McCain or Obama?
Taylor Mychal
Issue date: 9/4/08 Section: Opinion
McCain or Obama? Who has the better plan for restoring the economy and fixing the budget deficit problem? The problem with this short article is the lack of room to give both nominees the justice their economy plans deserve. So, going against my own judgment, I will discuss the economic and budget deficit plan of nominee I have chosen not support in his run for office, McCain.
McCain's economy plan has three main points; he wants to provide immediate relief for American families, support small business, and focus on what he calls "The Lexington Project".
Gas and food prices along with the Republican nominee's "Home Plan" are the two main bulletins of his immediate relief plan. He plans to suspend a combined 42.8 cent diesel tax during the summer which analyses believe "could save motorists $6.8 Billion in taxes." He also plans to remove 54 cents per gallon tax on the imported sugar-based ethanol. McCain will also attack corn-based ethanol mandates that are adding to the increased cost of food. The second fold of McCain's immediate relief plan called the "HOME Plan" is designed to give every homeowner to trade in their mortgage for a more manageable loan based on the home's market value which would be backed by the federal government. The "HOME Plan" will keep "200,000 to 400,000 families from losing their homes."
McCain believes supporting small businesses is the key to saving American workers and fixing the economy problem. He wants to provide $5,000 for health insurance to help ease the burden health insurance causes on small business. John McCain also will cut the corporate tax rate down 10 percent to help keep jobs in America. He also proposes to reduce the Estate Tax rate to 15 percent which will help families keep their businesses. McCain believes that globalization will help American workers by establishing more free trade agreements.
The third stage of the Republican's economic plan is called the "Lexington Project," his strategic plan for America to become energy independence. The first step is to increase our domestic supplies by tapping into the "trillions of dollars worth of oil and gas reserves in the U.S." while at the same time accessing the estimated, currently off limits, "18 billion of crude of oil and 77 trillion cubic feet of natural gas." He also plans to control the speculations around the oil prices which twists and distorts the market. John McCain has designed a plan to build 45 new nuclear power plants by 30; these plants will provide and estimated 700,000 jobs. Another step to his plan is to focus on how American cars are powered. McCain wants to focus improving the current battery technology and putting more flex-fuels on the road. These are just the main ideas of McCain's "Lexington Project."
John McCain has an aggressive plan to bring the budget to balance by 2013. The most important part is bi-partisan efforts to put the spending binge to an end. He plans to stimulate economy to grow by lowering individual taxes along with corporate ones. Stopping non-defense, non-veteran spending for one year will provide massive savings that can be applied to the deficit reduction. McCain also announced he will veto every pork-laden bill, bills designed to benefit the sponsors of the politicians who authored the bill, and make the author of the bill public information. Another way he plans to balance the budget is to hold the spending growth to 2.4 percent.
McCain has a very well defined economical growth and budget that addresses many of the nation's issues, but lacks the figures Obama's plan has to support it.
McCain's economy plan has three main points; he wants to provide immediate relief for American families, support small business, and focus on what he calls "The Lexington Project".
Gas and food prices along with the Republican nominee's "Home Plan" are the two main bulletins of his immediate relief plan. He plans to suspend a combined 42.8 cent diesel tax during the summer which analyses believe "could save motorists $6.8 Billion in taxes." He also plans to remove 54 cents per gallon tax on the imported sugar-based ethanol. McCain will also attack corn-based ethanol mandates that are adding to the increased cost of food. The second fold of McCain's immediate relief plan called the "HOME Plan" is designed to give every homeowner to trade in their mortgage for a more manageable loan based on the home's market value which would be backed by the federal government. The "HOME Plan" will keep "200,000 to 400,000 families from losing their homes."
McCain believes supporting small businesses is the key to saving American workers and fixing the economy problem. He wants to provide $5,000 for health insurance to help ease the burden health insurance causes on small business. John McCain also will cut the corporate tax rate down 10 percent to help keep jobs in America. He also proposes to reduce the Estate Tax rate to 15 percent which will help families keep their businesses. McCain believes that globalization will help American workers by establishing more free trade agreements.
The third stage of the Republican's economic plan is called the "Lexington Project," his strategic plan for America to become energy independence. The first step is to increase our domestic supplies by tapping into the "trillions of dollars worth of oil and gas reserves in the U.S." while at the same time accessing the estimated, currently off limits, "18 billion of crude of oil and 77 trillion cubic feet of natural gas." He also plans to control the speculations around the oil prices which twists and distorts the market. John McCain has designed a plan to build 45 new nuclear power plants by 30; these plants will provide and estimated 700,000 jobs. Another step to his plan is to focus on how American cars are powered. McCain wants to focus improving the current battery technology and putting more flex-fuels on the road. These are just the main ideas of McCain's "Lexington Project."
John McCain has an aggressive plan to bring the budget to balance by 2013. The most important part is bi-partisan efforts to put the spending binge to an end. He plans to stimulate economy to grow by lowering individual taxes along with corporate ones. Stopping non-defense, non-veteran spending for one year will provide massive savings that can be applied to the deficit reduction. McCain also announced he will veto every pork-laden bill, bills designed to benefit the sponsors of the politicians who authored the bill, and make the author of the bill public information. Another way he plans to balance the budget is to hold the spending growth to 2.4 percent.
McCain has a very well defined economical growth and budget that addresses many of the nation's issues, but lacks the figures Obama's plan has to support it.
Viewing Comments 1 - 1 of 1
Jon
posted 9/29/08 @ 10:19 AM EST
Judging from the poor grammar and structure of this article, I'm not surprised you're endorsing Obama.
The vast majority of Obama supporters I've encountered are full of lofty aspirations of "hope and change" but have little idea of how to actually incorporate that hope and change without screwing over individuals and businesses. (Continued…)
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