Domestic issues Economics Election 2008 McCain Politics

Fun Fact About John McCain #12: He Wants to Tax Your Health Care Benefits

McCain wants to tax my heath care benefits!

Actually true. But wait, there’s more. As people won’t be able to afford individual health insurance plans…

McCain wants to open “up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking…”

An actual quote [PDF]. So – McCain wants to tax my health care benefits provided by my employer – so that my employer will eventually force me to get health care on my own – which will be easier to get because he will be deregulating the health insurance market and removing consumer protections that exist on the state-level – just like we did with banking in the past 10 years. This sounds like a brilliant idea!

Economics Election 2008 McCain Obama Politics

Fun Fact About McCain #6: Deregulation

McCain has been an impassioned deregulator, and thus bears responsibility for the banking crisis we are in now.

Not exactly. While McCain has always voted in favor of deregulation, he has never been impassioned about the economy until the market tanked. As one prudent individual said, “I certainly don’t fault Sen. John McCain for these problems. I do fault the economic philosophy he subscribes to.”