Monday, November 10, 2008

Obama’s Many Promises

Here they are - Obama's biggest promises from his "blueprint for change" campaign speeches and advertisements.... I wonder how many he will keep?  Actually, we would be better off if he made no promises and did less.  That would mean less damage to the economy.  How I miss the days of political gridlock back in the 1990's, it was great for financial markets....

A Checklist Of Obama’s Many Promises:

Taxes
Give a tax break to 95% of Americans.
Restore Clinton-era tax rates on top income earners. “If you make under $250,000, you will not see your taxes increase by a single dime. Not your income taxes, not your payroll taxes, not your capital gains taxes. Nothing.”
Dramatically simplify tax filings so that millions of Americans will be able to do their taxes in less than five minutes.
Give American businesses a $3,000 tax credit for every job they create in the U.S.
Eliminate capital gains taxes for small business and startup companies.
Eliminate income taxes for seniors making under $50,000.
Expand the child and dependent care tax credit.
Expand the earned income tax credit.
Create a universal mortgage credit.
Create a small business health tax credit.
Provide a $500 “make work pay” tax credit to small businesses.
Provide a $1,000 emergency energy rebate to families.

Energy
Spend $15 billion a year on renewable sources of energy.
Eliminate oil imports from the Middle East in 10 years.
Increase fuel economy standards by 4% a year.
Weatherize 1 million homes annually.
Ensure that 10% of our electricity comes from renew- able sources by 2012.

Environment
Create 5 million green jobs.
Implement a cap-and-trade program to reduce green- house gas emissions.
Get 1 million plug-in hybrids on the road by 2015.

Labor
Sign a fair pay restoration act, which would overturn the Supreme Court’s pay discrimination ruling.
Sign into law an employee free choice act — aka card check — to make it easier for unions to organize.
Make employers offer seven paid sick days per year.
Increase the minimum wage to $9.50 an hour by 2009.

National security
Remove troops from Iraq by the summer of 2010.
Cut spending on unproven missile defense systems.
No more homeless veterans.
Stop spending $10 billion a month in Iraq.
Finish the fight against Osama bin Laden and the al- Qaida terrorists.

Social Security
Work in a “bipartisan way to preserve Social Security for future generations.”
Impose a Social Security payroll tax on incomes above $250,000.
Match 50% of retirement savings up to $1,000 for families earning less than $75,000.

Education
Demand higher standards and more accountability from our teachers.

Spending
Go through the budget, line by line, ending programs we don’t need and making the ones we do need work better and cost less.
Slash earmarks.

Health care
Lower health care costs for the typical family by $2,500 a year.
Let the uninsured get the same kind of health insurance that members of Congress get.
Stop insurance companies from discriminating against those who are sick and need care the most.
Spend $10 billion over five years on health care information technology.

Source: Investors Business Daily, Page A11, Tuesday, November 11, 2008

1 comment:

  1. I wonder if increasing the deficit by over 1trillion and increasing unemployment were also in his plans....

    ReplyDelete