McCain Throws Kitchen Sink; Obama Ducks

McCain would keep income taxes lower than Obama if Joe the Plumber were to be very successful and made more than $250,000. However, it remains unclear how McCain would better help a small-business owner than Obama.

McCain has proposed no other tax cut for small businesses, according to his Web site. He has proposed cutting the corporate income tax from 35% to 25%, which won't affect most small businesses. McCain's health care plan would provide $5,000 for a family and $2,500 for an individual to purchase insurance, but that falls far short of the cost of a health care plan in America today.

Obama actually has several proposals aimed at helping create jobs by small businesses, including: a tax cut for jobs created by small business, a credit for small businesses to buy insurance for employees, elimination of taxes on start-ups and small businesses, and he has called for a facility to lend to small businesses hurt by the credit crisis.

McCain also attacked Obama's health care plan for penalizing small-business owners. He seemed rather surprised (in a split-screen image) to find out moments later that Obama's health care plan didn't penalize small business at all.

The exchange served as a microcosm for the entire debate. McCain would direct harsh attacks on Obama that misconstrued the record but then offered voters very little explanation of his own policies. The only clear policy McCain stands for would be lower taxes.

Of course, lower taxes have been the hallmark of economic policy for President Bush and every Republican since Ronald Reagan. Therefore, McCain has a difficult time distancing himself from Bush in this campaign. He said:

"Yes. Sen. Obama, I am not President Bush. If you wanted to run against President Bush, you should have run four years ago. I'm going to give a new direction to this economy in this country."