This is the Cato Daily Podcast for Monday, June 16, 2008. I'm Keelib Brown.

There is at least one bright spot for the presidential candidates on how they would

tax and spend. Both Obama and McCain say they want to lower taxes on most Americans.

But it's how they do it and what they do to everyone else,

where McCain and Obama diverge.

Chris Edwards, the Cato Institute's Director of Tax else where McCain and Obama diverge.

Chris Edwards, the Cato Institute's Director of Tax Policy Studies, comments.

Well, the first thing to note, it's interesting that both candidates have come out with substantial tax cutting plans. It shows the strengths of the

theme of tax cutting and presidential campaigns. The Republican Party certainly over the last 15 years has put tax cuts at the center of its

public policy proposals and the Democrats certainly use the same kind of rhetoric that Republicans do that every family needs a tax cut.

So that's good for taxpayers in America, but there is some pretty stark differences between the Obama and McCain approach to tax cuts.

What do you see as the problems with the Obama plan?

Well, the main problem with Obama is that most of his plans are, most of his tax cut ideas

they're narrow giveaways, they're complex,

they favor certain Americans at the expense of other people, and there's these strange

contradictions in his tax plans. McCain on the other hand has very broad-based

tax reductions he wants to cut the tax rate for all corporations.

He doesn't want to play favorites between different types of companies,

as Obama does.

And so his are very broad-based tax cuts.

Obama suggests that he would simplify the process

of filing taxes for most Americans.

...