Presidential hopefuls Barack Obama and John McCain have clashed over the issue of tax reform.

Obama has pledged to introduce a windfall profit tax on oil companies and raise income tax for those earning over $250,000 a year if he wins the White House. McCain favors a lower corporate tax rate (from 35% to 25%) and suspension of fuel taxes during summer. Both seek tax cuts for the middle class.

“Investors should focus their minds around one uncomfortable fact,” says Martin Hutchinson in Money Morning.