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Where McCain and Obama Stand on Economic Issues

From taxes to gas prices, this is what the presidential candidates believe

By James Pethokoukis

Posted July 25, 2008

Obama	McCain
Taxes
"It is true that I would roll back the Bush tax cuts on the wealthiest Americans back to the level they were under Bill Clinton, when I don't remember rich people feeling oppressed." Obama would also give a $1,000 tax credit to working families.	"Jobs are the most important thing our economy creates. When you raise taxes in a bad economy, you eliminate jobs. I'm not going to let that happen." McCain wants to make the Bush tax cuts permanent, cut corporate taxes, and repeal the alternative minimum tax.
Spending
"We are not going to be able to dig ourselves out of that hole in one or two years. But if we can get on a path of sustained growth...then I think we can return to a path of a balanced budget." Obama would reinstate pay-as-you-go federal budget rules.	"A government that spends wisely and balances its budget is a catalyst for economic growth and the creation of good and secure jobs." McCain plans to balance the budget in four years by cutting the growth of discretionary domestic spending and eliminating earmarks.
Energy Prices
"When you look down the road five years from now or 10 years from now, do you want to see an America that's begging dictators for more oil that we can't afford?" Obama proposes investing $150 billion over 10 years in green technologies. He would also create a clean-energy venture capital fund.	"If we don't act now to break our strategic dependence on foreign oil, we are putting...our economy...at grave risk." McCain proposes more domestic oil drilling, building 45 nuclear power plants, and investing $2 billion a year to develop clean-coal technology.

Obama

McCain

Taxes

"It is true that I would roll back the Bush tax cuts on the wealthiest Americans back to the level they were under Bill Clinton, when I don't remember rich people feeling oppressed."

Obama would also give a $1,000 tax credit to working families.

"Jobs are the most important thing our economy creates. When you raise taxes in a bad economy, you eliminate jobs. I'm not going to let that happen."

McCain wants to make the Bush tax cuts permanent, cut corporate taxes, and repeal the alternative minimum tax.

Spending

"We are not going to be able to dig ourselves out of that hole in one or two years. But if we can get on a path of sustained growth...then I think we can return to a path of a balanced budget."

Obama would reinstate pay-as-you-go federal budget rules.

"A government that spends wisely and balances its budget is a catalyst for economic growth and the creation of good and secure jobs."

McCain plans to balance the budget in four years by cutting the growth of discretionary domestic spending and eliminating earmarks.

Energy Prices

"When you look down the road five years from now or 10 years from now, do you want to see an America that's begging dictators for more oil that we can't afford?"

Obama proposes investing $150 billion over 10 years in green technologies. He would also create a clean-energy venture capital fund.

"If we don't act now to break our strategic dependence on foreign oil, we are putting...our economy...at grave risk."

McCain proposes more domestic oil drilling, building 45 nuclear power plants, and investing $2 billion a year to develop clean-coal technology.

Tags: economy | presidential election 2008 | Barack Obama | John McCain

Reader Comments

mccain

i am in an advanced langue arts class in 7th grade and we are doing a persuasive essay on who people should vote for and i say McCian. I balieve he is doing the right thing with the war that is going on right ow. he has been in war he should know a little bit at least a bout what to do but i f people have any other info that i can use in my essay please give it to me

of
Nov 02, 2008 13:31:14 PM [permalink] [report comment]

The Racial Aspect of it All

My name is Kaci and I'm a senior in high school in Brooklyn, New York. Now, yes, I am an Obama fan, but I've been noticing some things in my school. *No Racism* Most of my school is African-Americans. And I have not ONCE heard any one of the black people say they support McCain. So I just wanna know...how many people are voting Obama because he's black, and how many are voting becuase they agree with his views on the important issues? I'm 18 years old and on November 4th, I'm voting Obama because I agree with him taking troops out of Iraq (since they were never the terrorist problem anyway) and his want for guaranteed healthcare eligibility. And I don't want anybody thinkin I'm just some snotty little white girl that's just tryna start some problems wif sumbody cuz I'm not. I'm a headstrong, proud Dominican and if uu got suttin too say...hit meh up on mah celly. 570-447-9328.<33 Ducesz.

Kaci Gessel Molina of NY
Oct 28, 2008 19:10:39 PM [permalink] [report comment]

Hmm...

We are doing a project for our Social Studies class. We are to create an ad for or against one candidate- McCain or Obama.

I don't much care for either of them, because I agree and disagree with both parties.

How will Obama pay for all of these programs? Just raise taxes on the wealthy and that's all?

McCain seems as if he is covering his own back by not raising taxes at all. How will we pay for the war that is costing the U.S. over $5 billion and rising?

I don't know how the U.S. will be able to rise out of this hole that has been dug, but I hope the candidates will both try to figure out some way.

Our group is doing an ad against McCain, as much as I don't like it. Everyone is raising up good things about Obama, so I wanted to give McCain at least one good ad. Poor guy.

Oh well.

-Heather, 14

Heather of MO
Oct 27, 2008 21:14:27 PM [permalink] [report comment]

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