After reading "Obama's Magic", Kimberly Strassel, gives her insight about how Obama's policies does not add up to helping the economy or foreign relations and calls these feats that he supposedly will fix, magic. From the higher taxes and bigger regulations to businesses to leaving Iraq as soon as possible fixed or not fixed, Strassel points outs how Obama's policies are flawed. At the end, she also gives credit to McCain for not being as aggressive about bringing up these points.
The biggest issue on the minds of most Americans today is the economic recession and how the next elected president will attempt to fix this problem. The article also goes on to add in Obama's income tax policies and how 95% of Americans will have a tax cut at the sacrifice of the other 5% of Americans. Currently there 40% of Americans that don't pay income taxes at all. So my question is how do these Americans actually pay lower income taxes, unless they're actually getting paid by the government. The article also talks about the foreign policies and how If you want to figure out how much money you're going to save or pay under Obama's plan check out Obama Tax Cut.
Although the media currently brings up the idea that deregulation was the main reason why all these financial companies are in distress, Strassel brings up the point that during this current presidency, we had to actually put forth more regulations, such as Sarbanes and Oxley into effect due to the Enron fallout. So all this call of deregulation seems to be fabricated. Check out this video and see where a good deal of this whole housing situation started.
Although the article does not discuss capital gains tax, the increase of this will only continue to divert people away from investing their money. Although he does state that it won't effect people who earn over 250k, people who bought houses before this housing scheme has heavily invested money in their homes and come the day that they sell their houses they have to pay an extra 10% in taxes if the profits exceed 250k. Although 250k does sound like a lot of money in the United States, cities such as New York City has such a high cost of living 250k for a family who has 2 earners and 1 or 2 kids in private college does not have as disposable income as people would perceive them to have. During a democratic primary debate he is asked about this same topic his here is his reply:
Also, the fact that Obama wants to leave Iraq as soon as possible, even though the presence of insurgents and terrorist are still lingering in a country that is neighboring one of the biggest funder of terrorist activities could lead the country into another turmoil state with all the effort the US put forth lost. Even though much progress has occured in Iraq due to the surge strategy of General Petraeus, the seceding commander, General Odierno, is quoted in this news article that even he feels as that the violence has decreased their now needs to be a politically, diplomatic, and economic strategy enacted in Iraq to make sure a lasting stability. Obama fails to mention anything about helping restructure the country of Iraq. Obama also is mentioned that he promises to capture Osama Bin Laden but fails to understand the fact that there are several countries that will prohibit the US from entering their borders such as Pakistan could create even a bigger mess than we are currently involved in.
What is more important more for America today, jobs or more a couple hundred dollars to the people who don't pay taxes already? Should we leave a county knowingly that we destroyed their government, lost US lives, even though the country is not proven to be stable for a even a year? This November 4th, make an informed decision and support the candidate that you believes has better policies.
