Mc'cain wants to spend 300 billion dollars annually on tax cuts directed basically, to only the very top echelon of earners, dwarfing bush's 85 billion dollar tax cuts and previous tax cuts proposed in the past.
175 billion dollars of the tax cuts will be spent to reduce the corporate tax rate from 35% to 25%, even though the us has one of the most generous tax policies to corporations in the un.
He also wants to repeal the alternative minimum tax, claiming it would help 25 million people. each year congress exempts the middle class from this tax, helping 21 million people, so mccain's proposal will only help 4 million more, and nearly all of them make over 250k a year. He also wants to double dependent exemptions payments, though his plan helps richer families nearly nearly twice as much as the typical us family.
On top of all that, despite spending nearly 300 billion dollars to reduce taxes for the most well off in society he says he can balance the budget by 2013.
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