Posted: Mon Oct 06, 2008 9:19 am Post subject: McCain's economic plan boosts middle class
John McCain's economic plan is designed from the ground up to raise incomes and create jobs for Americans - especially middle-class Americans - and get our economy moving again. It is in sharp contrast to Barack Obama's plan, which does not treat the middle class well and which will reduce jobs rather than create them. Let's compare the plans.
The McCain tax plan will allow middle-class Americans to keep more of what they earn than the Obama tax plan. McCain will increase the exemption for children from $3,500 to $7,000 per child, and he will provide a refundable health care tax credit of $5,000 for every family. What does this mean for middle-class families? Consider a married couple, one of whom works, earning $55,000 plus employer-paid health insurance of $8,000, and who rent their home and have two young children. Under McCain's plan, this family would receive a tax refund of $2,087 for health care and other things. Under Obama's plan, including his proposed worker's credit, this same family would not get any tax refund; in fact, they will have to pay taxes of $1,213. That's a $3,300 advantage for that family with McCain's plan compared with Obama's.
The results are similar for other middle-class families. If that family earned $42,000, they would receive $4,350 more with McCain than Obama. If the family did not receive health insurance from the employer, they would do even better under McCain's plan, receiving a tax refund of $3,287. Under McCain's plan, the lower a family's income, the larger the percentage reduction in taxes.
Incentives to create jobs
McCain's plan also provides incentives for firms to hire more workers and to pay them more. He will stop penalizing American firms when they create jobs in America rather than overseas. The U.S. tax code now levies a tax of 35 percent on American firms, the second highest in the world. McCain would reduce the tax to 25 percent, an important reason why his plan creates more jobs than Obama's. Another reason is that McCain will not raise the tax on small businesses, as Obama's plan does. Under Obama's plan, the top marginal income tax rate, which many small businesses pay, will rise to over 50 percent, including his proposed 5 percent increase in the statutory rate, 3 percent for Medicare, 3 percent for Social Security, and 4 percent from the phase out of exemptions.
McCain's economic plan is comprehensive and helps the middle class in many other ways. By promoting domestic energy production, including nuclear power and exploration and production of oil and gas - which Obama has opposed - McCain will reduce the price of gasoline, electricity and heating oil. By promoting free-trade agreements, he will reduce taxes on job-creating exports and reduce the prices that middle- and lower-income families pay for food and clothing. In contrast, Sen. Obama opposes good trade agreements - voting against the Colombia free-trade agreement - that would create jobs in America.
By controlling the growth of government spending - vetoing earmarks, freezing spending for a year, and bringing home our troops from Iraq with victory - McCain will reduce the deficit and stop running up larger and larger debts.
The most worrisome aspect of Obama's economic plan is that he would raise tax rates in a weak economy. I know of no sensible economic theory that says that increasing taxes, or even planning to increase taxes, in a recession is a good idea. Rather, it is flawed economics. Raising taxes could turn a recession into a depression, and would significantly harm middle-class families. No matter how you look at it, McCain's economic plan helps the middle class much more than Obama's.
Joined: Jul 20, 2005 Posts: 112 Location: New Hampshire
Posted: Wed Oct 15, 2008 11:26 pm Post subject:
Jay...
Choosing a president based on their campaign "plan" is like choosing a restaurant based on their menu in the phone book. A McCain presidency would have the same people, sitting at the same desks, doing the same thing they're doing now. I'm voting for real change. I want someone that will, right after the inauguration ceremony, find Dick Cheney, disconnect his computer and his phone, escort him to the door and take his security clearance away.
No matter who is elected, Bush and Cheney both will be out. McCain's best moment in the debate last night was when he looked at Obama in the eye and stated, "I am not George Bush, if you wanted to run against George Bush then you should have run against him four years ago".
No matter who is elected, there will be a lot of desk inhabitants being shown the door.
Joined: Jul 20, 2005 Posts: 112 Location: New Hampshire
Posted: Thu Oct 16, 2008 7:47 pm Post subject:
UncleDuck wrote:
No matter who is elected, Bush and Cheney both will be out.
No matter who is elected, there will be a lot of desk inhabitants being shown the door.
/ud
UD...
My personal opinion is that McCain went out into the desert after the 2000 primaries for 40 days and 40 nights, got a visit from a stranger and made the wrong decision. I don't believe that he's got the people working for him that would be able to find Dick Cheney, even if he wanted to. He did say, recently, didn't he, that he could envision a spot for Cheney in his administration? McCain's team now is the old Cheney team.
Back in July, McCain did say "Hell yeah ..." when asked it there may be spot in his administration. However, we haven't heard McCain utter a word about Cheney since. Just because that's what he said in no translates to this being a Cheney campaign - quite a stretch. McCain said he is NOT George Bush which means he ain't Cheney either.
But if Obama gets in he'll be nothing but a sock puppet on the hands of Pelosi and Harry Reid - a VERY scary thought.
Joined: Jul 20, 2005 Posts: 112 Location: New Hampshire
Posted: Fri Oct 17, 2008 10:59 pm Post subject:
JayGarcia wrote:
But if Obama gets in he'll be nothing but a sock puppet on the hands of Pelosi and Harry Reid - a VERY scary thought.
I must respectfully disagree with you on that. I don't believe for one moment that Obama will be anybody's sock puppet. I don't personally know either Pelosi or Reid, but neither of them appear to me to have the level of power or influence necessary to turn anybody into a sock puppet. If the election turns out the way the pundits seem to think it will, you're going to have a very independent bunch of congresspeople there are going to have a bunch of us out here that helped get them elected wanting to get things done. Both Pelosi and Reid have to answer to their members.
Prior to getting anything done on "The Hill" it has to pass the desk of Pelosi. And THAT is a very scary thought. In effect she has more power than the President. The scariest thought is the democraps having TOTAL control over the House and the Senate and if Obama is elected that's exactly what "could" happen but only IF the republicans that are up for re-election in November lose their bids. Be afraid ... very afraid.
And by the way, I sure hope you have enough wealth to spread around and redistribute OR you could just write me a check.
Joined: Jul 20, 2005 Posts: 112 Location: New Hampshire
Posted: Mon Oct 27, 2008 11:47 pm Post subject:
Jay & Uncle Duck...
Do me a favor. Follow this link (Note: the link is no longer accurate - see below), wait till the initial 30 sec video finishes and spend 30 minutes watching #3 of 9 (full speech). In 1956 I voted in my first presidential election, for Dwight Eisenhower. This is the first time since then that I will be voting FOR a candidate for president rather than the better of two choices. Then watch the short clip with James Taylor and look at the size of the crowd. Be sure to vote Nov. 4th. God willing, I will.
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