The Collegian
Tuesday, March 28, 2023

Obamanomics: Economic policy for the future

Richmond College '10

The coming presidential election may be later recognized as the most influential election in American history. And now, as our economy is balancing on its pinky toe at the edge of an unstable cliff with hurricane winds at its back, we have to take the economy as one of the most important decision-making factors in this election, if not the most important. Obama has a comprehensive plan that will prepare America for the future, and give us a second try at starting the 21st century right.

One of the big complaints I hear about a possible Obama presidency is: "He's going to increase everyone's taxes and the economy will collapse!"

So, I will try to clear up the entire taxing issue as it relates to Obama. Obama is cutting taxes for lower-class Americans, so they may have the resources to survive better on minimum-wage jobs. Obama is cutting taxes for middle-class Americans so they can afford to educate their children and keep their houses. Obama is maintaining current tax rates for the wealthy earning up to $250,000. Obama is only increasing taxes on individuals who make more than $250,000, which in the scope of the country, is not a large percentage of people.

"The small businesses will suffer!" No, all small businesses are getting tax breaks, and will be able to provide more benefits to their employees without sacrificing profits. Big businesses will see some tax increases, but only as components of modified regulator programs.

As we've witnessed recently, American big business does not always function responsibly, and I'll admit that faulty government regulations in some aspects may not have helped. But Obama understands which aspects of business should be let free and which need to be regulated to ensure economic stability and progress. He will change these programs to better the big businesses and small businesses alike.

Another problem many politicians have when trying to work on the economy is limiting their economic tools to the economy's anatomy. Many only think the economy can be fixed with economic words such as "taxes," "government spending," "Federal Reserve," and "interest rates" while there are truly a lot more tools. Education is one of those major tools. Did you know America is one of the last first world nations without a universal preschool program and that Obama wants to plant the seeds to start one?

Such programs as this and Obama's well-known college funding program would vastly increase America's education level across the board, and a more educated work force is a more productive and innovative work force for the economy. Think about all the long-term economic benefits of programs like these, which you wouldn't think of as economic policy at first.

We need a new economic strategy, a perceptive intuitive approach, one that can only be carried out by a man with the intellectual curiosity to find the best solutions to the problems we face today: Sen. Barack Obama. The economy is not a weak point for Democrats; it never has been. FDR saved the country from certain chaos; Clinton launched the economy through the technological age and won both of his terms primarily due to his economic knowledge. We need a leader with the similar yet unique insights that can guide our country back to a respectful place on the international stage, and provide safety and growth for American families. Let's use new strategies, let's keep everything in scope of the grand picture, let's recognize we're in trouble, and the best way out of that trouble, is to vote for Sen. Barack Obama for President.

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