McCain Campaign Press Release - "In Case You Missed It": McCain Campaign Conference Call On Barack Obama's Tax Increases

"Senator Obama has a series of tax proposals and tax actions that would devastate the American economy. For example, he has voted to increase income taxes on individuals earning a little as $32,000 a year. He doesn't make much of that on the campaign trail, but he did that in the Senate." --Steve Forbes

ARLINGTON, VA -- Today, U.S. Senator John McCain's presidential campaign held a press conference call with Steve Forbes, economic policy adviser, and Doug Holtz-Eakin, senior policy adviser, to discuss Senator Obama's economic plan:

Steve Forbes: "Senator Obama has a series of tax proposals and tax actions that would devastate the American economy. For example, he has voted to increase income taxes on individuals earning a little as $32,000 a year. He doesn't make much of that on the campaign trail, but he did that in the Senate. He has voted against extending, for example, the child tax credit expansion. He voted at least twice against the marriage penalty relief act. So, when it comes to actions, not what he says, but when it comes to actions, he is a massive tax increaser and this gets to the whole credibility problem with Senator Obama saying one thing and then doing another. We've noticed that he's changed his mind on the town hall debates, Iraq and Iran, and the like.

"He's on the campaign trail now saying only the rich would pay higher taxes. Yet, he has voted for tax increases that would impact people earning as little as $32,000 a year. He has also voted for 90-some-other-odd tax increases, so this led to the biggest tax increase since Herbert Hoover and the Great Depression.

"By contrast, Senator McCain has got a very exciting tax cut proposal on middle-class Americans, on businesses, on people who can create jobs, particularly small businesses. Even though the economy is in trouble now, small businesses, this year, have created 200,000 plus jobs, and they would be adversely impacted by what Senator Obama has proposed and helped by what Senator McCain has proposed. So there couldn't be a starker contrast: Senator McCain, pro-growth tax proposals, job creating tax proposals; by contrast, Senator Obama, under his definition, individual making $32,000, you're rich you're going to pay more."

Doug Holtz-Eakin: "I just want to say that I think Steve summarized the record quite well, Senator Obama has a whole series of votes, most particularly wanting to tax people making as little as $33,000. These tax increases would harm the economy and the person who has made that case most eloquently is Senator Obama himself, who when presented with this dilemma by John Harwood said well, he might have to defer some tax increases because we are in another recession. And I think it raises the question why a consistent record of votes which would harm the U.S. economy, when that's not what the American people need and why it is that he would tow the party line and have a habit of voting for things that would be against the American people's interest.

"Senator McCain in contrast has consistently tried to do what is best for the American people, and he is not going to raise taxes right now. He is going to keep taxes at that place where they are, because the small businesses of America do need to create jobs and that's what is most important for Americans at the time."

ListenTo The Full Conference Call