Don’t get me wrong here, I like Obama (I’m a Democrat, albeit a conservative Democrat) and I also like Hillary, but that doesn’t mean I will just give them a pass because I’m a Democrat and McCain is a Republican.
When it comes to economic policy, Barack Obama’s standard campaign crack that a John McCain administration would amount to a third term of George W. Bush contains an awful lot of truth. Yes, McCain is a different man, with a different history, who will face a different set of challenges and opportunities than Bush has. But look through McCain’s campaign pledges on the economy, and for the most part they really do amount to a continuation of two key policy priorities of the Bush administration: cutting taxes and moving more economic decisions (and responsibilities) into the hands of individuals.
McCain economic adviser Douglas Holtz-Eakin tried over the weekend to make the case that it’s Obama who more closely resembles Bush because they’re both big spenders. But it’s hard to see that one sticking. If this election becomes a referendum on the recent performance of the U.S. economy, Obama wins and McCain loses. It’s as simple as that.
I am all for raising taxes for people who have more disposable money as well as raising taxes for businesses, BUT I don’t want blind taxation. I want smart taxation. 150,000 dollars a year might sound like allot to me and you (for me, that is changing… 150,000 a year don’t sound so great to me any more but at the same time its still allot) but I don’t think its allot for a family of 3.
And if you are going to tax those who earn, say over 200,000 a year, lets put that new tax to things we need now like investing in our infrastructure (roads, train, airports, electric grid, fuel distubution and so forth). Imagine taking a train going 300MPH to Florida from New York and get their in 8 hours 9or less… I don’t feel like doing calulations on how far NYC is from say Maimi and how long it would take to ge there at 300MPH lol). We are in dire need of investing in our infrastructure especially our trains, bridges, tunnels and airports.
Taxing oil companies for their windfall sounds great, but it would be better if they were allowed to use that money on new technology and R&D for new fuel deposits and such. I think they would do a better job at finding more resources then the government would.
I don’t want taxes, I want smart taxation and investment.
Link: What Is Obama’s Economic Plan? – TIME