Here are detailed summaries of the platforms for the middle class and small business owners from the 2008 U.S. presidential candidates, along with links for further reading:
Barack Obama (Democratic Party)
Platform:
- Economic Stimulus: Obama proposed a comprehensive plan to address the financial crisis, including a $50 billion economic stimulus to create jobs, support infrastructure projects, and provide aid to states and local governments.
- Middle Class Relief: He advocated for tax cuts for the middle class, including a $500 per person tax credit. He also proposed eliminating income taxes for seniors earning less than $50,000 per year.
- Health Care Reform: Obama sought to provide affordable health care coverage to all Americans, emphasizing the need for universal coverage and addressing the rising costs of medical care.
- Support for Small Businesses: He aimed to eliminate capital gains taxes for small business investors and extend tax write-offs for equipment purchases, fostering innovation and job creation (The Balance) (The American Presidency Project) (Wikipedia) (270toWin.com).
For more details, you can visit The Balance and
The American Presidency Project.
John McCain (Republican Party)
Platform:
- Tax Policy: McCain's economic platform included a proposal to keep Bush-era tax cuts and lower corporate tax rates. He also proposed eliminating the Alternative Minimum Tax, which affects many middle-class families.
- Healthcare: McCain promoted a market-based approach, emphasizing health savings accounts and offering a $2,500 refundable tax credit ($5,000 for families) to offset the cost of insurance.
- Support for Small Businesses: McCain's policies focused on reducing regulation and tax burdens on small businesses to encourage growth and job creation. He also proposed reforming the tax code to make it more favorable for small business owners (The Balance) (Wikipedia).
For further information, you can visit
270toWin and
Wikipedia's 2008 Election Page.
These platforms reflect the candidates' responses to the economic challenges of the time, including the Great Recession and its impact on American families and businesses.