The "Ultimate Bridge to Nowhere"?

Sadly, the politics of the Presidential election seem to be degenerating every day that goes by. But I'm a firm believer that substance and policy still matter.

One of the starkest differences out there is the candidates' approach to health care. Lost in the play-by-play commentary about who won last Thursday's debate, I think Joe Biden turned a lot of heads when he described the way that the McCain health care proposal would work.
http://www.crooksandliars.com/2008/10/03/vp-debate-mccains-healthcare-plan-is-the-real-bridge-to-nowhere/

As Biden described it, the plan essentially increases taxes (by taxing health benefits as compensation) while pushing a lot of employers out of the health benefit business, leaving employees to find health care themselves with a $5,000 tax credit. This was news to a lot of viewers and voters. Gov. Palin didn't rebut Biden's basic claim, and I haven't found any commentary that rebuts that this is in fact what McCain is proposing.

Today, Paul Krugman commented on it:
'http://www.nytimes.com/2008/10/06/opinion/06krugman.html?_r=1&hp&oref=slogin

To give a counterview, here's an article by the Cato Institute defending the plan:
http://www.cato.org/pub_display.php?pub_id=9380

I find the proposal to be deeply worrisome. I'd love to hear other thoughts. And if you support the McCain plan, I'd love to hear your thoughts on why you do.

Either way, if McCain is serious about a proposal this dramatic, it's something every voter should know about as they enter the voting booth (or mail in their ballot).

Today is the last day to register in Ohio, by the way.