Out of Egypt:

looking for a nonpartisan analysis of the candidates' tax policies?

Check out the updated report from the Tax Policy Center/Brookings Institute (PDF).

Key quote: "The two candidates' tax plans would have sharply different distributional effects...McCain's reduced individual and corporate rates could improve economic efficiency and increase domestic investment, but the larger future deficits would reduce and might completely negate any positive effect. In contrast, Senator Obama's proposed new tax credits could encourage desirable behavior, particularly if the childless EITC and payroll tax rebate encourage additional labor supply among childless low-income individuals. However, he would also direct new subsidies at an already favored group - seniors - and an already favored activity - homeownership - which could probably be directed elsewhere."

I'm encouraged to see that this is in accord with my own earlier analysis. I'm discouraged to see that the candidates aren't proposing something better.

This is also notable: "In several important ways, the candidates' speeches and web sites differ from the plans as we've outlined them above, and, in several cases, descriptions of proposals provided by campaign advisors strike us as implausible."

No surprises there.

Bottom line: "Senator Obama's plan would add $3.4 trillion to the national debt (including additional interest costs) while Senator McCain's plan would add $5.0 trillion. This does not include the cost of expanding health insurance coverage and assumes that Senator McCain's proposals phase in and phase out on schedule."

I like the way they describe this as "mortgaging the future." And we've all seen what happens with mortgages lately.

I hope they may be possibilities to change in the aspect of poverty and economic growth retarded. Many of us now hoping for the change and the Economic stability of the country that the said vote of the American citizen will be valuable to all and most especially hoping that the said Presidential is deserving for the welfare of the rest.
American people truly deliberated on the current issues before casting their vote in the November 4th election. It would be nice to believe that most of you did, but in actuality, I know that many of the people�s political choices are less than studied. I�m sure some have studied more whether to take out a payday advance than what the issues are in the election. For instance, check out �The Howard Stern Show� and listen to this brief audio clip that was recently posted. Roving Reporter Sal roamed the streets in Harlem, New York to acquire opinions from men and women, determining whether they supported Barack Obama or John McCain as President. In actuality, the purpose was to determine whether African-Americans would automatically vote for Obama simply because he�s black. By taking McCain�s policies and disguising it as Obama�s, Sal discovered shocking responds. He discussed issues like the pro-life argument, stem cell research, the war in Iraq and who Sarah Palin is � placing McCain�s positions to Obama's. He gets many of them to admit they support Obama regardless of what his policies are. This activity has really exposed the ugly truth of some of our ignorance of the issues. I just hope that people really thought about the real problems when casting their vote for the presidential election.

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Posted by: Lisa P at November 12, 2008 2:30 AM