Economic Policy of Obama and McCain - Essay Example

McCain claims that the country was successful in the development of the 'concept of the internationalization of national economies which required multiple measures to capture it adequately', and for this purpose the country was able to achieve prominent mark in economic indices relevant to 'economic internationalization, the volume of international commercial transactions', the candidate therefore strongly intends to continue with such plan. Democrat presidential candidate has promised that soon after his election he would impose tax cuts on wealthy, and will protect the interests of the middle class.

The presidential candidate also promised appropriate usage of funds extracted through taxes; the funds shall be invested to offer health care, education and housing incentives to the middle class. The presidential candidate for Republican shared the similar belief, but he wanted people from middle class to be placed in higher tax bracket so broaden the scope of tax revenue generation. The presidential candidates Barack Obama and McCain shared difference of opinion towards tax imposition on oil exploration companies.

McCain denied adoption of field specific policy towards imposition of taxes; the bracket for taxes shall be based upon profit earned by the company, and shall not be trade or industry specific. According to Robert (2008) Obama emerged as staunch supported for cut in emission gases, and for that he devised a special taxation policy applicable on oil companies, "this shall cause drop in the momentum of explorations activities undertaken by the oil companies", and shall restrict their revenue generation outlook.

McCain resisted such move, and wanted to adopt non-industry-specific tax policy, which shall be applicable on all and shall be function of revenue generation. Obama protested by claiming that such measure will curtail the investment plans of the companies adopted green technology.Title: Obama, McCain economic policies in spotlight as election approachesAuthor: Motoshige ItohObama has warned that the economic concerns related with the implementation of the globalization has been significant, although in some of the cases the impact has been as per the aspirations of the local traders, but in majority of the American economy has experienced jolts.

Obama has evolved strategy such per which the declination on American exports shall be protected during counter measures and agreement which shall curtail the emergence of China and India as the economic hub for the Asian countries. Itoh (2008) explicitly mentioned that Democrats have expressed their intention to focus much upon the exploring the potential of US manpower and workforce, to improve the employment figure. Democrats have blamed Republicans for their failure on this particular front, and have failed to bring the shares back to its homeland.

However, the corporate sector of the country in consultation with the government of United States have established their industrial units in China and India, therefore the qualitative standards will be certified by the American company but the production will be fabricated