Domestic Policy
With the current financial crisis it would be easy to say, "I support Obama because McCain is for the same economic policies that got us into this current mess." And I would be partly right, but I would also be being disingenuous because the economy is always much messier than how it's portrayed in blame game politics. So instead, I will appeal to my understanding of the role of business, taxes and the government.
Government and business are in a symbiotic relationship. Businesses create an economy, and taxes from that economy fund the government. A good government fosters a good society that creates workers, and more entrepreneurs to start more businesses. Everyone who owns a business in the U.S. uses the human capital created by public schools, uses U.S. infrastructure, and is protected by the U.S. military etc... Thus the government relies on business to create it's economy, but business relies on the government for a vibrant society to do business in. It makes sense then that someone who profits from a business started in the U.S., using all this country has to offer, should pay for it in taxes. And it would further make sense that the more one profits in the U.S., the more of one's profit should be subject to tax. Government and business are inextricably connected. It is with this understanding that I support Obama's tax policy to raise taxes on those making a quarter of a million a year or more, and cutting taxes on the middle class.
From 1970 to 2000 the average income for those on the bottom 90% of the income ladder actually fell from $27,060 to $27,035, and those in the 99%-99.5% ranges average income increased from 202,792 to $384,192. Those in the 99.5%-99.9% saw their average incomes raised from $317,582 to $777,450, but most strking is the increase in the average income at the very top: $3,641,285 to $23,969,767. So it is fair to say that for most, incomes have been stagnant, and it would make sense to put more money in the pockets of those who need it and will spend it, than to give more tax cuts to those who are already well off.
I also support Obama's position on closing loopholes and going after corporations who dodge taxes. In all the talk about how much the rich pay in taxes, it often gets overlooked at how much they don't. Capitalism is effective at producing great wealth because it is driven by competition to become wealthier (AKA greed). If I believe that human beings are prone to corruption and selfishness, then I have to believe we need a strong government to manage the wealth created by our economy and enforce it's tax laws. When we do this, we create a healthy society of customers for businesses and more entrepreneurs to build businesses.
In other issues, heath care continues to sky-rocket making paychecks smaller while millions remain uninsured. Obama's plan isn't perfect, but I believe it's better than McCain's plan which will increase the number of the uninsured, lower the quality of insurance and doesn't address discrimination by insurance companies. I also like Obama's policy on education with everything from merit pay to tax credits for higher education, and free community college. Education is imperative for a healthy economy and society, and for the sake of lengthiness, I'll leave it at that.
In sum, based on my understanding of the relationship between government and the economy, I believe Obama's policies are superior to McCain's. Health care is something I am greatly concerned about, and I believe it is a joke that we spend as much as we do on health care yet have so many who are uninsured. Those in that bottom 90% have also seen their wages decrease by the rising cost of health insurance and education. Therefore, I believe it makes the most sense to lessen the tax burden on people in the middle, increase the tax burden on the top, and use that money for health care and education to better our society as a whole. I also continue to believe in eliminating programs that do not work, and cutting spending where we can. Obama claims to believe the same thing. We'll see if he actually does.
5 comments:
Chris, you said, "If I believe that human beings are prone to corruption and selfishness, then I have to believe we need a strong government to manage the wealth created by our economy and enforce it's tax laws. When we do this, we create a healthy society of customers for businesses and more entrepreneurs to build businesses."
May I ask a question? If we raise taxes on corporations as BO proposes, do you believe that those same "greedy and corrupt bastards" are going to keep their prices the same? Or is it more likely that they will just pass the expense onto us?
the short is answer is yes and no. it's just something that good economists disagree on, and it all has to do with supply and demand elasticity. what i do know is that the extreme isn't true i.e. businesses do not pay any tax, because then why would corporations be using tax shelters and loopholes in the first place?
Remind me, next time we're in person to talk about the whole PTSD from the war thing that we brushed on today. B/c if I remember it correctly I said, that there is also PTAS (Post tramautic Abortion syndrome) to which you immediately replied "well, they have that for adoption too."
IF that is how it went down it seems to defeat your PTSD and the war is causing more damage than abortion thing. Also, do you have research to back that up? Not that it exists but that it exists at the same rate or even close to the same rate as abortion.
Which in my opinion still misses the point b/c in adoption no one is dying.
Oh and I have the cash for your trip. :)
And yes, I put my link down because "I'm that Narcissistic."
lol, i thought about that narcissistic comment the other day. i suppose if you want people to read your blog, it's a smart thing to do, and it's arguably already a narcissistic exercise to even have a blog in the first place. so i retract that statement, even though i still think it was funny.
Where you at Chris O? I miss your comments at my blog... :)
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