McCain Campaign Press Release - McCain-Palin 2008 Launches New Television Ad: "Compare"

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest television ad, entitled "Compare." The ad highlights the clear choice Americans have at the polls this year. For higher taxes, policies that spread the wealth around, increased government spending and pain for small business, Barack Obama is the clear choice in this election. For policies that promote economic growth, help working Americans, lower taxes and eliminates government waste, the choice is John McCain. The ad will be televised in key states.

VIEW THE AD HERE: http://www.youtube.com/watch?v=Kft4l9nw4zc

Script For "Compare" (TV :30)

ANNCR: Your choice...

For higher taxes ... for workin' Joe's.

Spread your income ... keep what's yours.

A trillion in new spending ... freeze spending, eliminate waste.

Pain for small business ... economic growth.

Risky ... proven.

For a stronger America, McCain.

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

AD FACTS: Script For "Compare" (TV :30)

ANNCR: Your choice... For higher taxes ... for workin' Joe's.

• 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. Obama wants 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, Obama Differ," 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)

• 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)

• 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_0508.pdf, 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)

ANNCR: Spread your income ... keep what's yours.

• Barack Obama: "I Think When You Spread The Wealth Around, It's Good For Everybody." JOE WURZELBACHER: "I'm a plumber. You know, I work, you know, 10, 12 hours a day. If I buy another truck and add something else to it, and you know, build the company..." OBAMA: "Right." WURZELBACHER: "... you know, I'm getting taxed more and more." OBAMA: "Nobody likes high taxes." WURZELBACHER: "No, not at all." OBAMA: "Right? Of course not. So -- but what's happened is, is that we end up -- we've cut taxes a lot for folks like me who make a lot more than $250,000. We haven't given a break to folks who make less. It's not that I want to punish your success, I just want to make sure that everybody who is behind you, that they've got a chance at success, too. And everybody is so pinched that business is bad for everybody. And I think when you spread the wealth around, it's good for everybody." (Barack Obama, Remarks, Toledo, OH, 10/12/08)

• In 2001, Barack Obama Said One Of The "Tragedies" Of The Civil Rights Movement Was That It Did Not Bring About "Redistributive Change." OBAMA: "You know if you look at the victories and the failures of the Civil Rights movement and its litigation strategy in the Court, I think where it succeeded was to invest formal rights in previously dispossessed peoples so that I would now have the right to vote, I would now be able to sit at the lunch counter and order in as long as I could pay for it I would be okay. But the Supreme Court never ventured into the issues of redistribution of wealth and sort of more basic issues of political and economic justice in this society. And to that extent as radical as I think people try to characterize the Warren Court, it wasn't that radical. It didn't break free from the essential constraints that were placed by the Founding Fathers in the Constitution, at least as its been interpreted and the Warren Cou rt interpreted it in the same way that generally the Constitution is a charter of negative liberties, says what the states can't do to you, says what the federal government can't do to you, but it doesn't say what the federal government or the state government must do on your behalf and that hasn't shifted. And one of the I think the tragedies of the Civil Rights movement was because the Civil Rights movement became so court focused I think that there was a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalitions of power through which you bring about redistributive change and in some ways we still suffer from that." (Barack Obama, Interview With WBEZ Chicago, 2001)

ANNCR: A trillion in new spending ... freeze spending, eliminate waste. Pain for small business ... economic growth. Risky ... proven. For a stronger America, McCain. JOHN MCCAIN: I'm John McCain and I approve this message.

• If Barack Obama Could Enact All Of His Campaign Proposals, Taxpayers Would Be Faced With Financing Over $1 Trillion In New Spending Over One White House Term. (Barack Obama's Spending Proposals: http://www.barackobama.com/index.php, Accessed 10/19/08)

• Investor's Business Daily Said Under An Obama Administration There Would Be "Nearly $1 Trillion" In New Spending. "Absent enormous cuts in government spending -- and Barack Obama alone promises new spending of nearly $1 trillion -- there will be no hope of anything resembling a balanced budget." (Editorial, "A Bad Scenario," Investor's Business Daily, 2/28/08)

• PolitiFact Discredits Obama's Claim That His Proposals Are Paid For; Says His Rhetoric Is "Disingenuous." "Until he fleshes out his economic plan considerably more, it's disingenuous to go around claiming his proposals are 'paid for.' And that claim is even more suspect considering that his proposals would leave a larger deficit than would the tax laws currently on the books. We find his claim to be Barely True." ("'Paid For' Without Real Money," St. Petersburg Times' "PolitiFact.com," www.politifact.com, 6/16/08)