Monday, September 22, 2008
ISSUE OF THE DAY! - THE ECONOMY
Let's be real people! We have all lived above our means. It's hard not to wanna keep up with the Jones'. And sometimes, it's not even trying to keep up with the Jones' as much as it is keep our head above the water. But my point is simply this. How in the world is the poor state of our economy, President Bush's fault? Which leads me to the next question....who will help turn us around, McCain or Obama? Tell me what you are thinking. I still need to do some research myself!
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3 comments:
Good question Kim. The cost of the government directly affects the economy. Consequently, President Bushes push into Iraq and the subsequent costs have placed a large tax burden on all of us.McCain is proposing cutting corporate taxes 25% and supports the tax plan put into place by Bush that expires in 2010. In fact, he feels it should be permanent. Obama wants to raise income tax for the wealthiest and tax their capital gains. He will raise corporate taxes.He is proposing cutting income tax for the poor and the elderly including tripling the Earned Income Tax Credit for minimum wage workers and higher credits for larger families. My question is will the gains from taxing wealthier individuals and higher corporate taxes be enough to fund all of the programs that he is planning to institute. If anyone has seen a proposed balance sheet from Obama that would be cool to see. McCain says he will balance the budget in his first term. Scott
I watched Obama on 60 minutes. I can see why the wealthy and really rich would not be to happy about Obamas plan. What we consider middle class, are in a lot of trouble. My husband is a big reciept keeper. I wet back 5 months to see the diffrence in how much spent in food, and gas. Gas has more than doubled. Takes about 95 to 100 to fill my tank. Last about 4 days, and we don't drive all that much. Food for 8 people is hiddeous! To really pack my fridg and pantry, it takes at LEAST 300 a week. That's with coupon clipping and all. So it hurts real bad.I Cut my cable off and hanging clothes out to dry. Kim asked " Is it really that bad?" Well, sort of, yeah. I don't want to cut things down in a panic. I feel more in control doing it strategically. It's stressfull, and lots of marriages are suffering for it to. Men don't feel like men, when they can't support there familys like they want to. And women that stay home with there babies are feeling the pressure to. We all need to pray.
I know I'm kinda late on the topic and wanted to chime in quickly. Scott what a great comment to clarify the positions. I wish I could see some things too. I just don't understand at all cutting taxes on corporations and the wealthiest while the rest of us pay the price. I don't mind paying, but not to continue to watch the rich continue to get richer at everyone elses expense. Just more and more corporate big dog abuse and no regulations. That is also my gripe about the bail out...will out bailout money (yes our tax dollars) be used to buy their next vacation home or private school tuition...if so can I mess up and get a bailout too.
For either candidate the financial mess will take a while to clean up. This is not going away any time soon or just because we elect someone new, but hopefully it can be turned around and repaired so the swing starts back up.
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