Obama and McCain on Business Taxes - Who Has the Best Plan?

To summarize a candidate's platform is always dangerous, but I'm going to make an attempt, using information from the non-profit Tax Policy Center. Then I'll ask you to let me know which plan you think would be best for U.S. small businesses.

Senator McCain says he wants to:

• Reduce corporate income tax rates from 35 percent to 25 percent, phasing down the rate over the next few years
  
• Provide for immediate deductions for investment in certain kinds of capital equipment. Specifically, he wants to allow companies to immediately expense certain types of 3-year and 5-year equipment purchased between 2009 and 2013.
  
• "permanent reduction of the [estate] tax in 2010 by increasing the estate tax exemption from its scheduled 2009 level of $3.5 million to $5 million and reducing the tax rate from 45 to 15 percent.
  

  Senator Obama says he wants to:
  

  • Increase the maximum tax rate on capital gains and qualified dividends to 20 percent
    
  • Permanently freeze the estate tax in its 2009 configuration, which would keep the rate at 45 percent on estates over $3.5 million in assets
    
  • Create a "Making Work Pay Credit" of 6.2 percent up to $8,100 of earnings for self-employed individuals (a total of about $500)
    
  • Encourage use of 401(k) plans by employers, by requiring their use in pension plans and require employers to create plans to which workers can contribute

  This list is vastly over-simplified, and I only listed those tax plans which directly impact small businesses. You can read the entire report by the Tax Policy Center online in their PDF document.

  So which candidate's plan do you think would be best for U.S. small businesses, by encouraging expansion and investment? Please vote here.