• McCain wants to make the Bush tax cuts of 2001 and 2003 permanent, and has
proposed a few more of his own. 

• McCain supports a simplified income tax system with two rates and a generous
standard deduction.

• He wants to double the deduction for dependents to $7,000 to help those
raising families.

• McCain proposed suspending the federal gas tax during the 2008 summer.

• McCain advocates phasing out the alternative minimum tax, which threatens to
group millions of middle class taxpayers together with the wealthy taxpayers.

• He would reform estate taxation.

• McCain would forbid Internet and cell phone taxes.

• Obama wants to allow the Bush tax cuts of 2001 and 2003 to expire as scheduled
for Americans earning more than $250,000 a year. 

• He would raise taxes on capital gains and dividends and give tax breaks for
low and middle-income Americans.

• He proposes a $500 per person or $1,000 per family payroll tax credit for
middle class taxpayers.

• Obama opposed the suspension of the federal gas tax during the 2008 summer.

• He supports a universal mortgage tax credit of 10 percent. 

• Obama advocates the elimination of income taxes for seniors making less than
$50,000 and would simplify their tax filing process.

• He wants to close corporate tax loopholes and end deductions for industries
such as oil and gas.

• He plans to introduce tax penalties for US companies that keep their profits
overseas.