Wednesday, October 29, 2008

Overlooked In The Debates

In the second Presidential debate, Senator Obama said if elected President his top priority would be to reduce America's dependence on foreign oil and fossil fuels along with other steps to make America "green. " The  news media failed to pick up on this.
 
Making the "greening" of America a priority makes sense, especially at a time of economic crisis.  The greening of America will create new, sustainable jobs quickly.
 
Many times when America has a crisis, we tend to overlook a lot of little things that add to the crisis and as a result never really solve the underlining causes.  The next President will have the opportunity to put our economic house in order.  The worst thing that could happen with falling oil and gas prices is to return to the status quo and have another repeat of higher energy costs down the road.
 
Our new leader has to make the government work for all the people, especially the middle class, who bear the heaviest burden in every economic crisis.  A growing and sustained economy with job creation is fueled by middle class spending, and without that, the economy does not work.  Tax breaks that favor the wealthy at the expense of the middle class do nothing for a sustained economy and job creation; all one has to do is look at the last 8 years and where we are today on the economy.
 
Senator Obama said an Obama administration would set priorities and it should.  One of the things we need to do early on is to get our own fiscal house in order and go back to balancing the federal budget.  That would solve the great majority of our economic problems and let us do those things that really matter and make a difference for our nation and its people.

Tax Facts

The following information was published by Parade Magazine in its October 12 issue.  The below covers income from less that $19,000.00 (the bottom 20% of earners) to $111,600.00.  I think everyone will agree those brackets cover the "middle class" that both candidates talk about.  The readers can judge for themselves just what plan helps the "middle class" the most.
  Obama's Plan:
 
If you make:                                                 Your average tax savings would be:
Less than $19,000.00                                                                            $567.00
$19,000.00 - $37,600.00                                                                         892.00
$37, 600.00 - $66,400.00                                                                       1118.00
$66,400.00 - 111,600.00                                                                        1264.00
 
McCain's Plan:
 
Less than $19,000.00                                                                               $21.00
$19,000.00 - $37,600.00                                                                           118.00
$37,600.00 - $66,400.00                                                                           325.00
$66,400.00 - $111,600.00                                                                         994.00