McCain on the very surface appears to outdo Obama's aid to college families.  McCain's proposal... $7,000 deduction.  Obama just a $4,000 tax credit.

Don't be deceived however.  Obama's credit is a dollar for dollar reduction in your taxes.  McCain's will save the average family income $1,760. 

A tax deduction reduces your taxable income.  If you are a lower income family, you will get the same deduction, but because your tax percentage is 15%, you will save on average $1,050, not $4,000 like with Obama. 

Because the wealthy pay a higher percentage, they save more with a deduction.  The same deduction for the top 5% of Americans would save them $2,350. 

Obama's plan requires 100 hours of community service, but will save low income families nearly $3,000 and middle income over $2,000 over the McCain proposal!

Do the math.  Obama '08