Taxes: Who's Offering the Bigger Cut?

Taxes: Who's Offering the Bigger Cut?: "Who's Offering the Bigger Cut?
By: Robb Mandelbaum

Published August 2008
THE CANDIDATES' TAX PLANS AT A GLANCE

John McCain would maintain the Bush tax cuts on income and investment for all tax brackets, and he proposes other measures to lower individual tax bills -- including a drastic retrenchment on the estate tax. He also proposes banning taxes on e-commerce and communication. Corporations would also see a big tax cut, plus credits designed to encourage investment and R&D. But he would also close special-interest loopholes and find other ways to expand the corporate tax base.

Barack Obama proposes a bevy of income tax cuts and credits for middle- and working class individuals, while repealing the Bush tax cuts for the wealthiest Americans and raising other taxes, including on capital gains and dividend income, that largely affect them. Big businesses would find it harder to shelter income in tax havens and lose other loopholes, but start-ups would be exempt from capital gains taxes. All firms would be encouraged to invest in R&D."