McCain paints Obama as big-time taxer

WASHINGTON, June 10 (UPI) -- Presumptive Republican U.S. presidential nominee Sen. John McCain, R-Ariz., Tuesday painted Democrat Barack Obama as favoring higher taxes across the board.

Speaking at the National Federation of Independent Business & eBay 2008 National Small Business Summit in Washington, McCain said the likely Democratic presidential nominee would raise taxes on businesses, and increase taxes on dividends and capital gains.

"Under Senator Obama's tax plan, Americans of every background would see their taxes rise -- seniors, parents, small business owners, and just about everyone who has even a modest investment in the market," McCain said.

Obama also would reconsider a unilateral re-negotiation of NAFTA, which McCain said accounts for 33 percent of U.S. exports. The estate tax is another area of disagreement, with McCain saying Obama, D-Ill., proposes to increase to a top rate of 55 percent.

"As president, I intend to act quickly and decisively to promote growth and opportunity," McCain said. "I intend to keep the current low income and investment tax rates. And I will pursue tax reform that supports the wage-earners and job creators who make this economy run, and help them to succeed in a global economy."