Why I’m Voting for Obama – Reason 1 of 3 – The Economy (and Energy)

November 3, 2008 by Pelikan
Filed under: Barack Obama, Energy Policy, Environment, Ohio Economy, Peak Oil, Presidential Campaign 2008, U.S. Economy 

Since the first presidential election in which I could vote, I’ve been hearing politicians promise tax relief for the middle class. They called it “tax relief” because very often there was nothing in it for the middle. President Clinton, to his credit, took care of the lower end of the scale with the Earned Income Tax Credit. Both Bushes gave us more of the Laffer Curve and Trickle Down Economics. The biggest breaks under every president I’ve had the privilege to vote for or against has benefited large corporations, usually of the multi-national type.

Along comes Barack Obama and he has not only promised middle class tax relief, he’s put numbers to the plan. Fully 95% of U.S. taxpayers would see their income taxes go down under the Obama plan. No gimmicks with capital gains rates that are supposed to encourage job creation or further cuts in the upper brackets. Put simply, he’s laid out a plan to cut income taxes for most Americans. If Obama is elected – and events don’t conspire to thwart his plans – what we’ll get is the ever elusive middle class tax-cut. It would be amazing after all the promises by both parties over the years. If you wonder how you would fare under Obama’s plan, try out the calculator located here.

What about jobs? One problem that has not been talked about enough for the past 20 or 30 years is the bleeding of America’s industrial base to foreign shores. Barack Obama isn’t Marcy Kaptur or Sherrod Brown on trade, but he is the first politician in many years to openly discuss the trade imbalance and its harsh reality for America’s workforce. From yesterday’s rally on the lawn of the Statehouse in Columbus, Ohio, here’s what Barack Obama said about jobs and trade:

When it comes to jobs, the choice in this election is not between putting up a wall around America or standing by and doing nothing. The truth is, we won’t be able to bring back every job that we’ve lost, but that doesn’t mean we should follow John McCain’s plan to keep giving tax breaks to corporations that send American jobs overseas and promoting unfair trade agreements. I will end those breaks as President, and give them to companies that create jobs here in the United States of America. We’ll create two million new jobs by rebuilding our crumbling roads, and bridges, and schools. And I will invest $15 billion a year in renewable sources of energy to create five million new energy jobs over the next decade – jobs that pay well and can’t be outsourced.

Again, Obama speaks in terms of public policy and a tax system that doesn’t paint us as isolationists or running away from globalization. Here we have a leader talking in terms of making investments in infrastructure at home – a legitimate priority of government – and using the tax code and policy to level the playing field among the U.S. and our trading partners. I am hopeful that an Obama Administration will propose and pursue a real U.S. industrial policy. When you consider the problems of health, quality, safety and the environment coming to light all over the world, it’s just a matter of time before we realize we’ve got to figure out how to produce things again for ourselves. Americans bled and died for the occupational health and safety, environmental, and product quality laws we have in this country. It seems incongruous to enrich to others around the world who are committing the same sins we atoned for generations before. I can imagine Barack Obama thinking about issues like this. I can’t imagine John McCain thinking about these issues, let alone fighting his way through the throng of lobbyists surrounding him to do anything of substance.

Finally, but perhaps it should be first, is energy. Barack Obama is the only candidate who has articulated a clear message on the importance of a radically different energy policy for America. There’s a little bit of everything in Obama’s energy policy – and probably not enough of any one thing. That said, Obama has laid more on the table than McCain who seems to be stuck in the Bush-Cheney mold on energy. If you look at Obama’s energy policy
you can see that his plans aren’t just about sources and supply, it’s the beginning of a policy that acknowledges that countries which get ahead of the oil addiction now can create economic opportunity by creating “green collar jobs.” On the other side, you have Sarah Palin screaming “drill baby, drill!” as if the world’s supply of oil is not diminishing a little more every day. You see, we may need to drill more before it’s all over. This country – and the world for that matter – will need a bridge to the next energy future. Obama, although I’ve never heard him use those words, speaks to me in those terms. The other side is full of catch phrases for the masses.

So to sum up:

  1. Middle Class Tax Cuts
  2. Tax policies that help small business and reward businesses that keep jobs in America
  3. Fair Trade
  4. Energy Policy

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Comments

One Comment on Why I’m Voting for Obama – Reason 1 of 3 – The Economy (and Energy)

  1. b4uno on Mon, 3rd Nov 2008 9:47 pm

    2. These sound nice in the beginning, however what it will lead to if the country doesn’t have a huge shift in consciousness is the mentality of “the government will do it for me”. It will be extremely easy to fall into that if people aren’t vigilant and mindful.

    This radio show talks about it in better detail.

    http://tinyurl.com/5znubc

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