Saturday, October 4, 2008

McCain's Economic Plan is Better Than Obama's

McCain's economic plan boosts middle class

John McCain's economic plan is designed from the ground up to raise incomes and create jobs for Americans - especially middle-class Americans - and get our economy moving again. It is in sharp contrast to Barack Obama's plan, which does not treat the middle class well and which will reduce jobs rather than create them. Let's compare the plans.

The most worrisome aspect of Obama's economic plan is that he would raise tax rates in a weak economy. I know of no sensible economic theory that says that increasing taxes, or even planning to increase taxes, in a recession is a good idea. Rather, it is flawed economics. Raising taxes could turn a recession into a depression, and would significantly harm middle-class families. No matter how you look at it, McCain's economic plan helps the middle class much more than Obama's.

John B. Taylor is a professor of economics at Stanford University.

Read the entire article at SFGate, home of the online location of the San Francisco Chronicle