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Small Business Owners' Guide to the Election
By: Kent Hoover, Bizjournals
Posted: October 17, 2008
page 4 of 13
Obama also has proposed tax cuts for lower- and middle-income Americans, however, so most small businesses would pay lower taxes under his plan, according to his campaign.
McCain has proposed making the rate cuts adopted during the Bush administration permanent, including the 15 percent rate on capital gains and dividends.
He also proposes reducing the corporate tax rate from 35 percent, which he says is the second-highest rate in the developed world, to 25 percent to make U.S. businesses more competitive
John McCain and Barack Obama would go in opposite directions when it comes to the employer's role in providing health insurance.
McCain's health care plan would encourage individuals to buy insurance on their own. Health benefits provided by employers would be taxed as income. Individuals would receive a $2,500 refundable tax credit ($5,000 for a family) for health insurance premiums. They would be able to purchase any plan offered anywhere in the country.