Released on: July 1, 2008, 1:18 pm

Press Release Author: roni deutch tax center

Industry: Financial

Press Release Summary: The Tax Lady Roni Deutch was once again a special guest on
FOX Business Channel\'s Money for Breakfast earlier this week. The topic she
discussed was McCain\'s vs. Obama\'s Tax Plans, in which she compared the candidates\'
tax views to their federal tax returns.

Press Release Body: Roni Deutch made an appearance on FOX Business\'s Money for
Breakfast, analyzing the tax views of presidential hopefuls Sen. John McCain and
Sen. Barack Obama.

Ms. Deutch was interviewed by hostess Alexis Glick, who later commented on the
interview on her own blog. During the interview, Ms. Glick questioned Ms. Deutch on
both candidates\' tax platforms and their federal tax returns.

\"I know that both candidates are smart men,\" claimed Ms. Deutch. \"They each want to
stimulate the economy but their views on how to do so are polar opposites. McCain
says let\'s not raise taxes, let\'s make sure we apply taxes in a different manner.
While Obama says we\'ve got to raise taxes for the wealthy, and lower them for lower
to middle income individuals, and of course seniors. So there are two very different
approaches on how to get this economy going again.\"

When asked about the McCains\' recent federal tax returns, Ms. Deutch explained,
\"their married but they file separately. In 2006, McCain made $338,000, but Cindy
made over $6 million. We are looking at a combined income of approximately $6.3
million and you look at their tax liability. They paid over $1.8 million in taxes
and where were they taxed? Capital gains, interest and dividend income, and a little
in alternative minimum tax. Then we look at how consistent he is with his tax
returns and his tax platforms.\"

On comparing the tax returns of the McCains to the Obamas, Ms. Deutch continued, \"We
are talking about polar opposites. They (Obamas) file jointly and their combined
income was approximately $1 million. They paid about $277,000, which is a pretty
fair tax liability, but when you look at their tax returns what fascinates me as a
tax attorney is that they did not pay any capital gains taxes.

\"The AMT is a disaster tax,\" exclaimed Ms. Deutch in response to being asked about
the candidates views on the Alternative Minimum Tax (AMT). She then explained, \"It
was designed to tax the wealthy that escaped paying taxes through loopholes. But
today it is not actually doing that. Cindy McCain made over $6 million and paid
nothing in AMT, the Obamas made a million dollars and paid nothing in AMT, but John
McCain paid a little bit in AMT. So both candidates want to do something about this
horrible tax. Obama wants to reform it whereas McCain wants to repeal it.\"

\"The McCains paid $1.8 million in taxes and a great deal of that was in capital
gains taxes and interest and dividend income,\" Deutch continued. \"So when we look at
John McCain\'s tax policies it\'s no surprise that he wants to keep that capital gains
tax at 15%. Whereas Obama, on the other hand, he wants to raise that tax rate to 28%
and raise taxes on interest and dividend income to 35%. But guess what, they paid
none of that on their tax return. They paid no capital gains and actually had a
capital loss.\"

Ms. Deutch has consistently blogged on the tax views of the presidential candidates
throughout the election process. Some of the more popular entries include Sen.
Barack Obama: a Deeper Look at his Tax Views, Sen. John McCain: a Deeper Look at his
Tax Views, and Obama & McCain: Tax Views of the Next President. Ms. Deutch strongly
encourages everyone in this country to research the candidate\'s economic and tax
views before heading into the voting booth this November.

Millions of people recognize tax attorney Roni Deutch as The Tax Lady. She has been
helping taxpayers nationwide resolve their tax liabilities for seventeen years. As
an industry leader, she has saved her clients tens of millions of dollars and has
helped thousands of families settle their back taxes. In 2006, Ms. Deutch launched
the Roni Deutch Tax Center® to provide quality income tax preparation services to
help taxpayers avoid back taxes in the first place.


Web Site: http://www.ronideutch.com

Contact Details: Roni Lynn Deutch, A Professional Tax Corporation is a nationally
recognized law firm that has been helping clients find solutions to their back tax
liabilities for seventeen years. To find out more about the firm or its IRS tax
relief services, visit their website at RoniDeutch.com or call 1-888-TAX-LADY. To
learn more about The Tax Lady Roni Deutch you can visit her blog.