On the Issues: Obama vs. McCain - Page 3 of 4

On the Issues: Obama vs. McCain

firearms. Opposes “waiting periods” for lawful citizens purchase of firearms. Wants to permanently reinstate assault weapons ban. Says, “gun owners rights are constrained and bound by the needs of the community.” Iraq

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In 2002 voted on favor of Iraqi invasion. Has been an ardent proponent of troop surge. Has said he hopes to defeat Al-Qaeda by 2013 and hopes for Iraq to have a functioning democracy by the same year. In January 2007 he introduced legislation to end the war In Iraq with a phased withdrawal of troops engaged in combat operations. Supports a UN-led Iraqi constitutional convention. Though he has always been an opponent of the war, Obama was not yet elected during the 2002 Congressional authorization of the war. During a July tour of Iraq German newspapers inaccurately reported that Iraqi Prime Minister Nuri Kamal al-Maliki had supported Obama’s plan to withdrawal troops within 16 months of taking office. Iran

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Has expressed support for the Kyl-Lieberman amendment naming the Iranian Revolutionary Guard a terrorist organization. Is not opposed to taking military action against Iran. Does not support direct diplomatic talks with Iran. Supports tough sanctions on Iran to stop proliferation of uranium enrichment. Wants to engage Iran diplomatically. Wants to develop a cooperative security framework with foreign countries including Iran. Social Security

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Would develop bipartisan plan to “fix” social security system. Supports private savings accounts for individuals. Has called current Social Security system “a disgrace.” Supports an increase the maximum amount of earnings covered by Social Security. Wants to work with Congress to develop a payroll tax reform package that will keep social security buoyant for the next 50 years. Housing Crisis

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Wants to enable home owners to get 30 year FHA loan at new value of home rather than accelerated value of home.

Would enact the HOME plan that allows homeowners to trade In burdensome mortgages for manageable loans.

Calls for Department of Justice task force to investigate criminal wrongdoing in mortgage lending and securitization industry.

Does not support government bailout for Fannie Mae and Freddie Mac. Supports FHA Housing Security Program providing incentives for lenders to buy or refinance existing mortgages, and to convert them into stable 30-year fixed mortgages.

Has not directly opposed or supported government bailout for lenders. Tax policy

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Proposes a doubling of the child exemption tax from $3,500 to $7,000 Will propose a middle class tax cut –a phase out of the Alternative Minimum Tax.

Would reduce the corporate tax rate from 35% to 25%.

Wants to raise the exemption from taxation on estates up to $10 million while cutting the tax rate to 15 percent. Supports a middle class tax cut and proposes eliminating income taxes for seniors making under $50,000 a year.

Wants to