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Obama

McCain

Iran

Calls Iran the single biggest beneficiary of the Iraq war.  "Thanks
to George Bush’s policy, Iran is the greatest threat to the United States and
Israel and the Middle East for a generation. John McCain wants to double down
on that failed policy."  Will down to sit down and talk to Iranian
President. Said he is open to ‘tough and principled diplomacy’ with Iran

Calls Obama reckless and naive when it comes to the Iranian threat. 
Considers the Iranian threat ‘anything but tiny’.  Advisors have indicated
that the US should work with Israel to take preventive action against Iran.  Limited
policy information other than responses to Obama remarks.

Iraq

Voted against war in Iraq calling it a ‘dumb war’.  Proposes we stay
in Iraq under a defined timeline of withdrawal.  Against the troop surge,
says its not a long term solution

Voted for war in Iraq.  Proposes we stay in Iraq until ‘the job is
done’.  Supported troop surge as a tactical maneuver.  Has, in general,
called for an increase in troops involvement.

Korea

Opposes S. Korean Free Trade Agreement.  Citing lack of concern for organized
labor. “Senator Obama does not support the S. Korea FTA … and is troubled
that the Bush administration has not done more to help American workers who
are losing their jobs as a result of a changing worldwide economy”. 

On N. Korea he would create a new ad-hoc framework beyond the 6 party
talks.  Would push regional leads (Japan, China, etc.) to push regional
stability and prosperity.  Would also crack down on Non-Proliferation Treaty
so that N. Korea would face harsh international sanctions if violations occur. 
Would be willing to sit down with Kim Jong-il.

Supports Korean FTA.  “We have negotiated a trade agreement with S.
Korea that will expand American exports and create American jobs”.  On N.
Korea – would push S. Korea to forefront instead of direct talks.  Has a ‘hawkish’
stance on N. Korea and has criticized Bush administration for softening
stance on N. Korea.  McCain has said he knows what Kim Jong-il wants: “a
diminished American presence in Asia, payments for one part of his nuclear
program and no accountability for other and a free hand for his regime to torture
underground Christians…”

Cuba

At one point favored normal relations with Cuba.  Would meet with new
president of Cuba.  Would pursue direct presidential diplomacy, immediate
change in policy to allow for unlimited family visitation, and remittances to
the island.   

Believes that Raul Castro is worse than Fidel in many ways.  Supports
continued economic pressure.  Believes that Cubans tortured Americans in
Vietnam.

Israel/Palestine

Has pledged unwavering support for Israel.  Endorsed idea that any
peace deal between the Israelis and Palestinians must preserve Israel as a
Jewish state with Jerusalem as its capital.  “Will always keep the threat of
military action on the table to defend our security and our ally, Israel”. 
Called on Israel to help foster peace by refraining from building settlements
on what is widely considered Palestinian Land and allowing the Palestinians
more freedom of movement.

Looking to micro-manage Israeli/Palestinian relations.  Expects “concessions
and sacrifices by both sides”.  Believes “America’s unequivocal support for
Israel – not evenhandedness, not moral equivalence, not winking at
Palestinian violence – is the best guarantor of peace in the Middle East”. 
Consistently supports foreign aid to Israel and an isolated Hamas-led
Palestinian Authority.

Barack Obama

John McCain

The cause of the mortgage market meltdown

Somewhat vague in this area.  Leans towards fraud on the part of
banks and other ‘unfriendly’ practices.  Does not specifically mortgage
brokers as a cause.

Speculation by both banks and individual borrowers.  Places blame on
the shoulders of all involved, including banks, brokers, and borrowers.

The solution to the mortgage market meltdown

Direct Federal intervention.  Proposing the need for a relief package
of at $10 Billion to prevent foreclosures.  Funds would come from greater
enforcement and fines of existing regulations.

Insists that no government action is needed.  Recently McCain has
stated “It is not the duty of the government to bail out those who act
irresponsibly. Whether they are big banks or small borrowers”.

On Non-Corporate Taxes

Has indicated preference to increase Social Security tax, Capital
Gains tax, Dividend tax, and Income tax for the highest wage earners. Would
lower tax burden on lowest income groups. Does not support break in gas tax. 
Would reduce AMT and Estate tax (but not as much as McCain)

Supports the extension of President Bush’s tax cuts for those who
earn greater than $250k per year.  Would let capital gains tax reduction
reset and go up.  Supports a summer ‘holiday’ on the gas tax.  Would not make
any changes to NAFTA.  Would reduce AMT and Estate tax.

On Corporate Taxes

Believes companies should pay ‘fair share’ of tax burden.  Reduce
corporate subsidies.

Would lower corporate taxes, make expensing rules more generous for
small business.  Wants CEO pay regulation.

On the Deficit

Talks about reducing deficit but The Tax Policy Center estimates that
over 10 years Obama’s plan would increase the deficit by $3.3 Trillion

Talks about reducing deficit but The Tax Policy Center estimates that
over 10 years McCain’s plan would increase the deficit by $4.5 Trillion