John McCain and his propsed tax cuts

New Tax Cuts:
Increase the dependent exemption by two-thirds (phased in by 2016)
Convert Research and Development credit to 10 percent of wages incurred for Research and Development, make permanent

Capitol Gains:
Make permanent current rates on capital gains and dividends, (0 and 15 percent)

Alternative Minimum Tax:
Make permanent current rates on capital gains and dividends, (0 and 15 percent)

Estate Tax:
Make permanent estate tax with $5 million exemption and 15 percent rate

Simplification:
Create optional alternative tax with two rates and larger standard deduction and personal exemption

Revenue Raisers and Tax Havens:
Repeal domestic production activities deduction
Eliminate oil and gas loopholes
Unspecified corporate base broadeners

Health:
Replace exclusion from income for employer sponsored health insurance with refundable credit of $2,500 for individuals and $5,000 for families who purchase qualifying health insurance

Other:
Ban internet and cell phone taxes