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The shifting tax implications of McCain's health plan

Wall Street Journal (subscription required), September 29, 2008

John McCain's healthcare plan has been variously described as a huge tax cut, as having no net impact on tax collections, and as a tax increase. McCain's chief policy adviser, Douglas Holtz-Eakin, said that the health plan would cut taxes for most Americans and that the campaign would offset the lost revenue with unspecified reductions in Medicare and other programs. An independent analysis found that tax cuts would cost a total of $1.3 trillion over 10 years, an estimate the campaign neither confirms nor disputes.