Tax Foundation Commentaries: Carroll on McCain Health Credit, Hodge on Corporate Taxes

October 27, 2008

Two op-eds from the Tax Foundation today.

Vice President for Economic Policy Robert Carroll, Ph.D., gives a great explanation of why "Almost Everyone Would Do Better Under the McCain Health Plan" in today's Wall Street Journal. What kind of effect might this proposal have?

"Based on estimates by career economists in the Treasury Department's Office of Tax Analysis of similar proposals discussed in the Washington Beltway several years ago, the McCain health-care tax credit can be expected to increase the number of insured by 15 million and probably more. The Lewin Group, a respected private health-care research outfit, recently estimated that the McCain credit would increase the number of insured by as much as 21 million. It is true that many may no longer get their insurance through their employer, but they will be given the resources to purchase insurance on their own."

President Scott Hodge continues the message of our CompeteUSA campaign, educating the public about our corporate income tax system becoming increasingly out-of-line with the rest of the world in today's Worcester Business Journal. Why isn't there a louder call to reform corporate taxes?

"In this election year, plenty of politicians like to make businesses appear unworthy of any tax relief. But there is a lack of understanding that workers and families ultimately bear the burden of our business taxes. In the form of higher prices, lower wages and poorer return on investment, the federal corporate income tax quietly tapped $3,190 per household. That’s more than the average household spends on restaurant food, gasoline or home electricity in a year."

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