More on the McCain economic plan vs. Obama's

McCain's economic plan:

1. A proposal to lower the tax rate on seniors who tap their IRAs and 401(k)'s after reaching 59-and-a-half years old. Under his proposal, which he estimated would cost the government about $36 billion, the first $50,000 of withdrawals would only be taxed at the 10 percent rate, his aides said.

2. For those who sell stocks at a loss, McCain would increase the amount they can deduct from $3,000 to $15,000, making it less of a burden for those who need immediate cash to survive the economic downturn, his advisers said.

3. Capital gains taxes would be cut in half, McCain said, for two years, from 15 percent to 7.5 percent. His aides said that would cost the federal government about $10 billion, but would provide an incentive to save and invest.

Obama's four point plan :
1.Give businesses a new American jobs tax credit for each new employee they hire here in the United States over the next two years.
Save one million jobs by creating a Jobs and Growth Fund that will provide money to states and local communities so that they can move forward with projects to rebuild and repair our roads, our bridges, and our schools.

2. Allow every family to withdraw up to 15% from their IRA or 401(k) – up to a maximum of $10,000 – without any fine or penalty throughout 2009.

3. A three-month moratorium on foreclosures. Applies to banks and lenders getting money from the rescue plan if homeowners are making a good-faith effort to make their mortgage payments and re-negotiate their mortgages.