From The Wonkroom… McCain Flip-Flops On The Estate Tax
Sen. John McCain, in September 2005:
I follow the course of a great Republican, Teddy Roosevelt, who talked about the malefactors of great wealth and gave us the estate tax. I oppose the rich passing on fortunes.
The estate tax is one of the most unfair tax laws on the books.
McCain also continues to claim that full repeal of the Alternative Minimum Tax will be a tax cut for “25 million middle-class families.” This is false. Compared to existing policy — the comparison McCain always makes when he tallies up the cost of his program — McCain’s proposal will provide a tax break for fewer than 3.6 million taxpayers, and nearly half of them make more than $500,000 a year.