Iowan Sandy's back and she's better than ever...
McCain had first stab at this topic. He clearly stated he believes that government must get spending under control. Referring to the increased sized of the government, McCain said that although Republicans intended to change government, government changed them. That’s an interesting admission of shortcomings and plays off the Democrats mantra of “change”. Surprisingly, it didn’t come off as trite.
He also stated he will not hesitate to veto spending bills as needed. This was presented as a fundamental difference compared to Obama’s $800 billion spending plan and prior approval of hundreds of millions in pork barrel spending. Yes, yes, I would say that qualifies as a significant difference between them. McCain reiterated that he intends to cut spending and keep taxes low.
McCain explained that America’s business taxes are the second highest in the world. He wants to cut those taxes so businesses will remain in America rather than locate in countries with significant tax advantages. Don’t think for a minute that businesses don’t make that choice frequently. According to business ethics (yes, they actually teach this stuff to business majors in college, I know, I got an A in the class), a for-profit organization first and foremost has a responsibility to its shareholders. Shareholders want profits. Ergo, most business decisions are made based on financial benefits. Including tax benefits.
McCain also indicated that he has a plan for Americans to receive a $5000 tax credit for healthcare coverage and an increase in dividends to $7000 for a dependent child.
Obama attempted to deflect the comments regarding his approval of pork barrel spending and indicated that there was $18 billion in earmarked spending in last year’s budget. Oh, so his was just a drop in the bucket? Well, it all adds up folks, like an overflowing bath tub. And guess what? It’s OUR money, not THEIRS to do as they please!
Next Obama claimed that McCain will offer $300 billion in tax cuts to the richest people and businesses creating an average $700,000 tax benefit for those folks. He stated that he intends to grow the economy from the bottom up. And we can do that without jobs? Hmmm. He also said he will provide 95% of working families with a tax cut and for those making less $250,000 no tax increase.
Obama further explained that he does not intend to give tax cuts to businesses sending jobs overseas, that everyone should have basic health coverage, and that we need to get the middle class back on track.
Okay, so here’s my problem with all of that--I have my own biases, but really there’s no proof offered that either plan is economically advantageous or fiscally feasible. Let’s be real. Probably 9 out of every 10 people are only concerned with how the tax and spending plans will impact their own pocketbooks. Right? So it stands to reason that favor will lay with what SOUNDS like it will benefit each person individually. Therefore, to me this topic’s discussion was something of a hollow shell. My official reaction is a lackluster--meh.
(video found thanks to Did I Miss Something?)