Obama’s Economics
All of us CNBC watchers were lucky enough to see clips from an in depth interview with Barack Obama on his detailed economic plan. The entire interview can be found here (part 1) and here (part 2), but here are some key notes from the speech.
His plan for restoring the economy:
- Modernize financial regulatory system
- Help homeowners facing foreclosure (not a buyer/seller buyout)
- Enact a 30B stimulus package
Tax Plan:
- Tax cuts for people making under 75,000 a year
- No income tax on Social Security
- 10% mortgage deduction for those who are not itemizing
Small Business:
- Adjust minimum wage according to inflation
- Union reforms are not a small business issue
- Provide tax breaks
- Help with healthcare
Balancing the Budget:
- Cut unuseful weapons programs
- Change purchasing policies
- Cut healthcare spending (his plan spends money in the short term, saves cost in the long term
Trade:
Amend NAFTA for environmental and worker standards
Work for real trade in a reciprocal system – shared prosperity
Posted: March 27th, 2008 under Finance Reform, Healthcare, Mortgage Issue, Obama, Tax Policy, Uncategorized.
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