On October 13, 2008, Obama debuted his "economic rescue plan," wherein he states that, "It's a plan that begins with one word that's on everyone's mind, and it's easy to spell: J-O-B-S."  However, along with his promise of "five-million new green jobs", he has clearly set unrealistic goals and expectations.  It is unrealistic to expect businesses to create any type of new J-O-B-S with higher T-A-X-E-S.

This is an economic fundamental that Obama clearly does not understand.  Moreover, this is an absolute fundamental difference between Obama and John McCain.

Under Obama, all businesses including small businesses, being more than a sole proprietorship, will see a relatively large increase in T-A-X-E-S.  With an increase in T-A-X-E-S, businesses will have less spendable monetary funds and will thus be forced to cut spending on many things like J-O-B-S.  Unlike the government or government subsidized businesses, like Fannie Mae and Freddie Mac, private and corporate businesses have to keep spending down just to stay in business.  What this means is that, with an increase in tax expenditures, businesses will have to generally cut spending, and typically, the first spending cut is realized in wages for J-O-B-S.  As a result, either employees elect to take a pay-cut or some of the employees get laid-off.

In a recent stump speech, Obama asserted that, "We don't just need a plan for bankers and investors, we need a plan for autoworkers and teachers and small business owners."  Even though Obama's plan may help teachers somewhat, Obama's overall assertion is deceitful.  Obama's "economic rescue plan" increases taxes for large corporations, such as Auto-Makers like, GM, Ford, and Chrysler, which will be forced to cut J-O-B-S, such as autoworker type J-O-B-S, to pay the higher costs of T-A-X-E-S.  Moreover, Obama's "economic rescue plan" does not give the majority of small business owners a break on T-A-X-E-S.  Obama may give workers of small business owners a small tax break, but the small business owner that hires workers for his small business will be forced to pay higher T-A-X-E-S, which will result in a reduction in J-O-B-S for workers of small businesses.  Fundamentally, Obama does not understand this U.S. economic reality.

In sharp contrast to Obama, John McCain wants to cut business and investment related taxes and keep personal income taxes as low as possible to increase overall tax revenue and create more J-O-B-S, which will improve the overall general welfare of the U.S. economy.  John McCain clearly understands a strong U.S. economic fundamental: we, as hardworking U.S. citizens, do not need to be "rescued."  What we, the people of the United States, need and deserve is a break from high, unnecessary T-A-X-E-S. 

Fundamentally, John McCain knows what he is talking about: reduce business and investment related T-A-X-E-S to grow the U.S. economy and open the door for the creation of new J-O-B-S.