While many of John McCain’s policies would affect businesses of all sizes, for this discussion we’re going to focus on McCain’s policies on taxes, specifically, as listed on his campaign website, his Pro-Growth Tax Policy and Innovation Tax Policy.  Both of these policies would affect businesses throughout the United States as well as the evolution of technological advances as they pertain to business growth (including the internet).

McCain’s Pro-Growth Tax Policy is divided into four main points: Keep tax rates low, cut corporate tax rates from 35% to 25%, allow first-year deduction or “expensing” of equipment and technology investments and establishing a permanent tax credit equal to 10% of wages spent on R&D.

Keeping tax rates low would benefit entrepreneurs, according to McCain’s campaign website.  McCain proposes that he would keep the top tax rate at 35% and maintain 15% rates on dividends and capital gains.  To further lower taxes within this element of McCain’s tax plan, he proposes to phase out Alternative Minimum tax.  Cutting corporate tax rates by ten percent will make it easier for corporations to do business, as suggested on McCain’s campaign website.

Allowing first-year deduction or “expensing” of equipment and technology investments would do two things for businesses, particularly entrepreneurs.  This deduction would lower the cost of starting a new business as well as push technological sectors forward, thus fueling, for example, the evolution of technology (such as the internet) and how it’s used by businesses.

Establishing a permanent tax credit equal to ten percent of wages spend on R&D would, according to McCain’s campaign website, not only simplify the tax code, but also reward activity within the United States, thus boosting the attractiveness of conducting business within America.

So how does the Pro-Growth Tax Policy propose to affect your business?  That depends on the size and status of your business.  Are you an entrepreneur, entering your first year in business or a corporation entering the twentieth year of business?  This tax policy seems to account for both ends of that spectrum.

McCain’s Innovation Tax Policy holds interest for businesses of all sizes and stages of development.  We’re going to jump ahead to discussing cell phone taxes, and then return to discussing internet taxes.  Cell phones have quickly become the preferred method of contact.  Whatever your business, cell phones allow your clients to reach you even if you have to step away from the office.

That’s allowed many Americans to tailor their commute schedules, offering more fiscal affordability as well as ecological conscientiousness.  You can have a mobile office, a home office, or a brick-and-mortar office.  Some prefer to use text messaging in lieu of phone calls, to deliver and receive instant blurbs of information.

Many cell phones are now what are considered “smart phones” meaning that they provide phone service, text service, email, internet and in many cases additional features such as mp3 compatibility and video or digital cameras.  Imposing taxes on cell phones would decrease the use of this particular innovation that allows us to conduct business wherever we might be.

Imagine paying a laundry list of taxes on the internet.  Would you use it as much for personal use?  What about for your business?  Would internet marketing be as lucrative if it were taxed?  Of course, that depends on what the taxes are, the levels of taxation and how they’re qualified (which users have to pay how much and why).

Lately, in the face of October’s economic nightmare, internet marketing experienced a boost in use for the flexibility and affordability it provides.  Would internet taxes affect your business in a real way or would they be small enough to avoid deterring you?  According to his campaign website, John McCain doesn’t want to wait to find out and with his Innovation Tax Policy, proposes to ban taxation of internet use as well as banning new cell phone taxes (read between the line: the current cell phone taxes will stay).