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Press Release - McCain-Palin Launches New TV Ad: "Dome"

September 18, 2008

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest television ad, entitled "Dome." The ad highlights Barack Obama's support for increased federal spending that will only lead to an expansion in the size of government. To pay for it, Barack Obama will have to, and promises to, raise taxes that American families just cannot afford. The ad will be televised nationally.

VIEW THE AD HERE: http://www.youtube.com/watch?v=kjvzyFyMO-k

Script For "Dome" (TV :30)

ANNCR: When our economy's in crisis, a big government casts a big shadow on us all.

Obama and his liberal Congressional allies want a massive government, billions in spending increases, wasteful pork.

And, we would pay -- painful income taxes, skyrocketing taxes on life savings, electricity and home heating oil.

Can your family afford that?

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

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

ANNCR: When our economy's in crisis, a big government casts a big shadow on us all. Obama and his liberal Congressional allies want a massive government, billions in spending increases, wasteful pork.

If Barack Obama Could Enact All Of His Campaign Proposals, Taxpayers Would Be Faced With Financing Over $860 Billion In New Spending Over One White House Term. (Barack Obama's Spending Proposals: http://www.barackobama.com/index.php, Accessed 8/19/08)

Chicago Tribune: Barack Obama Hasn't Been Talking About Balancing The Budget And "Has A Full Plate Of Spending Initiatives." "Obama's campaign on Monday scoffed at the McCain proposals. But Obama hasn't been talking boldly about the certain path to a balanced budget. He promises to cut taxes for most Americans ... and he has a full plate of spending initiatives." (Editorial, "Failure Of Nerve," Chicago Tribune, 7/8/08)

The National Journal's John Maggs: "[Obama] Has Rhetorically Committed To A 'Pay-As-You-Go' Approach By Offsetting New Spending And Tax Cuts With New Taxes Or Spending Cuts, But His Proposals Do Not Come Close To Meeting This Standard." (John Maggs, "Obama On The Economy," The National Journal, 5/31/08)

Los Angeles Times: Barack Obama "Has Not Identified New Revenue Sources Or Spending Cuts To Pay For Some Of" His Proposals. "The Obama campaign responds that tax cuts, once enacted, are usually renewed and do not expire. Therefore, they say, Obama can legitimately claim to be recouping money for other purposes by scaling back the tax cuts. Obama has not identified new revenue sources or spending cuts to pay for some of what he wants to do." (Peter Nicholas, "Adding Up The Cost Of Obama's Agenda," Los Angeles Times, 7/8/08)

Barack Obama: "I Do Not Make A Promise That We Can Reduce [The Budget Deficit] By 2013." "'I do not make a promise that we can reduce it by 2013 because I think it is important for us to make some critical investments right now in America's families,' Obama told reporters this week when asked if he'd match McCain's pledge." (Nedra Pickler, "Analysis: Obama Won't Try For McCain's Budget Goal," The Associated Press, 7/8/08)

Chicago Tribune: Barack Obama Has "No Interest In Eliminating Deficit Spending." "Since winning the nomination, Obama reportedly has been moving toward the middle of the political spectrum. But on the budget, he still sounds left of center, with no interest in eliminating deficit spending." (Editorial, "Failure Of Nerve," Chicago Tribune, 7/8/08)

The Associated Press:Barack Obama Not "Even Trying" To Balance The Budget And "Frankly Says He's Not Sure He'd Bring It Down At All In Four Years." "Barack Obama says John McCain's plan to balance the budget doesn't add up. Easy for him to say: It's not a goal he's even trying to reach. Not only does Obama say he won't eliminate the deficit in his first term, as McCain aims to do, he frankly says he's not sure he'd bring it down at all in four years, considering his own spending plans." (Nedra Pickler, "Analysis: Obama Won't Try For McCain's Budget Goal," The Associated Press, 7/8/08)

ANNCR: And, we would pay painful income taxes, skyrocketing taxes on life savings, electricity and home heating oil. Can your family afford that? 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)

The New York Times' David Brooks Said For Barack Obama To Fund His Domestic Programs, He Will Have To Break His Pledge Not To Tax The Middle Class. "Both [Obama and Clinton] promised to not raise taxes on those making less than $200,000 or $250,000 a year. They both just emasculated their domestic programs. Returning the rich to their Clinton-era tax rates will yield, at best, $40 billion a year in revenue. It's impossible to fund a health care plan, let alone anything else, with that kind of money. The consequences are clear: if elected they will have to break their pledge, and thus destroy their credibility, or run a minimalist administration." (David Brooks, Op-Ed, "No Whining About The Media," The New York Times, 4/16/08)

Investor's Business Daily: Barack Obama Would Have To Tax Middle Class Taxpayers To Fund His Billions In New Spending. "Obama's spending agenda -- exceeding $307 billion a year dwarfs that of Bill Clinton a decade and a half ago. And he would be sure to run into the same immovable mathematical obstacle faced by the last Democratic president. Taxing the handful of CEOs and other fat cats won't be enough. The big money Obama wants will have to come from the many millions of middle-class taxpayers." (Editorial, "Only CEOs Need Fear," Investor's Business Daily, 5/9/08)

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)

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..., May 2008)

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 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 shareholdersincluding 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 dividend i ncome 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 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 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)

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)

The Washington Post: Barack Obama's Tax On Oil Companies Will Only Lead To "Higher Prices At The Pump." "But to add a five-year tax increase on top of that to pay for a one-year gift to voters would, indeed, increase the cost of doing business. That cost would be passed along in forgone investment in new production, lower dividends for pension funds and other shareholders, and higher prices at the pump -- thus socking it to the consumers whom the plan is supposed to help. If oil prices fall, there might be no windfall profits to tax. Then the Obama rebate would have to be paid for through spending cuts, taxes on something else or borrowing." (Editorial, "Tapping Tired Wells," The Washington Post, 8/6/08)

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)

John McCain, Press Release - McCain-Palin Launches New TV Ad: "Dome" Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/292050

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