Obama Vs Mccain On The Economy
- Author Darryl Cherness
- Published September 1, 2008
- Word count 655
In a previous post, I discussed Obama’s positions on key economic issues. In this post, I will compare and contrast the two candidates on those same economic issues. After reviewing these issues, I am confident that you will conclude that Barack Obama is a friend of working people while John McCain is a friend of big business and the wealthy elite.
On labor related issues, Obama supported the Employee Free Choice Act, federal legislation that grants workers the right to join unions free from employer harassment or intimidation. Obama voted in favor of the motion to close debate on the Employee Free Choice Act. McCain not only failed to sponsor this legislation, he voted against the motion to close debate, effectively killing the Employee Free Choice Act. (H.R. 800, Vote #227, 6/26/07)
On another labor issue, protecting striking workers, Obama has opposed replacing striking workers with permanent replacements. McCain voted against ending debate on a bill that would prohibit employers from hiring permanent replacements for striking workers (S55, Vote #189, 7/13/94).
Finally, in regard to labor issues, Obama has supported raising the minimum wage and indexing it to inflation. Obama voted in favor of raising the federal minimum wage to $7.25 an hour while McCain voted against increasing the minimum wage (SA.44 to S.256, Vote #26, 3/7/05).
On the subject of tax relief for working families, Obama supports a tax credit of $500 per individual or $1,000 per working family. In addition, Obama supports requiring the wealthiest Americans to pay a higher tax rate to finance these tax credits and other federal programs. McCain supports a summer gas tax holiday in which the federal gas tax and the diesel tax would be suspended. He also supports keeping the Bush tax cuts for the wealthy, where the top tax rate was cut from 39.6% to 35.0%, giving the very wealthy a tax windfall.
In regard to the so called summer "tax holiday," this proposal has been denounced by Obama as a "gimmick." The problem with this proposal is that it has no long term effect. The tax relief is limited and temporary. What happens when summer ends? In addition, a cut in the gas tax, even if temporary, would mean that state governments would lose millions of dollars in federal funding for highway improvements necessary for safety and the reduction of traffic congestion.
Another issue of major importance to this year’s presidential campaign is trade. Obama wants to amend the North American Free Trade Agreement (NAFTA) so that it benefits American workers by including good labor and environmental standards. McCain is a strong supporter of NAFTA, which the AFL-CIO has stated has cost 1 million American jobs from 1993-2004 (Working Families Vote 2008). McCain has made it clear that he does not support amending NAFTA to create stronger labor and environmental standards.
In regard to the Central American Free Trade Agreement (CAFTA), a free trade agreement that is opposed by the labor movement, Obama voted against it while McCain voted for CAFTA (S.1307, Vote 170, 6/30/05).
Finally, in regard to protecting homeownership and cracking down on mortgage fraud, Obama supports the creation of a fund to help homeowners refinance their mortgages. The fund would be paid, in part, from increased penalties levied against lenders who act irresponsibly or commit fraud. Obama has also introduced legislation (Stop Fraud Act) that defines mortgage fraud, increases funding for state and local law enforcement, and increases penalties for mortgage fraud.
As for his plan to deal with this problem, McCain said the following: …"there is no substitute for faster economic growth. No government program is a substitute for the jobs provided by a growing economy." (Forbes, March 20, 2008) In other words, McCain’s plan is to do nothing for those faced with the loss of their homes or for those who watch while the value of their homes decline. This should hardly come as a surprise to those who may recall that McCain was previously quoted as saying that he did not understand economics.
Darryl Cherness is a Labor Representative with a public sector labor union. In addition to his union activities, Mr. Cherness is actively involved in grassroots Democratic politics. Among his accomplishments, he was selected as a delegate to the 1992 Democratic Convention and was named as a "Democrat of the Year" in 2005 by the Los Angeles County Democratic Party.
Readers are encouraged to visit his website at: http://informationforunionmembers.com
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Out with Fianna Fáil and Fine Gael: 230,000 Irish Children Living in Poverty
- Why Women of Color Need to Support Kamala Harris
- The Dark Reality of Forced Prison Labor: Why I Stand Behind Proposition 6
- Analyzing the Leadership Qualities of Abraham Lincoln during Crisis Situations and Racial Legal Issues: Studies
- Exploring the System of Checks and Balances Among the Three Branches of Government Machinery
- An Analysis of the Political Landscape in Guatemala and Its Impact on Regional Stability
- Gossip! How Caryma Sa'd convinced Jeremy Mackenzie to work for the RCMP
- Analyzing the Cultural and Historical Significance of Mongolia in Relation to Its Socio-Political Context
- Left, Right, and Ridiculous
- The Effect of Brexit on the UK Fishing Tackle Industry
- A Visionary Leader for Somalia's Future: Mohamed Said Deni's Path to the Presidency in 2026
- Potential 2024 Padang Pariaman Regent Candidates Form Three Axes: High Chances of Fierce Competition
- Russia Gate-How It Happened
- How the Manhattan D.A. is changing Politics in America
- How Corruption is Destroying Development in Africa
- What Happens if Houthi vs US Led Operations takes another turn involving Russia and China? Regional wide impact.
- Why America Needs More Moderate Republicans
- From Importer To Exporter: The Shifting Geopolitics Of U.S. Energy Policy
- The Dark Side of Globalization: Inequality, Conflict, and the Struggle for Resources
- Escalation in the Israel-Palestine Conflict: Unpacking the Recent Hamas Attack
- What Frosts My Nuts: The End Time Has Come
- What Frosts My Nuts: Nixon had Big Balls but not P.B.J.
- The 2024 presidential election is already over.
- The Clown King of East Africa
- The Concerning Power Play of New York's Attorney General: A Threat to Its Politician and New Yorkers
- Who has the Right to Control another Adult's Life Without their Consent?
- Can the Charter of Democracy Save Pakistan’s Imperiled Democracy?
- Is Iran in a revolutionary situation?
- Why We Must Be Masters of Our Counter Culture
- It is more Important than Ever that we Guard against Selfish and Criminal Charismatic Leaders.