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McCain Offers Economic Plan: More Tax Cuts

By Jeralyn

Sen. John McCain unveiled his new economic plan today. The chief points: A proposal to lower the tax rate on seniors who tap their IRAs and 401(k)'s after reaching 59-and-a-half years old. Under his proposal, which he estimated would cost the government about $36 billion, the first $50,000 of withdrawals would only be taxed at the 10 percent rate, his aides said. For those who sell stocks at a loss, McCain would increase the amount they can deduct from $3,000 to $15,000, making i read more

Full post as published by TalkLeft on October 14, 2008 (boomark / email).