As I was reading the Wall Street Journal, I came across an interesting article. The article talks about how the next president will have to deal with high unemployment and an economy heading towards an economic recession. So of course, everyone wants to know what McCain and Obama are going to do about it.
Senator McCain wants to increase corporate taxes from 25% to 35%, and he would keep all of Bush’s current tax cuts on individuals. On the other hand, Obama wants to increase the tax rate for individuals who make more than $250,000 and use the money from that to help cover the tax cuts that he is putting in place for the middle-class workers. Obama believes that if he helps the middle-class he will increase their consumer spending. To go along with this, Senator Obama believes in a second stimulus package while Senator McCain believes we should look into making President Bush’s tax cuts permanent. Although Senator McCain says this he also states, “He is open to a stimulus plan, but hasn’t committed to any specific proposal” (Izzo).
At the end of the article, there was a quote that I found interesting. Mr. Ashworth says, "You can't afford to bail out the financial system and the real economy at the same time." It will be interesting to see how the future president handles the economy and the increasing unemployment rate.
Subscribe to:
Post Comments (Atom)
1 comment:
Obviously the two presidential candidates try to show the public that they're taking the important issues of the nation into serious consideration. However, they took different approaches to stimulate the economic growth. Their different solutions to the problem show that they're meeting the campaign expections, in which the electorate expects the candidates to address themselves to society's problems and wants to see debate between the two sides.
Post a Comment