I have been looking at the tax plans for both presidential candidates. I believe that both have good ideas and bad ideas. But it’s fair to say that we really don’t know if either of them will work.

It is true that Barack Obama’s plan is focused more on helping the “common man”, by providing tax relief to middle America - but at what expense?

Will a measly $1,000 a year really make the difference? How are we going to pay for it? The national deficit is growing at an alarming rate and additional tax cuts will just add to it.  This could have long term devastating effects on the economy and the value of the once “almighty dollar”.

On the other hand, John McCain’s tax plan calls for giving big business and the highest earners the larger tax cuts.  The “trickle down economics” of the republican plan doesn’t sit well with most Americans. But let’s be fair - it had worked in the past (some will obviously disagree).

So what is the right course to take on tax reform?  Everyone has ideas, but no one knows for sure.  I believe that giving the middle and lower classes a tax break can help the “psychology” of America.  It can help average folks feel like there is a future - that this economic crisis can be turned around.

The Obama plan calls for promoting and supporting domestic small businesses and that is great for America.  I believe that John McCain feels that same way, but he hasn’t really come across as the savior for the middle class.

I think both candidates agree that Alternative Minimum Tax must be eliminated. The tax reforms of 2001 expire in 2010 and AMT will tax more than 20 million Americans, if it is not changed.

John McCain’s plan calls for cutting the corporate tax rate to 25%, down 10% from the current 35%.  But will that only help big business?

Both candidates agree in health care reform. But again, it will cost trillions, yes trillions of dollars in the long run. Can we afford it - can we afford not to do it?

The bottom line is this: We won’t know what will work until a new president is elected,and the tax plan has time to mature.

I hate to say it - but most Americans want immediate gratification and middle class Americans deserve something to look forward to. The John McCain plan sounds great for big business and the wealthy - but what about the rest of us?

There are plenty of misunderstandings about the Obama Tax Plan. It’s time to lay out the facts and let the voters decide if the tax plan is in the best interest of America.

Before we do, it’s important to note that the Obama plan is all about giving middle and lower class Americans a tax break, which is approximately 95% of all Americans.

The John MCCain tax plan follows the tradition tax plans, giving the highest earners the biggest tax breaks, while providing little support to the middle and lower classes.  We all now this as trickle down economics.  The theory is that giving big business and the highest earners tax breaks, will trickle down to the average Joe, “no, not the average Joe Plumber”.  Bush subscribes to this policy - has it worked?

Here is what the Barack Obama tax plan is proposing:

Raise taxes for those making over $250,000 a year

Let’s be realistic - they can afford it.  Over the past eight years, the highest earners are the ones who have benefited from the Bush plan. They can afford health care, to buy a home, to maintain a home, to go on vacation and not have to worry about making ends meet every month. Even today, they are in much better shape, financially than most of America.

Increase the tax credit for low wage earners:

Barack is proposing to triple the amount of tax cuts for main street Americans. It sounds like a lot but in reality, it will barely be enough for us to get by.  But his plan is going in the right direction.

Here are some comments about the Obama Tax Plan:

Rea Hederman Jr., a senior policy analyst at the conservative Heritage Foundation “said the middle class would likely pay less under Mr. Obama’s plan than Mr. McCain’s.” [NY Sun, 8/15/08]

Obama’s tax calculator is “a very simple gadget that’s the most useful thing I’ve seen on any political website in a while.” [Forbes.com, 10/08]

Cut taxes for the small business owners and those companies that keep jobs in America

How many people do you know have lost their jobs because big business has shipped the jobs overseas?  I, for one, am directly affected by this - and I am still unemployed.  I am angry that the big companies are looking for a profit and forgetting about their employees, some who gave their sweat and blood for 10 - to 20 years, only to be told - get out!

Now, I’m starting my own small business - and I’m excited about the prospects under Barack Obama’s tax plan.  In order to compete globally, America must keep the jobs here and support our small businesses - we are capable of competing with anyone in world!

Here are a few more facts about Obama’s tax plan:

• Cut taxes for 95 percent of workers and their families with a tax cut of $500 for workers or $1,000 for working couples.

• Provide generous tax cuts for low- and middle-income seniors, homeowners, the uninsured, and families sending a child to college or looking to save and accumulate wealth.

• Eliminate capital gains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward investments in innovation.

• Dramatically simplify taxes by consolidating existing tax credits, eliminating the need for millions of senior citizens to file tax forms, and enabling as many as 40 million middle-class Americans to do their own taxes in less than five minutes without an accountant or tax advisor.

Tax Relief For Middle Class Families will include:

• A $1,000 Tax Credit
• A refundable $4,000 American Oppportunity Tax Credit
• A Universal 10% Mortgage Interest Tax Credit
• Elimate Income Taxes for Seniors Making Less than $50,000
• Expand retirement savings incentives
• Health Care Credits
• Expand the Earned Income Tax Credit
• Expanded Tax Credits for Clean Vehicle
• Simplify Tax System

Barack Obama took America by storm tonight. His $3,000,000,000 infomercial may have signaled the end of John McCain’s dream to become Commander-In_Chief of the United States of America.

Obama’s charisma, looks and passion were evident in his 30 minute, prime-time pitch, of why he should be the next president.  His “top-seller” certainly has put the pressure on McCain.  And with only a few days, it may be too late for McCain and his supporters.

I would have loved to be a “fly on the wall”, where ever John McCain was at the time of Obama’s speech. I can even imagine what he was thinking.

It’s unfortunate that a person’s public perception overshadows, hides or even exaggerates what someone is all about. Not to say that Obama represents any of those notions, but Americans are in love with appearance - and Obama’s got it!

Barack’s speech was aimed at showing how he empathizes with the American middle and lower class Americas. Without any reference to his opponent, he painted a picture of how the middle class is taking the punishment of the economic downturn and decisions made by the current Administration. Obama used personal stories of struggling Americans to prove his point that it’s time for a change - time for completely new approach to making America great again. And doing it not by trickle down economics, but a shift in perception that it’s the middle class that makes this country what it is.

Obama talked about how his mom, who fought a battle with breast cancer, dealt with the difficulties she had with her insurance company. The reference was aimed to help viewers understand why his health care reform program is what it is.

Tonight, John McCain seemed a distant memory.  However he talked emphatically how the infomercial was excessive. He pointed out the fact that the infomercial bumped back the World Series on Fox by 15 minutes. “No one will delay the World Series with an infomercial when I’m president,” he said, in Hershey, Pa.

Obama and his advisers shrugged it off.  They made the point that many Americans have over 150 channels and therefore, plenty of other choices.  Or they could play video games.

Is there still a chance for John McCain?  As a true American hero, you can never count him out.  He is a fighter, and he’s been down before.  Whatever the outcome of the election, John McCain is a true America hero, who fought for our freedom and endured capture and torture at the hands of our enemies. Even if John McCain loses - he is still a winner - and a true American - as American as you can get!