What Voters Should Know BEFORE They Vote

Investor’s Business Daily published a summary of the issues and how each candidate stands on that issue. The “bullet points” are listed below. The actually article has links to other articles that substantiate each point. I encourage you to go and read it online and click on the various links. Online: What Voters Should Know BEFORE They Vote.

While you’re at it, reading frantically about the election, my personal favorite commentator, Thomas Sowell, wrote two penetrating articles yesterday: Obama, Powell & Popularity AND Ego and Mouth

Quick Facts: Financial Crisis

  • Democrats created the mortgage crisis by forcing banks to give loans to people who couldn’t afford them.
  • In 2006, McCain sponsored a bill to fix the problems with Fannie Mae and Freddie Mac. Barney Frank and other Democrats successfully opposed it.
  • Obama was one of the highest recipients of Fannie Mae and Freddie Mac donations in Congress.

Quick Facts: Taxes

  • Under Obama’s tax plan, the percentage of tax filers who pay zero federal income tax would rise from 33% to 44%, leaving the bill to the remaining 56%. Already, 5% of earners pay 60% of all taxes.
  • Obama proposes a 33% increase in the capital gains tax as a matter of “fairness”, despite historical evidence that raising this tax decreases revenue. McCain has proposed cutting the capital gains tax in half to spur growth.
  • Obama wants to increase corporate taxes by 25%, although U.S. businesses already pay the second-highest marginal tax rates in the industrialized world.

Quick Facts: Iraq

  • When the U.S. was on the verge of losing in Iraq, McCain chose to stand and fight. Obama chose retreat.
  • Even after the surge succeeded, Obama told ABC’s Terry Moran he would still oppose it if he had the chance to do it all over again.

Quick Facts: Defense

  • Obama has promised to significantly cut defense spending, including saying “I will slow our development of future combat systems.”
  • John McCain has vowed: “We must continue to deploy a safe and reliable nuclear deterrent, robust missile defenses and superior conventional forces that are capable of defending the United States and our allies.”

Quick Facts: Background & Character

  • Obama voted “present” 135 times as a state senator, and according to David Ignatius of the Washington Post, “gained a reputation for skipping tough votes.”
  • McCain has taken stances unpopular with his own party and/or the public on controversial issues, including immigration, campaign finance reform, judicial nominations, the Iraq War and more.

Quick Facts: Judges & Courts

  • In a 2001 interview, Obama said he regretted that the Supreme Court “didn’t break free from the essential constraints that were placed by the Founding Fathers in the Constitution.”
  • In the same interview, Obama criticized the Supreme Court because it “never ventured into the issues of redistribution of wealth and sort of more basic issues of political and economic justice in this society.”
  • Obama has focused on empathy, rather than legal reasoning and restraint, as his basis for appointing judges, saying, “We need somebody who’s got the heart, the empathy…to understand what it’s like to be poor, or African-American, or gay, or disabled, or old.”
  • McCain opposes judicial activism, saying, “my nominees will understand that there are clear limits to the scope of judicial power.”

Quick Facts: Energy

  • McCain has proposed building 45 new nuclear plants by 2030 and is in favor of drilling in sectors of the Outer Continental Shelf.
  • Obama has refused to take a stand, saying only “we should explore nuclear power as part of the energy mix” and he will “look at” drilling offshore.
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