I came across this article on HuffPo that to me seemed well reasoned. I'm still attempting to learn more about economics but I think this might be a good summary of tax plans:
McCain will raise taxes, Obama will Raise Income
To summarize what I got out of it, the author simply states that both candidates will raise taxes. The difference is McCain will raise taxes without any increase in government benefits while Obama will raise taxes and increase government benefit. I would like to hear other opinions on this article and get some feedback if it's an accurate way of thinking about the issue.
Thanks all.
I'm no expert either but with two wars, massive bailouts to banks, auto industries and so many others, crumbling infrastructure, not to mention the looming increased demand on state resources from the huge increase in poverty, I don't think either's plans are based in reality.
If they were to state a plan based on the current situation that actually attempted to better out economic situation as a nation (not as a stock market) they would never get elected. In all reality we should be seeing Europe style taxes without the added benefit of Socialist programs.
Just my opinion.