Obama would aim tax help at middle class

June 17, 2008 at 11:35 AM

FLINT, Mich., June 17 (UPI) -- Sen. Barack Obama, D-Ill., has indicated that he would finesse U.S. tax policy so that it better protects working-class Americans in the global economy.

The Wall Street Journal said Tuesday that while the presumptive Democratic presidential nominee was agreeable to trimming business taxes in general, he also wanted to close a number of loopholes used by corporations while aiming individual relief at lower-income tax brackets.

Obama said after an appearance in Michigan Monday night he believed current economic policy was geared toward benefiting upper-income individuals and that the government needed to assist workers whose position has been weakened by "globalization and technology and automation."

Another linchpin of Obama's economic platform, the Journal said, is a tax on greenhouse gas emissions that would fund massive investments in alternative energy research.

Presumptive Republican presidential nominee John McCain's camp dismissed the plans as lacking details and showing "no faith in private markets."

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