October 30, 2008
In a stunning dose of straight-talk to CNN, senior McCain campaign economic policy advisor Douglas Holtz-Eakin admits employer-based coverage is superior than anything you could buy for yourself with McCain’s $5,000 tax credit:
“What [workers] are getting from their employer is way better than what they could get with the credit.”
There’s more from the AFL-CIO Blog:
As Newsweek economics correspondent Jane Bryant Quinn points out, a $5,000 tax credit in the McCain plan falls far short of the cost to replace most workers’ employer-provided coverage, especially for older workers who could face annual premium costs of $12,000 or more.
Just yesterday we told readers about new reports that show McCain’s health plan would cost 608,559 North Carolina residents their coverage – leaving them to find individual insurance on the private market.