I recently discussed at length what Barack Obama plans to do and what he has already done for the economy.
Now, let’s cover presidential nominee John McCain’s plans for the economy.
The Future
- John McCain has an economic plan that will create millions of American jobs, ensure our nation’s energy security, get the government’s budget and spending practices in order, and bring relief to American consumers.
- He plans to appoint a commission to examine modernizing labor laws, ensuring that Americans are Allowed to Work from home, promoting telecommuting, making healthcare benefits portable, allowing employers to work longer, and providing job training.
He also plans to provide immediate relief for American Families by repealing the 54 cents per gallon tax on ethanol, and lowering gas prices overall as well as rolling back corned based ethanol mandates which contributes to the rising cost of food.- He plans to keep homeowners in their home and stop bailing out real estate speculators and financial market participants as well as creating reforms so America is never in this position again. He currently is proposing a plan that will require home loans be rewritten and backed by FHA. Meanwhile, he promises to prevent the credit crunch from harming college students chances of financing their educations.
- He plans to reform Washington by balancing the budget, stimulating small business growth, and keeping jobs at home. He plans to stop wasteful spending in the Government.
- He plans to expand the use of Nuclear Power, coal and renewables to decrease our reliance on foreign oil. He plans to address speculative pricing of oil and to transform transportation with the use of battery technology, a clean car challenge, and flex-fuel, vehicles, alternative fuels, and mileage standards.
- He plans to reform healthcare with initiatives for cheaper drugs, prevention and early intervention of chronic disease, coordinate health care, information technology in healthcare, Medicaid and Medicare reform. These plans include smoking cessation, tort reform so that good doctors are not targeted, and transparency in healthcare costs.
- He plans to simplify taxes, lower tax rates for entrepreneurs, cut the corporate tax rate, and establish a permanent tax credit equal to 10% of wages spent on research and development. He also plans to ban internet and new cell phone taxes in order to foster economic growth through technology.
- He wants to lower barriers to trade and engage in multilateral, regional and bilateral efforts to reduce trade barriers and level the global playing field. He believes that by committing to education and school choice, the next generation will be competitive in a global marketplace.
The above information is paraphrased from John McCain’s campaign website
The Past
What has John McCain already done for the economy?
- He supported the Family Medical Leave Act in 1993.
- He co-sponsored the Family Friendly Workplace Act. (McCain’s name is not on the list of sponsors or co-sponsors, but the site does say the co-sponsor list may not be complete.)
I have been a certified tightwad striving for financial freedom since I became pregnant with my first child — and I decided to find a way to stay home with him full-time. I enjoy sharing my personal experiences in my journey back to financial health and planning for a future — which will include sending 2 kids to college and early retirement.
