I’ve heard people say that McCain is “old school”, “stuck in the past”, “archaic”, “has no future vision”, well, I beg to differ on this perception of McCain.
Regarding McCain’s experience, you cannot simply discount his experience as him being old school or stuck in the past with no vision for the future. McCain’s experience over the past 25+ years, his deep understanding of history, world events and first hand exposure to many different and dangerous world leaders, is the critical and essential tool that will enable him to create a safe and progressive future for America. I firmly believe that McCain’s policies have my best interests at heart. We Americans are facing very challenging years, and I don’t feel at all comfortable turning the pilot’s seat over to someone who only has a temporary pilot’s license. McCain has served in the Senate through many Presidency’s….some successful, some not so successful. He has seen firsthand what works and what doesn’t work. It is amazing to me how many American’s are so quick to throw away McCain’s valuable experience and knowledge to blindly throw their vote to a guy with very little experience. That is a pretty big gamble if you ask me.
In last nights debate, on the subject of what each candidate would change regarding their economic plans in lieu of the $700bn bailout, Obama said basically nothing. McCain, however, said he would implement a spending freeze. I like this approach. Freeze spending until the government can get a handle on all the wasteful projects and eliminate or change them. McCain also spoke about a reduction in taxes for American companies, addressing the impact that higher taxes would have on American companies moving out of the US to do business. Currently, the tax code encourages companies to do business overseas in places like China, India, and Mexico, which in turn, actually sticks the American public with a higher tax bill. McCain pointed out using Ireland as an example that a company will only pay 11% tax (Ireland’s tax rate) vs. the US’s 35%, while doing business there. The US tax code only requires that the company doing business in Ireland pay taxes on the earnings of the foreign subsidiary when they bring that money back to the US. But, there is no rule stating the company has to bring the money to the US. As long as the company reinvests its foreign earnings abroad, they only pay the host country’s tax rate. So, the US does not collect any tax revenue on the company doing business in Ireland, as long as that company reinvests its’ earnings in that country. Well, think about this for a moment. If an American company does not want to do business in the US because of the high tax rate, and opens up shop in Ireland, who benefits from the tax revenue collected on the company’s earnings? The American public? No, the people of Ireland. The reinvestment of earnings in Ireland amount to better infrastructure and more jobs for the people of Ireland, not the US. If you own a company here in America, what would you do? Pay higher taxes and keep less of your earnings? I don’t think so. You’d look to do business elsewhere in a country that would favor your bottom line. So what happens to the American public? They end up paying more in taxes to cover the gap caused by American companies doing business overseas. The American public in essence foots the bill and pays for the increases in jobs and infrastructure in other countries. The US tax code needs to change. McCain’s policy of a reduction in business tax for American companies needs to be implemented and American companies operating overseas must pay US tax on the earnings of their foreign subsidiaries. We must encourage and make it favorable for American companies to do business on American soil. This will increase jobs for Americans, improve American infrastructure and help to rebuild America to the global economic powerhouse it was and can be again. McCain understands this, has the foresight to see the impact of continuing down the wrong path and the experience to implement a plan that will benefit America.
Without a doubt, both candidates’ economic plans have to change. Programs they want to roll out will be put on hold. I think McCain understands this better than Obama. The notion that Obama can cut taxes on 95% of the American public is not well thought out. Has anyone stopped to assess the impact of that plan, especially in this time of economic turmoil? If he cuts taxes for 95% of Americans, they’ll only pay for it somewhere else. Obama will have to make up for that lost revenue in other ways. I don’t think the plan he has set out will do anything to encourage American business growth on American soil.
Our next President has a huge task ahead of him, and he must be capable of making very difficult decisions that may not win favor with his party. Our next President also has the task of getting tough with us, the American public. We are partially to blame for the economic troubles we are now faced with. Who bought houses that were too big, too costly and out of our budgets? The government didn’t tell us to do it, we chose to do it. And boy, does it hurt having to be honest with yourself and admit you made a mistake. We only have ourselves to blame for choosing to borrow more and spend more than we earn. It’s basic accounting that many Americans fail to understand. If our expenses are more than our budget, we’re in the red. And, it is very difficult to get back on track and requires many sacrifices on our part to change our spending trends.
As I look toward the next four years, I want a leader who will be able to step across party lines to change how government does business, a leader who will get tough with America and make everyone accountable, both in government and in the public, a leader who understands our economy and national security, a leader who has the experience to get America through a challenging time. A leader who deserves the title President of the United States because he has earned it through countless years of dedicated service. A leader who is in it for the American people….someone with the experience and knowledge to make the right decisions to move this country ahead…. a leader who has already proven himself and can show through concrete example, the many positive changes he has brought about in America. To me, the choice is simple and clear. Only one candidate meets the criteria to be our next President, and his name is John McCain.