The New Republic has the story – or rather stories.
The three faces phases of McCain’s healthcare proposal.
Take I: First McCain said he would elimine the entire tax deduction for health insurance, in order to pay for his new tax credit. This would have paid for itself, but it would have done so by raising taxes on a lot of people.
Take II: Then McCain decided he was keeping part of the deduction after all. While he would be raising taxes on a very few people, he’d be lowering them for most. Of course, that would also have meant running much bigger deficits.
Take III: Now McCain is saying, no, no, he’s not going to increase the deficit with his health care plan. Instead, he’s going to pay for it by cutting Medicare and Medicaid–which, at the levels he’s discussing, might seriously weaken the program.
Wonder if McCain is ready to write off the over 60 vote, which, by the way, is the only age demographic he has left. Guess he’s writing off Florida as well.