Andre Fields discusses Barack Obama's economic policy

Senators Obama and Biden as it has been proven over the past week have an edge when the discussion turns to matters of economics. The American people have shown a confidence in the tandem to lead America out of the economic despair that we now face.

Obama has some basic ideas for how to address the economic matters of this county:

1. The most prevalent would be providing middle class tax relief. Obama believes that all families making less than $250,000 should get a tax break instead of catering to the wealthy like that of his opponent and the current administration.

2. Senator Obama also believes that we need “fair” trade and not this “free-for-all” trade that has been going on for the last eight years in which we see factories shipping jobs overseas. Obama will provide tax breaks to companies that keep their services here in the United States.

3. Obama believes that we need to invest in our national infrastructure as well. He wants to create a National Infrastructure Reinvestment Bank to oversee this aspect.

4. Most importantly, Senator Obama wants to help small businesses as well. Obama has promised to eliminate the capital gains tax on all start-up and small business to encourage job creation.

While these are a few aspects of what Senator Obama would like to accomplish in terms of the economy, this is not the entire plan. His "Blue Print for Change"" can be found on his Web site to get a more in-depth view of the Senator’s plan to get America moving again as opposed to his opponents offering more of the same.

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Tim Farnsworth discusses John McCain's economic policy

Economic policy is so intrinsically connected to many of the other issues we face that it would take longer than the space given to me to explain the entire web. Therefore, for this first piece I will highlight the driving forces of the economy according to Senator McCain: taxes and spending. Senator McCain's economic policy is one based on lowering taxes for all Americans regardless of income bracket and cutting useless governmental spending.

It is true, Senator McCain wants to carryover the tax-cuts that President Bush made, which lowered the highest tax bracket to 35 percent. However, McCain’s claim that his tax proposal will see a reduction in taxes for everyone, while Senator Obama’s will see a reduction for only some and an increase on others is true (see CNN Money for a break down).

McCain will also reduce the Corporate Tax (“Business Tax”) from 35 percent to 25 percent. Keeping taxes low for everyone, especially business owners, generates incentives for job creation and places America in a competitive position for companies that outsource to other countries (for a side-by-side comparison of the two candidates tax policy go to http://www.taxfoundation.org/candidates08/compare/).

According to McCain’s economic plan, he would place a “spending pause” on all non-essential government programs. This would not include defense and veteran affairs. However, he would reform spending projects within the Department of Defense and save the taxpayers money like he has done through his career (http://www.youtube.com/watch?v=PghAhYgY4GA). This one year pause would be in an effort to evaluate programs and make more long term decisions about spending cuts.

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