McCain proposes to tax benefits for the first time in our nation's history!
This is a great series, but it becomes misleading when it leaves out the fact that small businesses will be taxed on the benefit plans they offer their employees. As small businesses already struggle to pay for benefits, how many of them will just decide to cancel their benefit programs altogether?
Furthermore, that tax credit McCain provides - $2500 for individuals, $5000 for families - is laughable. Not only is it less than the average cost for health care on the open market - which is $12,500 for a family of four - but it is not even indexed for inflation and we all know that health care costs have been increasing annually at more than the rate of inflation.
McCain proposes to dump millions of Americans on the open market to purchase their own insurance, with a tax credit for less than it would cost to buy insurance and with no protections for those who have a pre-existing condition. So the effect of his plan is to encourage many small businesses to cancel their benefit plans, while leaving their employees who have an existing illness without insurance for the first time in their lives.
All the while he maintains his taxpayer-funded health care.