Since both candidates have been pretty vague about their tax details, and the MSM hasn't done much to help clarify them, here's a good comparison between both. Just click the Dem and Rep boxes:
The Tax Foundation - Candidates 2008
The one I'd pay attention to (and one I've been very unhappy with Bush and Clinton about) is the corporate tax rate. For all those who complain that jobs are moving overseas, a big part of the reason is because it makes more financial sense for domestic companies to move operations outside and for foreign companies to keep operations outside. Look at where we stand just within the OECD (Organisation for Economic Cooperation and Development):
The Tax Foundation - U.S. Corporate Taxes Now 50 Percent Higher than OECD Average
I bet most of you didn't know this. Out of the 30 countries in OECD, the U.S., at 39.25%, ranks
2nd highest (just missing #1 by .29%) in corporate tax rates. We're
50% higher than the OECD average:
That's not including non-OECD countries like, for example, the Cayman Islands that also provide very low tax incentives. McCain has the right idea -- 25% would at least put us back below the average, although still nowhere near Ireland's 12.5%, while Obama hasn't said anything. Last January, China cut its corporate rate from 33% to 25%. That's right,
China has lower rates than us!
If we want more wealth and jobs in America we have to stop punishing companies so severely for setting up operations here.