Here is the first installment of our "McCain on the Issues" series that will be posted here at Blogs for John McCain in the weeks ahead, to give readers a clear understanding of where John McCain stands on all of the major issues facing America. This post details John McCain's Economic Stimulus Plan, as posted at his website, John McCain.com: (Click "Read More" Below)

Cut The Corporate Tax Rate From 35 To 25 Percent.

• A lower corporate tax rate is essential to U.S. competitiveness. America was once a low-tax business environment, but as our trade partners lowered their rates, America failed to keep pace, leaving us with the second-highest rate among the world’s advanced economies.

• Cutting the corporate tax will expand the U.S. economy, creating jobs and opportunities for prosperity. A recent analysis of tax policy options estimated that a cut less than half this size could increase long-term growth by 0.5 percent, or $100 billion in a single year.

• Lower corporate taxes leads to higher wages. Recent studies have shown that corporate taxes are in large part passed on to labor through lower wages. One study noted that a one percent hike in the corporate tax results in a 0.8 percent decrease in manufacturing wages. Accordingly, cutting corporate taxes can increase wages for American workers.

• Allow First-Year Deduction, Or “Expensing”, Of Equipment And Technology Investments.

• Expensing of equipment and technology will provide an immediate boost to capital expenditures and reward investments in cutting-edge technologies.

• The additional investment stimulated by a change to expensing of equipment and technology will drive to economic growth. A recent estimate of a modest expensing provision predicted a gain of 1.5 percent in long term economic growth.

• The complexity of our tax code needlessly burdens American businesses and families with $140 billion in compliance costs. Allowing expensing will eliminate the need for complicated accounting for depreciation.

• Establish Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D.

• The R&D tax credit will simplify the tax code, reward activity in the United States, and make us more competitive with other countries.

• A permanent credit will provide an incentive to innovate and remove uncertainty. At a time when our companies need to be more competitive, we need to provide a permanent incentive to innovate, and remove the uncertainty now hanging over businesses as they make R&D investment decisions.

• These Are Essential First Steps On The Path To Fundamental Tax Reform, Which Could Increase U.S. GDP By As Much As 10 Percent Over The Long Term.