McCain Palin Web Ad: Joe The Plumber VIDEO

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest web ad, entitled "Joe the Plumber." The ad highlights Barack Obama's plans to increase taxes on Americans, even as they seek to build their own small businesses and create jobs. While Barack Obama talks about cutting taxes, his plan is really just a plan to "spread the wealth around" instead of creating new wealth and new opportunity.

Transcript For "Joe The Plumber" (Web :30)

JOHN MCCAIN: I'm John McCain and I approve this message.

ANNCR: Americans are catching...

JOE WURZELBACHER: Your new tax plan is going to tax me more.

BARACK OBAMA: It's not that I want to punish your success. ... I think when you spread the wealth around, it's good for everybody.

ANNCR: Everybody?

Leading papers call Obama's taxes "welfare" ... "government handouts".

Obama raises taxes on seniors, hard working families to give "welfare" to those who pay none.

Just as you suspected, Obama's not truthful on taxes.

AD FACTS: Script For "Joe The Plumber" (Web :30)

JOHN MCCAIN: I'm John McCain and I approve this message. ANNCR: Americans are catching on... JOE WURZELBACHER: Your new tax plan is going to tax me more. BARACK OBAMA: It's not that I want to punish your success. ... I think when you spread the wealth around, it's good for everybody.

Barack Obama: "And I Think When You Spread The Wealth Around, It's Good For Everybody." JOE WURZELBACHER: "I'm a plumber. You know, I work, you know, 10, 12 hours a day. If I buy another truck and add something else to it, and you know, build the company..." OBAMA: "Right." WURZELBACHER: "... you know, I'm getting taxed more and more." OBAMA: "Nobody likes high taxes." WURZELBACHER: "No, not at all." OBAMA: "Right? Of course not. So -- but what's happened is, is that we end up -- we've cut taxes a lot for folks like me who make a lot more than $250,000. We haven't given a break to folks who make less. It's not that I want to punish your success, I just want to make sure that everybody who is behind you, that they've got a chance at success, too. And everybody is so pinched that business is bad for everybody. And I think when you spread the wealth around, it's good for everybody." (FOX News' "On The Record," 10/13/08)

ANNCR: Everybody? Leading papers call Obama's taxes "welfare" ... "government handouts".

The Wall Street Journal Calls Obama's Numerous Refundable Tax Credits "Tens Of Billions Of Dollars In Government Handouts." "For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase 'tax credit.'" (Editorial, "Obama's 95% Illusion," The Wall Street Journal, 10/13/08)

Pittsburgh Tribune-Review: "[T]he One-Third Of All American Working Families Who Pay No Income Taxes Now Will Receive A Government Check Under The Obama Plan. And That Number Could Rise To About 44 Percent Under Obama's Proposal." "The 'tax-cut plan' of Democrat presidential nominee Barack Obama is anything but. In fact, it's nothing more than another liberaled-up wealth-transference program that, in the 'old days,' was known as welfare. ... Just as troubling, however, is this little factoid: Even the one-third of all American working families who pay no income taxes now will receive a government check under the Obama plan. And that number could rise to about 44 percent under Obama's proposal." (Editorial, "Obama's Tax Cut: New Welfare Deal," Pittsburgh Tribune-Review, 10/14/08)

New York Post: "[O]bama's 'Tax Cuts' Really Amount To A Sizable Expansion Of Welfare." "In truth, as The Wall Street Journal detailed yesterday, nearly all of those 'cuts' actually come in the form of 'refundable tax credits,' by which the government in effect writes a check to those who meet certain criteria - even if they don't pay taxes in the first place. In other words, Obama's 'tax cuts' really amount to a sizable expansion of welfare. That leaves American taxpayers to foot the bill - both directly, and through the lost economic opportunity that's sure to follow Obama's promised tax hikes on income, dividends and capital gains." (Editorial, "Ready, Set ... Spend!" New York Post, 10/14/08)

ANNCR: Obama raises taxes on seniors, hard working families to give "welfare" to those who pay none.

Just as you suspected, Obama's not truthful on taxes.

Barack Obama Has Called For Higher Income Taxes, Social Security Taxes, Capital Gains And Dividend Taxes, And Corporate Taxes, As Well As "Massive New Domestic Spending." "Obama's transformation, if you go by his campaign so far, would mean higher income taxes, higher Social Security taxes, higher investment taxes, higher corporate taxes, massive new domestic spending, and a healthcare plan that perhaps could be the next step to a full-scale, single-payer system. Is that what most Americans want, someone who will fulfill a Democratic policy wish list?" (James Pethokoukis, "Barack Hussein Reagan? Ronald Wilson Obama?" U.S. News & World Report's "Capital Commerce" Blog, www.usnews.com, 2/12/08)

Barack Obama Would Raise Capital Gains And Dividend Taxes. "Sen. Obama wants to raise the long-term capital-gains rate for families making more than $250,000 to around 20 percent or somewhat higher but not above the 28 percent level it reached during the Reagan presidency, an Obama economic adviser says. The same rate would apply to most dividend income for these investors." (Tom Herman, "Tax Report Your Tax Bill: How McCain, Obama Differ," The Associated Press, 6/18/08)

Tax Policy Center: Barack Obama Would Raise Taxes On One Out Of Every Three Senior Households. "Even though Senator Obama's plan eliminates individual income taxes for seniors with incomes less than $50,000, his plan would raise taxes for almost 10 million senior households, over a third of the total (not shown in table). On average, seniors would face a tax increase of about 2 percent of income." (Burman et al., "A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans," The Tax Policy Center, 6/11/08)

Tax Foundation: Seniors "Rely Most On The Stable Flow Of Income That Dividends Provide." "Most debate over whether to extend the reduced rates on dividends and capital gains has focused on the tax benefits of these cuts to high-income taxpayers. What has been largely ignored is the impact these tax policies have on corporations' decisions on how best to distribute their income to shareholders--including senior citizens, who rely most on the stable flow of income that dividends provide. A recent Tax Foundation analysis illustrated that a large number of those benefiting from dividends are seniors and those on the verge of retirement (See www.taxfoundation.org). A further analysis of these seniors earning dividends reveals that lower-income seniors who file tax returns depend more heavily on dividend income than high-income seniors." (Gerald Prante, "The Importance Of Dividend Income For Low-Income Seniors," Tax Foundation, http://www.taxfoundation.org/news/show/1354.html, 2/8/06)

Barack Obama Would Raise Income Taxes. Obama: "[I] would roll back the Bush tax cuts for those making over $250,000." (Sen. Barack Obama, CNN Democrat Presidential Candidate Debate, Manchester, NH, 6/3/07)

U.S. Department Of Treasury: Small Business Owners "Are Frequently Subject To The Highest Individual Income Tax Rates." "Changes in the individual income tax affect most businesses in the United States. That is because taxes on business earnings are often paid through the individual income tax when 'passed-through' to business owners. The business income from sole proprietorships, farm proprietorships, partnerships, S corporations, etc., is all taxed at the owners' individual income tax rates. This year 34 million business owners are expected to receive this type of income and pay tax on this income through the individual income tax. These businesses are typically small and often entrepreneurial in nature, and a source of innovation and risk-taking in the economy. Moreover, these business owners are frequently subject to the highest individual income tax rates." ("Topics Related To The President's Tax Relief," U.S. Department Of Treasu ry, http://www.ustreas.gov/press/releases/reports/president_taxrelief_topics_0508.pdf, May 2008)

Barack Obama Would Raise Social Security Taxes. "Obama's proposal ... would impose social security taxes on income above $250,000 per year. He would continue to exempt income between $102,000 and $250,000 from social security taxes." (Teddy Davis, Sunlen Miller, and Gregory Wallace, "Obama Kisses Billions Goodbye," ABC News' "Political Radar" Blog, blogs.abcnews.com, 6/18/08)

Tags: Barack Obama or John McCain and Sarah Palin