Presidential candidates' define their economic platforms
10:01 a.m. Tuesday, July 8, 2008
Due to plane trouble, Barack Obama's economic talk in North Carolina turned into an unexpected stop in St. Louis.
And while McCain didn't have to worry about a safe landing, Monday both senators talked about how they would weather the turbulent economic times ahead.
"A government that spends wisely and balances its budget is a catalyst for economic growth and the creation of good and secure jobs," McCain said.
2008 Presidential candidates
We want you to be informed about the possible choices for president. That's why we've researched where the candidates stand on issues like the Iraq war and gay marriage. Check out the candidate's platforms here.
When it comes to the economy, one is working from the top down, while the other is focused on the middle.
"He trusts that prosperity will trickle down from corporations and the wealthiest few to everyone else. I believe that it's the hard work of middle-class American family that fuels this nation's prosperity," Obama said.
McCain's plan to stimulate the economy? Tax cuts.
"When you raise taxes in a bad economy, you eliminate jobs. I'm not going to let that happen," McCain said.
Obama would let that happen to higher-wage earners. He says he would increase their taxes, but cut taxes for middle and lower income wage earners.
"When I'm president, I'll shut down the corporate loopholes and tax havens, and I'll use the money to help pay for a middle-class tax cut," Obama said.
McCain proposes to lower corporate tax rates from 35 percent to 25 percent, while Obama proposes jump-starting the economy with $50 billion, in additional stimulus for consumers.
Both candidates plan to highlight their economic plans at campaign events throughout the week.
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