October 22, 2008
Robert Carroll, Ph.D., Discusses the Presidential Candidates? Tax Plans and Their Failure to do Anything About the National Debt with Columbus Dispatch
"Obama's Tax Plan Socialist? No, but ..."
By Jack Torry
"Both candidates' tax plans do not add up," said Robert Carroll, vice president for economic policy at the Tax Foundation, a nonpartisan research organization in Washington. "Both of them would add trillions of dollars in government debt during the next 10 years."
Obama has said he would allow the 2001 and 2003 tax cuts for families earning $250,000 or more a year to expire on schedule in 2010. Those reductions include taxes on income, capital gains and dividends.
By contrast, McCain wants to extend those tax cuts, reduce the corporate income-tax rate from 35 percent to 25 percent and increase the childhood exemption.
