Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

19 of 22
BACKNEXT
Jobs and Wages
McCain's plan for turning around the economy focuses on corporate tax policy, while Obama would take a more activist role that includes increasing wages and spending on public works.

· Spur economy and job growth by cutting corporate tax rate and temporarily lowering current rates on dividends and capital gains.

· Leave minimum wage at $7.25 an hour, which is where current law will take it to by 2009. Opposed to tying future hikes to inflation rate.

· Create tax credit equal to 10% of wages spent on R&D.

· Consolidate federal unemployment programs and reform training programs for job seekers.

· Temporarily eliminate taxes on unemployment benefits.

"We will build a new system, using the unemployment-insurance taxes to build for each worker a buffer account against a sudden loss of income -- so that in times of need they're not just told to fill out forms and take a number." -- McCain*
· Fund federal workforce training programs and direct these programs to incorporate "green" technologies training.

· Raise minimum wage to $9.50 an hour by 2011 and tie future rises to inflation.

· Double federal funding for basic research and make R&D tax credit permanent.

· Set up $60 billion infrastructure investment bank to help fund public works. Also, create a $25 billion emergency Jobs and Growth Fund to fund other infrastructure projects.

· Establish tax credit for companies that maintain or increase the number of full-time workers in America relative to those outside the U.S.

· Give a temporary tax credit of $3,000 in 2009 and 2010 to companies for each new full-time employee it hires in the United States.

· Temporarily eliminate taxes on unemployment benefits.

· Advocate for stronger unionization.

"We will provide incentives to businesses and consumers to save energy and make buildings more efficient. That's how we're going to create jobs that pay well and can't be outsourced." -- Obama**




NEXT: Wall Street
Last updated October 29 2008: 12:15 PM ET
Source:
*April 15, 2008, Speech, Pittsburgh, Pa.
**June 16, 2008, Speech, Flint, Mich.
More Galleries
Best business class airline lounges around the world Between August 2015 and May 2016, Skytrax surveyed over 19.2 million customers to find the best airline lounges. Here is what they found. More
What Boeing's new 737 Max 9 has under the hood Boeing unveiled its new, longer 737 Max 9 airliner earlier this month, the second member of the updated single-aisle jet family. The first aircraft will deliver to airlines starting in 2018. More
Toy Fair surfaces holograms, robotic animals, dolls for boys The Toy Industry Association's annual fair revealed countless tech-enabled toys -- and some fresh takes on old classics. More

Special Offer