McCain Campaign Press Release - McCain-Palin 2008 Launches New Web Ad: "Patriotic Act"

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest web ad, entitled "Patriotic Act." The ad highlights Joe Biden's belief that it is patriotic to pay higher taxes so that Barack Obama can expand government. Under the Obama economic plan, there will be a lot more patriotic Americans.

VIEW THE AD HERE: http://www.youtube.com/watch?v=tpb4ldtsFz4

Script For "Patriotic Act" (WEB :30)

ANNCR: Joe Biden calls paying higher taxes a "patriotic" act.

Obama and Biden voted to raise taxes on working Americans making just $42,000 a year.

Higher taxes on seniors and their life savings.

Higher taxes on your electric bills.

Lots more taxes.

Lots more patriots.

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

AD FACTS: Script For "Patriotic Act" (WEB :30)

ANNCR: Joe Biden calls paying higher taxes a "patriotic" act.

Joe Biden: "It's Time To Be Patriotic" And Pay Higher Taxes. JOE BIDEN: "We want to take money and put it back in the pocket of middle-class people." ABC'S KATE SNOW: "Anybody making over $250,000..." BIDEN: "Is gonna pay more." SNOW: "Is going to pay more." BIDEN: "You got it. It's time to be patriotic, Kate. Time to jump in. Time to be part of the deal. Time to help get America out of the rut." (ABC's "Good Morning America," 9/18/08)



Watch It Here: http://www.youtube.com/watch?v=ArJkzRYffec

ANNCR: Obama and Biden voted to raise taxes on working Americans making just $42,000 a year.

Barack Obama Voted Twice In Favor Of The Democrats' FY 2009 Budget Resolution. (S. Con. Res. 70, CQ Vote #85: Adopted 51-44: R 2-43; D 47-1; I 2-0, 3/14/08, Obama Voted Yea; S. Con. Res. 70, CQ Vote #142: Adopted 48- 45: R 2- 44; D 44- 1; I 2-0, 6/4/08, Obama Voted Yea)

FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. ... But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standar d deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000." ("The $32,000 Question," FactCheck.org, http://www.factcheck.org , 7/8/08)

Obama Campaign: Barack Obama Voted For A Budget Resolution That Wouldn't Have Increased Taxes For Any Taxpayers Making Less Than $41,500. ROSEN: "Campaign aides to Senator Obama today, called the charge that he voted for tax hikes on people making only $32,000 a year, quote, 'bogus.' They circulated an analysis stating that the resolution that Obama had voted for would not have increase taxes on single taxpayer making less than $41,500 a year in total income." (Fox News' "America's Election Headquarters," 7/30/08)

ANNCR: Higher taxes on seniors and their life savings.

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)

In 2006, Over 26.7 Million U.S. Taxpayers Reported Capital Gains Income. (Internal Revenue Service Website, "Individual Income And Tax Data, By State And Size Of Adjusted Gross Income, Tax Year 2006," www.irs.gov , Accessed 7/30/08)

In 2006, Over 31.5 Million U.S. Taxpayers Reported Dividend Income. (Internal Revenue Service Website, "Individual Income And Tax Data, By State And Size Of Adjusted Gross Income, Tax Year 2006," www.irs.gov , Accessed 7/30/08)

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)

Tax Foundation: Seniors "Rely Most On The Stable Flow Of Income That Dividends Provide." "Most debate over whether to extend the reduced rates on dividends and capital gains has focused on the tax benefits of these cuts to high-income taxpayers. What has been largely ignored is the impact these tax policies have on corporations' decisions on how best to distribute their income to shareholders -- including senior citizens, who rely most on the stable flow of income that dividends provide. A recent Tax Foundation analysis illustrated that a large number of those benefiting from dividends are seniors and those on the verge of retirement (See www.taxfoundation.org ). A further analysis of these seniors earning dividends reveals that lower-income seniors who file tax returns depend more heavily on divide nd income than high-income seniors." (Gerald Prante, "The Importance Of Dividend Income For Low-Income Seniors," Tax Foundation, http://www.taxfoundation.org/news/show/1354.html, 2/8/06)

ANNCR: Higher taxes on your electric bills.

Barack Obama Has 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)

Coal Is The Largest Source Of Electricity In America, Accounting For Nearly 49 Percent Of U.S. Total Net Generation In 2006. (Energy Information Administration Website, www.eia.doe.gov , Accessed 6/9/08)

Natural Gas Is The Second Largest Source Of Electricity In America, Accounting For 20 Percent Of U.S. Total Net Generation In 2006. (Energy Information Administration Website, www.eia.doe.gov , Accessed 6/9/08)

ANNCR: Lots more taxes. Lots more patriots. JOHN MCCAIN: I'm John McCain and I approve this message.

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 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)

Barack Obama Would Raise Social Security (Payroll) Taxes On Families. "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 Has 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)

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)