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Finance Expert Goes Inside Obama, McCain Plans

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Oct 29, 2008 9:39 am US/Mountain

Finance Expert Goes Inside Obama, McCain Plans

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 Upcoming CBS4 Campaign '08 Election Coverage
by Michael Choy, cbs4denver.com
DENVER (CBS4) ― The economic proposals of presidential campaigns usually sound good to their supporters. But the plans are almost never executed exactly as the candidates propose during the run-up to an election.

"None of these things that either side has proposed is going to happen immediately," said Mac Clouse, a Ph.D. professor of finance at the Reiman School of Finance in the Daniels College of Business at the University of Denver. "It might be different if we really do have everything controlled by the same party, but still, a lot of times we give more credit to what the president can or cannot do in a system that relies on both the president and Congress."

Clouse points out that there are clear differences between the proposed economic policies of John McCain and Barack Obama.

"The McCain philosophy is really more toward generating business," Clouse said. "Obama is more looking at the average American and trying to do some things that help the consumer and help the people that are more in the middle class."

Clouse says some of the attacks calling Obama's plan socialist may be a little misguided.

"Socialism is about taking from the rich and giving to the poor. That's what taxes are generally about that anyway, no matter what you call the system," Clouse said. "It is a social decision that those who can afford to pay more are generally asked to pay more."

History shows McCain's policies have helped in previous economic recoveries, Clouse said.

"Historically, we've seen we tend to have a better chance of economic recovery if we do things to support the business sector because it is the growth of business and productivity of business that is going to create jobs that will ultimately lead to employment and incomes," he said.

Clouse said promoting businesses is a path to growing the economy.

"If we do things to discourage the growth and survival of small business, it is going to hurt the consumers," Clouse said. "And that's what Obama is very focused on, the individual, middle-America and those are a lot of the people who work at small businesses or are the owners of small businesses."

(© MMX CBS Television Stations, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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