On The Issues: Taxes
On The Issues: Taxes
 |
Barack Obama Raise income taxes on wealthiest and their capital gains and dividends taxes. Raise corporate taxes. $80 billion in tax breaks mainly for poor workers and elderly, including tripling Earned Income Tax Credit for minimum-wage workers and higher credit for larger families. Eliminate tax-filing requirement for older workers making under $50,000. A mortgage-interest credit could be used by lower-income homeowners who do not take the mortgage interest deduction because they do not itemize their taxes. |
 |
John McCain "No new taxes" if elected. Twice opposed Bush's tax cuts, at first because he said they were tilted to the wealthiest, and again because of the unknown costs of Iraq war. Now says those tax cuts, expiring in 2010, should be permanent. Proposes cutting corporate tax rate to 25 percent. Promises to balance budget in first term, says that is unlikely in his first year. |
Source: AP
© 2008