Love the penalty-free 401k withdrawal.

Not love the 90 day moratorium on foreclosures.

Mentioning Gordon Brown's quick action only underscores McCain's stumbling.

It boggles my mind that McCain won't talk about the economy. That is the BIGGEST issue.

he is talking about the economy harmony, have you read his recent speeches?

McCain has apparently decided to share a new economic plan tomorrow.

The law of corporate America seems to be survival of the unfittest. In my book, you either do it right or you get eliminated. Greed captures the essence of the evolutionary spirit. It will save this malfunctioning corporation called the USA.

Speeches are on thing CG having a plan is another.

he had a good plan, and now it has to be tweaked, a plan is a plan, people have already made up thier mind who they are voting for, so him waiting isnt a biggie to me

There are two kinds of people in this world. Sheeps and sharks. John McCain is a shark; he doesn't look back, because he doesn't have a neck. Necks are for sheep.

"John McCain is a shark; he doesn't look back, because he doesn't have a neck. Necks are for sheep."

Ahh, Organic. Sometimes you amuse me.

There are only three weeks until the election: McCain's not winning any points for quick thinking.

Mmm, I would love to be able to withdraw from my 401k without penalty. Especially since it's losing value every day anyways.

Hey does that make them (tweakers)?

True Song, you shouldn't TOUCH your retirement plan! Taking money out now would not be a good move.

Oh, I'm a super retirement saver. I wouldn't take anything out if there were any tax penalties. But sometimes I think I get a little overzealous and put more into retirement than I can afford. So I carry a small balance on my credit card until the end of the month or so. It would just be nice for it to be more flexible.

Obama is all words. That's it. His blatant out and out lie about how only a small percentage of small businesses make over $250K gross a year is absurd. In my small business group alone here, there isn't one who makes under that. He is going to tax the hell out of us and you are all going to vote him in because you believe everything he says.

That was awesome GS. Awesome to the max.

lol, thanks. This small business taxing is going to hurt my friends, my husband and my small businesses. And someone who as recently as last year voted to raise taxes for people making only $42K a year doesn't have my faith that he isn't going to do it again. And voting over 90 times for tax hikes? No thanks. Why does anyone believe that he is suddenly going to shift gears?

I was confused when I heard that during the debate. Does he mean gross? Net? Just the salary that the owners take? And what's the definition of small business? I work for a company that employs less than 50 people, but I know we take in multiple millions annually. Does that count?

Exactly. He isn't saying the specifics. There was a list released the other day that has the break down of small businesses in different industries and there weren't any making that small of amount. That number seems to fit only those working out of the house doing ebay or something.

GS, if you count every procedural vote that McCain does when he says Obama voted to "raise taxes" over 90 times, then McCain has voted 477 times to raise taxes.

I don't think he's going to "shift gears." I think he didn't do that in the first place.

I know that under Obama's plan, household incomes under 250k won't see a tax increase. I hadn't heard that figure in connection to small businesses. Hmm... Gonna have to look into that.

GS where did you get that figure in connection with small businesses? I just looked over the Obama tax plan located here: http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINAL.pdf and I didn't see that. Only income of 250k nothing about businesses that gross 250k. In fact, it says he is going to give small businesses tax credits for health care and eliminate the capital gains taxes.

Kas, he said it during the debate. I don't know where else.

Oh okay. Thanks, True.

Tax credits increased the cost of healthcare to begin with.

The transcript is here: http://www.cnn.com/2008/POLITICS/10/07/presidential.debate.transcript/in...

But here's the line that everyone is talking about:
So let's be clear about my tax plan and Sen. McCain's, because we're not going to be able to deal with entitlements unless we understand the revenues coming in. I want to provide a tax cut for 95 percent of Americans, 95 percent.

If you make less than a quarter of a million dollars a year, you will not see a single dime of your taxes go up. If you make $200,000 a year or less, your taxes will go down.

Now, Sen. McCain talks about small businesses. Only a few percent of small businesses make more than $250,000 a year. So the vast majority of small businesses would get a tax cut under my plan.

And we provide a 50 percent tax credit so that they can buy health insurance for their workers, because there are an awful lot of small businesses that I meet across America that want to do right by their workers but they just can't afford it. Some small business owners, a lot of them, can't even afford health insurance for themselves.

I would call the campaign and ask if you want to know for sure.

Promises, promises, promises. I don't believe anything either one of them is saying right now. They can promise what they like but reality is going to hit them smack in the face when they take over the office and have to deal with the actual economic mess.

" And someone who as recently as last year voted to raise taxes for people making only $42K a year doesn't have my faith that he isn't going to do it again. And voting over 90 times for tax hikes? No thanks"

GS, it seems as if you are listening to McCain's talking points and not basing your opinion off of Obama's actual plans.

I will post links in a minute, but here is a quote from Factcheck:
We've already reported on at least three other ads, in both Spanish and English, from Sen. John McCain's campaign that distort his rival's tax policy. The ads claim that, for example, Democratic Sen. Barack Obama would raise taxes "on the sale of your home" and that he has a "history of raising taxes" and that he wanted to raise taxes on "families" making just $42,000 a year.

Claims like these have led us to say that McCain's campaign is engaging in a "pattern of deceit" when it comes to describing Obama's tax plan. This most recent ad fits right into the template.

True, Le E, but look at their advisors. McCain had Phil Gramm, while Obama has the best economic mind on the planet right now, Warren Buffet, on his team. I also think that the proposals from Obama's camp have been far more pragmatic, where as McCain's ideas like the Gas Tax falter under scrutiny.

http://www.factcheck.org/elections-2008/more_tax_deceptions.html

Here is a group of them.

And he has the Clintons -- and I remember what life was like during that era!

that isnt true about most small businesses making more than 250,000 a year.

Do most small businesses make less than 250k a year, CG?

A couple very close to me owns a small business and they make less than 250K a year. Point being, if you own a small business and are making more than 250K a year then you can afford to pay slightly higher taxes while the middle class and those making under 250K get a tax break.

i think that the thing that would resonate well with people is the 90 day good faith piece, although i don't know if that will really take away a lot of the stresses to people who are in the precarious position of not being able to afford their mortgage payment. i kind of want to learn more about how they are thinking about cutting the principle for a lot of folks mortgages since that would impact me.

as for the 401(k) no penalty piece - i think that a lot of people are left w/o a choice but to dip into it, so it's a smart move to at least make it available for them based on their contribution rather than take even more of their $$ away.

I can't lie. The allowing people to take money out of their 401K's penalty free makes me very nervous. It only seems to be a temporary fix. There just seems like there should be a better way.

CG, it is true if you look at the parameters for businesses in separate industries to be declared small business. There is actually only a fraction that make below that. That is the true small, small, mostly part time small business. I only have one employee, myself, ergo, small business. My husband has five, small business. We both gross over $250K. Doesn't get much smaller in terms of business. Farms and logging, for example, can make up to 12 million and still be declared small business. And to those saying if we make over that we can automatically afford to pay more taxes for the middle class. We are the middle class. It is awful presumptuous of you to tell someone what they can afford. We pay our household bills, business bills, salaries to employees, benefits to employees, all insurances involved, etc. Don't talk about things you have no grasp on.

And Jill, again, there is no reason to be condescending. I may not spend 24 hours a day on the McCain website copy pasting things on here, but that doesn't mean that I get all my information on political ads. In fact, in Texas, they aren't really being run.

And audrey, that seems like a disaster waiting to happen to me as well.

"Don't talk about things you have no grasp on"

"...there is no need to be condescending."

Sorry, "...there is no reason to be condescending."

My copy and paste is on strike today, so I have to hand copy.

It isn't condescending to think that someone who says a business that makes a over 250K automatically can afford to pay more taxes, has absolutely no concept of business.

Well, that's one take.

Please do tell another one.

Another take on assuming any business, no circumstances known, can afford higher taxes?

I meant one take on whether telling someone not to speak about something is condescending, or telling someone they have no grasp on it. Perhaps whether this is polite conversation varies regionally?

And of everyone on this site, I would choose you TS for manner and politeness teachings.

I'm a Miss Manners devotee, myself. Judith Martin can do no wrong in my eyes.

I know, it is incredibly obvious.