McCain's economics makes things worse

Republican economic mantra is lower taxes will increase government revenues by creating more economic growth.

This has never happened. It has been tried twice, with Reagan and Bush.

The reality of John McCain's plan is an increased national debt, again historically proven.

Since a large number of Americans are in financial straits, a tax increase is a serious issue.

Retiring the national debt or balancing the budget is impossible without drastic cuts in services, which will not improve the economy but only make life harder for a majority of Americans.

McCain proposes to increase tax exemption for children. If you have children, you get something; otherwise nothing. This will increase the deficit.

McCain will cut the corporate tax rate to try to keep American companies on shore. This will not keep companies on shore because the tax savings is minuscule compared to the operating cost savings of using cheap foreign labor.

Since most corporations do not pay any taxes due to loopholes, it is a ridiculous plan. Those that are paying taxes domestically will pay less thus increasing the deficit.

Obama's plan to cut taxes for the middle class, will be offset by repealing Bush's tax cuts for the wealthy.

Obama will eliminate tax loopholes for companies operating offshore.

This will have far-reaching effects including reducing the deficit.

Obama's plan to close tax loopholes for companies operating offshore would recapture revenues, decrease the deficit, and potentially fund new programs.

McCain's grand economic plan is to increase an out of control national deficit without any material increase in services to Americans.

Obama's plan balances a modest tax break for the middle class with an upper income tax increase and closure of cooperate tax loopholes.

National debt will not increase but decrease.

Neil Hall

Prospect Heights