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Rapper Kanye West has shot down a proposed live “presidential style” debate with rapper 50 Cent over their upcoming albums Graduation and Curtis, both due in stores on September 11.

The idea of a presidential debate was posed to 50 Cent during a live appearance on BET’s 106 & Park. Hosts Terrence J and Rocsi asked 50 Cent if he would debate Kanye on who has the better album, 50 Cent quickly accepted the challenge.

West shot down the idea of a debate last night (August 7) during a special edition of MTV’s hit countdown show TRL [Total Request Live], which served as the platform to announce the nominees 2007 MTV Video Music Awards taking place in Las Vegas on September 9.

“I don’t have beef with anyone,” West said. “What am I going to debate about? I’m going to go in the studio and make music. When I heard the thing about the debate, I thought that was the stupidest thing.”

West, who was nominated for five awards, made it clear that in the end, the fans would ultimately benefit from the friendly rivalry, no matter who tallies the best first week sales.

“When my album drops and 50′s album drops, you’re gonna get a lot of good music at the same time,” West said.

West’s latest video “Stronger” earned him a nod for Video of The Year, while three other Kanye songs (“Stronger,” “Can’t Tell Me Nothing” and “Classic”) earned him a nomination in the Male Artist of the Year category.

West was nominated in a new “Quadruple Threat of the Year” category, which honors artists who conquer multiple industries, including fashion, music, business, acting, etc.

He also earned nominations Best Director and Best Editing.

Other artists nominated include Justin Timberlake (7), Beyonce (7), Amy Whinehouse (3), T.I., Akon & Eminem, Lily Allen, Fergie, White Stripes and others.

“We may not own Las Vegas yet, but for one weekend the VMAs will rock this town,” said Christina Norman, President, MTV. “From Justin to Rihanna to the Foo Fighters, the sheer amount of star power and talent is tremendous and will no doubt blow the roof off The Palms. And, seriously, this is just the beginning.”

The 2007 MTV Video Music Awards will air live from the Palms Casino Resort in Las Vegas on Sunday, September 9, 2007 at 9PM.