Tax plans of Senate Obama and Senator McCain

If you are wondering who has the better tax plan for your wallet, the Tax Policy Center has just released an Updated Analysis of the 2008 Presidential Candidates' Tax Plans. Below is an except from that report.

Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next ten years, according to a newly updated analysis by the nonpartisan Tax Policy Center. Neither candidate?s plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified.

You can read the complete version in pdf and make you own assessment on who has the better tax plan for you.

If you want more analysis of what both Senator Obama and Senator McCain have planned for the American citizens of our great country and how they effect your wallet, then read on.

• Obama and McCain Tax Proposals

According to a new analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, Democrat Barack Obama and Republican John McCain are both proposing tax plans that would result in cuts for most American families.

If you live in North Carolina, I think this piece of information may be of interest to you.

• Voters must closely scrutinize candidates’ economic stance

A report out this week from the N.C. Justice Center provides a sobering account of the economic well- being of typical North Carolina households.
Despite a period of economic expansion that likely ended in 2007, the average North Carolina household is no better off than in it was in 2000. Moreover, the number of people living in poverty rose from 13.1 percent in 2000 to 14.3 in 2007 and the number of people without health insurance jumped from 15.1 percent in 2004-05 to 17.2 percent in 2006-07.

If you are interested what they might be saying in the midwest? Then read this

• Who's best for workers?
  A Labor Day analysis of the two candidates' positions

A presidential election is just two months away. So this Labor Day weekend, rather than reflect on the state of the work force, let's instead consider how working people are likely to fare under several of the policies of the two nominees, Barack Obama and John McCain.

Here are more articles on the tax plans of both candidates.

• FactChecking Obama
  He stuck to the facts, except when he stretched them.
  By Brooks Jackson factcheck.org

• Is History Siding With Obama’s Economic Plan?
  By ALAN S. BLINDER

• John F. McCain by Peter Ferrara

The best components of John McCain's campaign are his tax and budget proposals.

• Half of Americans Believe GOP Spin on Obama's Tax Plan
  By Joshua Holland, AlterNet

Even though Obama says he'll cut taxes for 95 percent of Americans, Gallup records 53 percent thinking he'll raise them.