Obama and Biden voted to raise taxes on working American making just $42,000.
Higher taxes on seniors and their life savings.
Higher taxes on your electric bills.
There are two questionable statements here.
There is no call in Obama’s tax plan to tax life savings, but Obama does have a plan to raise capital gain taxes. The proposal would impact the tax rate on investment accounts, including 401(k) and 403(b) accounts. For families with incomes above $250k, their capital gain tax would raise from 15% to no more than 20%.
Do investment accounts count as “life savings?” We’d call this close, but not a definitive lie though it’s dubious at best to consider an investment, which bears inherent risk, as savings when savings implies no inherent risk.
But McCain’s reference to high electric bill taxes has no basis. They base their claim on an interview with the San Antonio Express-News on February 19, 2008:
GUERRA: Have you considered other funding sources, say taxing emerging energy forms, for example, say a penny per kilowatt hour on wind energy?
OBAMA: Well, that’s clean energy, and we want to drive down the cost of that, not raise it. We need to give them subsidies so they can start developing that. What we ought to tax is dirty energy, like coal and, to a lesser extent, natural gas.
Obama suggested a tax on “dirty energy”, but did not call for any electricity tax. (Neither his formal energy plan or tax plan make reference of any tax for either energy production or consumption, though there is a call for a windfall profit tax which would include oil companies.)
McCain’s campaign is lying when they switch Obama’s conditional statement about taxing energy producers, as a call for taxes on electricity consumption.