The time to choose a new leader for our country is nearly upon us, and as the two candidates, Obama and McCain, continue to debate on the several issues regarding our country’s well-being, we notice several differences in their political views on how our economy should be run. As you probably know, our economy is at rock bottom. The stock market, once a great watermelon, has shriveled up to nothing but a tiny grape, and it has negatively affected our society in a domino effect; a majority of the people in our once glorious nation are now facing foreclosure situations on their homes, with very little money in the bank, if any money at all. Even some banks no longer have money! Well, the time has come for a new president, and with a new president comes new change. And hopefully, that change will send our economy shooting to the stars, as it once was…a very long time ago, or so it seems.
Very recently, the views of each candidate on economy, more specifically tax cuts, reached the eager ears of our society. The beliefs of Obama and McCain turned out to be completely opposite. Both have plans to save our economy, but it’s strange how very different from each other they are. For instance, McCain proposed a 52 Billion Dollar plan to save the economy, while Obama announced a 60 Billion Dollar plan. Obama declared that he wanted to focus primarily on making tax cuts from the normal class people, stating that he wanted to “save the middle class Americans” from debt. McCain announced that he on the other hand wanted to make tax cuts for the upper class Americans. However, he also spoke about how this would allow more small businesses to be opened, thus healing the economy.
“The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.” McCain said in the debate. He believes that if we cut the upper class people’s taxes, we will be permitting those people to “spread the wealth” by pouring their money back into the economy, therefore allowing all kinds of businesses and companies to prosper during these hard times.
In response, Obama stated that “high-income taxpayers would pay more in taxes, while everyone else's tax bill would be reduced. Those who benefit the most - in terms of reducing their taxes as a percentage of after-tax income - are in the lowest income groups.” Obama believes that if we cut the taxes of the less wealthy, we will allow them to prosper and continue their successful lives. He also said this because let’s face it; there are many more middle and lower class people in the nation as opposed to upper class people, and Obama wants to ensure that the majority of our nation is happy with him and his tax cuts. I apologize for tipping the scale more towards McCain, but he, in my opinion, is the ideal candidate in this year’s presidential election. But that’s just me.
So to sum up both of their political views on tax cuts, Obama believes that we should lower taxes for middle and lower class Americans, so more people in America can be successful. McCain believes that we should cut the taxes of upper class Americans, despite the fact that more people in America will be paying high taxes. However, if McCain became president and did this, it would allow more American businesses to flourish, thus allowing the economy to ascend. If Obama became president and did what he said he would regarding taxes, less Americans would be paying high taxes, and he believes that this will allow the economy to rise. In the words of McCain: “Obama wants to take America’s tax money and spread the wealth around America himself. I want to decrease the upper class people’s taxes, thus allowing the more wealthy people to spread the wealth around by themselves.
In my personal opinion, McCain has the better plan for America, but I shan’t get into that in this particular essay. Feel free to challenge me though. I’d be glad to debate anyone on any topic regarding McCain’s plans for tax cuts versus Obama’s.