With the presidential election coming up the debate of taxes and tax breaks will start to heat up. With the fear of a possible recession, inflation, and increasing oil costs the tax issue will be one that is closely listened to. As Americans feel the pinch in their wallets a presidential candidates stance on tax increases and tax reductions may play a factor in who they vote for. Jabs regarding taxes are starting to fly between Barack Obama and John McCain. Reuters Article The stance a presidential candidate takes on taxes affects not only personal income taxes but also the taxes business pay. Barack Obama has been critical of John McCain's flip flopping on tax issues. He opposed President Bush's tax cuts in 2001 but is accused of supporting permanent tax cuts starting in 2006 to get the Republican Presidential nomination. Barack Obama and Hillary Clinton have stated clearly they will raise taxes if they are elected president. I'm not suggesting which presidential candidate a person should vote for but taking into account our countries current economic situation a presidential candidates position on taxes may decide who gets the vote.