Question about fundamental differences about how the two would solve financial crisis.
McCain talking about excessive spending, will veto spending bills, make them famous, etc. Brings up Obama's requests for earmarks.
Obama says he suspended earmarks pending review. Says earmarks only account for $18 billion, McCain is proposing tax cuts of $300 billion for the wealthy. Talks about how he wants to cut taxes for 95% of Americans.
McCain says Obama only wanted to cut the earmarks when he wanted to run for president. Says the money is all important. Says McCain is proposing $800 billion in new spending.
Obama says he will close corporate loopholes, go after companies shipping jobs overseas, talks about healthcare. Says we need earmark reform, says he will go line by line as McCain did. Said earmarks aren't enough. McCain's tax policies focus on those who are doing well.
Lehrer encourages McCain to respond directly to Obama. McCain doesn't though.
McCain says business pays second highest corporate taxes. Makes point about corruption and again talks about pork barrel spending and Obama's $932 million. Families should have $5,000 tax credit. Wants to lower taxes on everyone.
Obama focusing on camera again, saying 95% of Americans will get cut, for those under $250,000. Response on corporate taxes is that the rate is high but there are many loopholes. Says McCain will tax health benefits.
Lehrer tries to go forward. McCain raises energy bill with pork that he voted against, Obama voted for. He appears agitated. Obama tried to interject, couldn't hear what he said.
McCain keeps talking about "dividends" when he means credits I think.
McCain says Obama voted to increase taxes on people making as little as $42k, Obama immediately denies it. McCain laughing to himself.
Obama says McCain wants tax breaks for oil companies, McCain scoffing.