Obama and McCain’s Economic Plans In Detail

While John McCain is mired in message problems about the economy—are the “fundamentals of our economy strong” or are we in “total crisis”—Barack Obama released explicit details about what he’s proposing for the economy. Details below…

$1,000 Tax Cut for Middle Class American Families

Obama and Biden will cut income taxes by $1,000 for working families, because the economy needs to be revitalized from the bottom up, not top down. Read more »

Energy Rebates

Obama and Biden will enact a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills. Read more »

Create Jobs through Fair Trade

Obama and Biden believe that trade with foreign nations should create American jobs, not send them overseas. They will stand firm against agreements that undermine our economic security. Read more »

Create 5 Million Green Jobs

Obama and Biden believe that we should invest in innovation and manufacturing jobs in the growing clean energy market, freeing us from our dependence on foreign oil within a decade and creating 5 million green jobs. Read more »

New Jobs Through National Infrastructure Investment

Obama and Biden believe that rebuilding our highways, bridges, roads, ports, air, and train systems will create jobs, ensure safety, and bolster our long-term competitiveness. Read more »

Technology, Innovation and Creating Jobs

Obama and Biden will increase federal support for research, technology and innovation for companies and universities so that American workers can lead the world in cutting edge jobs and products. Read more »

Support Small Business

Obama and Biden will level the playing field for small business by eliminating all capital gains taxes on start-up and small businesses. Read more »


Obama and Biden will strengthen the ability of workers to organize for good wages, healthcare, and secure pensions. Obama and Biden will fight for passage of the Employee Free Choice Act. Obama and Biden will ensure that labor appointees support workers’ rights and will work to ban the permanent replacement of striking workers. Obama and Biden will also increase the minimum wage and make sure it remains a real wage year over year. Read more »

Protect Homeownership and Crack Down on Mortgage Fraud

Obama and Biden will crack down on fraudulent brokers and lenders. They will make sure homebuyers have honest and complete information about their mortgage options, and they will give a tax credit to all middle-class homeowners. Read more »

Address Predatory Credit Card Practices

Obama and Biden will establish a five-star rating system so that every consumer knows the risk involved in credit card borrowing. They will establish a Credit Card Bill of Rights to stop credit card companies from exploiting consumers with unfair practices. Read more »

Reform Bankruptcy Laws

Obama and Biden will reform our bankruptcy laws to protect working people, to ban executive bonuses for bankrupt companies, and to require disclosure of all pension investments. Read more »

Work/Family Balance

Obama and Biden will help working families by doubling funding for after-school programs, expanding the Family Medical Leave Act. They will provide low-income families with a refundable tax credit to help with their child-care expenses, and encourage flexible work schedules. Read more »

And here is McCain’s full economic plan as well. Packaged well but standard supply-side GOP formula: give the greatest benefits for those with the most, so that their rising tide can raise all ships. He likes to use populist messages to talk about how big government is not the way forward, but government is the only way to clean up the financial mess we’re in—the Treasury and Federal Reserve will step in to normalize using taxpayer dollars until we can find the right regulatory regime to avoid going from one bubble/burst to the next, then we can revert back to the free market.

John McCain wants votes, not a long-term solution, so he will not commit to the short-term, bigger-government pain that’s needed to clean up after him and his deregulation crusaders like Phil Gramm, one of his top economic advisers and one of the key architects of the credit crunch.

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