tax On Oil Companies Will Only Lead To "Higher Prices At The Pump." "But to add a five-year tax increase on top of that to pay for a one-year gift to voters would, indeed, increase the cost of doing business. That cost would be passed along in forgone investment in new production, lower dividends for pension funds and other shareholders, and higher prices at the pump -- thus socking it to the consumers whom the plan is supposed to help. If oil prices fall, there might be no windfall profits to tax. Then the Obama rebate would have to be paid for through spending cuts, taxes on something else or borrowing." (Editorial, "Tapping Tired Wells," The Washington Post, 8/6/08)

The Las Vegas Review-Journal Calls Barack Obama's Tax Proposals "A Recipe For Economic Disaster." "[Obama] wants to the raise tax rate on the top income bracket from 35 percent to 39.6 percent, nearly double the tax rate on capital gains and dividends, and eliminate all tax breaks for the gas and oil industries and private equity firm managers. Talk about a recipe for economic disaster." (Editorial, "More Class Warfare," Las Vegas Review-Journal, 9/20/07)

FactCheck.org: "Obama's Votes Indicate A Willingness To Raise Taxes." "Certainly Obama's votes indicate a willingness to raise taxes, and Obama has not been shy about saying explicitly that he will raise some taxes." ("The $32,000 Question," FactCheck.org, http://www.factcheck.org , 7/8/08)