Yes, Obama's plan is a lot better than McCains. Trillions better. The choice between the two is clear. But it is sad that we are not even offered the choice of a fiscally responsible plan. It's like a small car in the 1990s - there just isn't a market for that product in America. It took $4 gas for Americans to discover small cars; what amount of national debt will it take to discover fiscal discipline?
According to Tax Policy Center, Obama's plan would increase revenues by $600 billion over the next 10 years relative to "current policy", while McCain's plan would reduce revenues by a similar amount. Here, "current policy" means extending the Bush tax cuts; if we compare to current law, in which those tax cuts expire in 2011, we are talking about revenue losses of $2.9 trillion (Obama) or $4.2 trillion (McCain). And that's not even counting their health care proposals, which are harder to compare side-by-side (McCain's would lose another $1.3 trillion in revenues; Obama's would mostly affect the spending side).
My message to whoever gets elected: please, please break your tax promises!