Tag Archives: barack obama

Pro-growth McCain is better for economy

According to an analysis on Bloomberg (and syndicated by the Business Day), a John McCain presidency would be more beneficial for the US economy because his policies are growth-oriented, whereas Barack Obama is more preoccupied with redistribution of existing wealth (“spreading the wealth around”) which will inevitably disincentivise wealth creation, futher stymieing economic growth.

Amity Shlaes, the commentator who wrote the piece, provides six compelling reasons why McCain has the edge on the economy:

1. Cutting the corporate tax by 10 percentage points, to 25 percent: A lower corporate tax rate would be a compelling reason for foreign money to want to stay here. It would help ensure that the dollar rally endures. It would drive the cash sitting around in what proved to be unprofitable investments — subprime mortgages, for example — into potentially profitable ones, many of which are as yet unidentified.
2. Capital Gains: Preserving the 15 percent tax rate on capital gains and dividends. McCain also has said he will make permanent President George W. Bush‘s income-tax cuts.

What today’s financial crisis has revealed is that there are a lot of mediocre companies slumbering in portfolios. Many people are getting out of those companies now. More will want to make their exit in coming years, but the capital gains rate increase promised by Barack Obama and the Democrats might deter them. The result will be that cash will not flow as often to new companies that may be developing superior products.

McCain’s rates would not only speed a recovery but also improve its quality and durability.

3. Capital Goods: Letting businesses expense technology and equipment in the same year they buy it. Under the current expensing provision, companies can write off half their equipment outlays in the first year and must depreciate other costs over a longer period.

4. Building nuclear plants: This is the kind of infrastructure the U.S. really needs, and it would even be fine to use Treasury bonds to finance it. Less dependence on foreign oil means less instability in domestic markets.

5. Freezing government spending overall: A superb notion, even if most of us believe Washington isn’t capable of passing it into law.

6. Taking the long view: McCain’s advisers talk about dynamic — not static — analysis, looking at the growth and competitive environment generated by tax cuts. The Institute for Research on the Economics of Taxation finds that the McCain tax plan would add 0.5 percent to the annual growth rate for the private sector for five years. Obama’s plan would subtract 0.7 percent a year in growth for the same period.

Read the analysis in full at Bloomberg.

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Obama’s lies: what was that about a “new” kind of politics?

A few days ago, Afrodissident posted a video outlining the dodgy claims McCain’s campaign is making about Obama. Well, it transpires that Obama is playing dirty too — with Andrew Sullivan, a blogger in the US, citing at least three examples where McCain’s positions have been deliberately misrepresented or lied about:

Obama’s lies smack of desperation — and rank hypocrisy. His brand is all about change, about bringing a new, honest, open style of politics to Washington. Now that the gloves are coming off, perhaps so is the mask….

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McCain’s “distortions”: is this man a serial liar?

Here’s a viral video doing the rounds that takes aim at the alleged lies and distortions being peddled about Obama’s record in McCain campaign ads. If these allegations are true, it reveals a disquieting lack integrity on the part of McCain to say the least.

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Obama vs Clinton – guess who worked harder in the Senate?

As I write this, history is in the making as Democrats in Ohio and Texas vote for their presidential nominee. After eleven consecutive wins, Obama looks set to scoop up the two states, but there’s no knowing what will happen.

I received an email from a friend that outlines the senate records of both Barack Obama and Hillary Clinton. Its contents makes for some interesting reading:

Senator Clinton, who has served only one full term (six years) and
another year campaigning, has managed to author and pass into law twenty pieces of legislation in her first six years.

These bills can be found on the website of the Library of Congress
www.thomas.loc.gov, but to save you trouble, I’ll post them here for you:

1. Establish the Kate Mullany National Historic Site.
2. Support the goals and ideals of Better Hearing and Speech Month.
3. Recognize the Ellis Island Medal of Honor.
4. Name courthouse after Thurgood Marshall.
5. Name courthouse after James L. Watson.
6. Name post office after Jonn A. O’Shea.
7. Designate Aug. 7, 2003, as National Purple Heart Recognition Day.
8. Support the goals and ideals of National Purple Heart Recognition
Day.
9. Honor the life and legacy of Alexander Hamilton on the bicentennial of his death.
10. Congratulate the Syracuse Univ. Orange Men’s Lacrosse Team on winning the championship.
11. Congratulate the Le Moyne College Dolphins Men’s Lacrosse Team on winning the championship.
12. Establish the 225th Anniversary of the American Revolution Commemorative Program.
13. Name post office after Sergeant Riayan A. Tejeda.
14. Honor Shirley Chisholm for her service to the nation and express condolences on her death.
15. Honor John J. Downing, Brian Fahey, and Harry Ford, firefighters who lost their lives on duty.

Only five of Clinton’s bills are more substantive:
16. Extend period of unemployment assistance to victims of 9/11.
17. Pay for city projects in response to 9/11
18. Assist landmine victims in other countries.
19. Assist family caregivers in accessing affordable respite care.
20. Designate part of the National Forest System in Puerto Rico as protected in the wilderness preservation system.

There you have it, the facts straight from the Senate Record. Now, I would post those of Obama’s, but the list is too substantive so I’ll mainly categorize.

During the first eight years of his elected service he sponsored over 820 bills. He introduced

• 233 regarding healthcare reform
• 125 on poverty and public assistance
• 112 crime-fighting bills
• 97 economic bills
• 60 human rights and anti-discrimination bills
• 21 ethics reform bills
• 15 gun control
• 6 veterans affairs

and many others.

In his first year in the U.S. Senate, he authored 152 bills and co-sponsored another 427. These inculded **the Coburn-Obama Government
Transparency Act of 2006 – became law, **The Lugar-Obama Nuclear
Non-proliferation and Conventional Weapons Threat Reduction Act, -became law, **The Comprehensive Immigration Reform Act, passed the
Senate, **The 2007 Government Ethics Bill, – became law, **The
Protection Against Excessive Executive Compensation Bill, In committee.

In all, since entering the U.S. Senate, Senator Obama has written 890 bills and co-sponsored another 1096. An impressive record, especially for someone who supposedly has no record according to those who would prefer that this comparison not be made public.

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