How does Obama plan to fix the economy?

You're right on.

I think people are missing the idea of who is really going to create drastic and helpful change in this country. You call McCain "McSame", but in all actuality, Obama is the one you should be giving this title to. Let me explain.

In addition to proposing tax cuts, McCain is supporting research for alternative energy sources (tidal, nuclear, solar, etc), and also drilling in ANWR. Since we spend $55.1 billion annually on foreign oil (money that goes to the construction of indoor ski resorts in Dubai), we obviously need to be formulating an energy independence plan. McCain proposes this. In addition, he proposes that once we become energy independent, we can lower trade barriers and create successful markets with China and India, two nations economically on the rise, and two countries effectively using the American dollar. This global trade system is called globalization, and if you do not know anything about globalization, I would recommend reading the book, "The World Is Flat" by Thomas Friedman. He is a writer for the New York Times, an Independent, and he supports globalization for the strengthening of the American economy. The reason that lowering trade barriers is such a beneficial opportunity for American citizens is that it creates more jobs with higher wages, and it also lowers insurance rates. Globalization is a new endeavor, and offers the drastic change that the American economy needs. And the best part...McCain has drawn out a clear plan for how we should implement it.

Obama, like you said, proposes to drastically improve the economy by raising taxes, and creating labor unions and bureaucracies. Socialism. An old system. And according to Marx, a transitional system before the takeover of communism. Labor unions may give health benefits, but they also allow you to keep very little of the fruits of your labor, because government must claim most of it. Likewise, the more money you spend on taxes, the more money you give to the government, and the less power you have as an American citizen to choose your own destiny and pursue individual opportunity. Socialism will cause personal initiative to be quelled, especially with regards to doctors, who, if Obama socialized medicine (and he says that he will), would lose the initiative to become doctors on account of decreased wages, which would in turn cause our medical system to lose prestige. There is a reason why people travel to America to have operations done, and we don't want to lose that reason.

In regards to improving the economy by searching for alternative energy sources, or by drilling to alleviate our unnecessary spending on foreign oil, Obama has no plan at all. Oh wait...except for filling tires to the correct PSI and possibly tapping into the Strategic Petroleum Reserve (not sure about that one though...bc his opinion on it was different two weeks ago). Idealism at best. So he essentially does not support the United States becoming energy independent, and he intends to keep spending $55.1 billion on foreign oil. Change, America! Change! Bullsh*t, Obama! Bullsh*t!

On top of this, he has said he will not lower trade barriers, but will in fact enforce protectionism, which would hinder the involvement of the United States in foreign markets that would create new jobs with high wages that would also lower insurance costs. Obama claims that the negative aspect of globalization is the exploitation of labor unions in offshoring factories or on plantations. First of all, he's a hypocrite if he's against offshoring labor unions and simultaneously in support of unions on American soil. Secondly, if we support just the domestic job market and refuse to involve ourselves in the global market, how can, say, exploited coffee farmers in Ethiopia, actually benefit? We Americans hold onto our textile and simple industrial jobs for dear life, when instead they could be exported across the border, resulting in a net gain for everyone (people there at least have a paying job, which are hard to come by, and people here get a cheaper product). Protectionism actually hurts your Ethiopian workers more than globalization will. When Ethiopian coffee is protected in price we run into problems much like Soviet Russia and Communist China ran into in the 60s. Farmers were guaranteed high food prices if they met a certain quota of food to produce for the government. If they did not produce the required amount of food, they simply did not eat. They starved. The genocide in Ukraine under Stalin caused the death over over 20 million Russians. All because of this idealistic notion of protectionism. And of course...communism was at the root of it all.

So essentially...Obama will not participate in the global market, will support the dangerous idea of protectionism, and in turn will take away our individual initiative and opportunity. Good job. Good plan.

Lol I'm sorry but I think Obama's a flaming communist idiot with an Anti-America chip on his shoulder that will essentially run this country into the ground and leave us scratching our heads.

McCain 2008 all the way...for DRASTIC economic change...and a realistic plan for how to achieve it.

The ads may be a bit of a stretch, but McCain admitted in an interview last year that he needs help with the economy because it interests him less than foreign policy.

As for the tax cuts, they are fine as an economic stimulus, but as with any stimulus, there is a balancing point. The best way to illustrate that is with exaggeration, that is imagine what would happen if the government stopped collecting taxes altogether. People and corporations would have more money to spend and invest, but the growth in government debt would suck up all the capital that is generated by the tax cuts. This would push up interest rates and kill the dollar. That's no good. The bottom line is that tax cuts are fine, but they must be balanced against the need for government revenue. Since the federal budget has not shrunk in more than 50 years, it is unreasonable to just simply assume that tax cuts will go hand in hand with spending cuts. Reagan couldn't do it, Bush 41 couldn't do it, and now Bush 43 didn't do it. And government spending cuts create a drag on the economy, partially reversing the advantages of a tax cut.

Then there's the opposite idea, that tax increases hurt the economy. Arthur Laffer used exaggeration to generate support for that idea by imagining what happens to the economy if tax rates go to 100%. That is obviously bad also. Although a tax increase in the upper income levels reduces investable capital, the reduction in government debt that comes from the tax increases frees up capital. Again, we have a balance. You can look at the economic prosperity from 1993, when taxes on upper income groups were raised, through 2001, when they were lowered, to see that there was no negative effect on the economy. In fact, the economy boomed, and the federal budget generated a surplus.

I think McCain's tax cut ideas go way beyond the tipping point. He simply can't cut spending enough to keep the deficit from spiraling out of control. Obama's tax cuts probably go too far also, but certainly less so than McCain's. At least Obama's tax cuts go to the middle and lower classes, who tend to spend extra money, while raising taxes on the wealthy, who tend to save and invest their extra income. But again, the higher taxes on the wealthy are balanced by the reduced need for government debt.

With all of that said, I vote Obama. His tax policy is better, and I think McCain is just like Bush 41, who was way too interested in foreign policy to effectively manage the economy.

I fully agree. Obama is hoping the american people are stupid enough to fall for his tax and spend policy that will lead to the destruction of this country. All anyone needs to do if they want to see the results of democratic control is look at NY State. The highest taxed state, the welfare capitol of the country, the least job growth, and no promise of any change. And the state budget is in the red. Thats years of democratic control. Hillary promised 250.000 new jobs for western NY and not 1 job materialized. The dems are good at promises and sucking people in with false hope, but thats where it ends. Once if office they do nothing. And when called on it, they blame the federal government. Carbama promises big things that will never come to fruition-in fact it would cripple our economy.

That's something that baffles me too. For some reason a lot of people believe he can do better with the economy. Why? I have no idea. I can only guess that it's bad education at the hands of biased civics and economics teachers in high school, or just that the democrats are better at propaganda.

Now that's a lot of tax he's planning on giving us. LIES, LIES LIES. Yepp. I guess that's how Obama is going to stay in is to inform uninformed people the wrong thing. George Bush was not out of touch either. But yes, you are exactly right. lol, "car bomber".

Honestly, ARE there any improvements he's gonna do do try and fix the economy. I can't think of any... hm?

So according you you Bush's tax cuts have worked right? Have you watched the news the past to days? Have you gone to the grocery store lately, or filled up your tank with gas? You must not know anyone who has lost thier job either? I don't see how you can say that Bush's tax cuts are working.

And you are wrong..Obama does not want to raise your taxes unless of course you make more than 250,000.

The Liberals are blaming Bush for the the Financial crisis, and most don't even know that Clinton deregulated the financial Industry. The media certainly will not tell them.

http://tpmcafe.talkingpointsmemo.com/talk/2008/03/...

Both parties are to blame, but raising taxes (Capital Gains, Payroll, and taxes on retirement accounts) will compound the issue.

Zap: Capital gains, payroll taxes, and taxes on Dividends (retirement accounts!!!!) are taxes on the Middle Class. Those are not lies. It's his plan. Socialism.

People who make 250K already pay an enormous amount of taxes. Don't forget that. I am appalled how Liberals are fine with taxing the other guy because "he has it". Maybe not. He might already be taxed to death.

-- raise taxes on the "rich" who are also small business owners/employers. Problem is that this will kill the economy. Tax cuts = increase revenues!

-- raise taxes on oil companies so that oil prices will go down -- BULL! Increase gas costs will cause inflation since that affects everything

Do what they did in Michigan. In an economic slowdown raise the taxes. And boy has it worked, we have the highest unemployment rate the only state with an increase the poverty rate this year.

And borrowing money from China is being financially stable?

They've done a good job at distracting you with short-term meaningless stuff.

Think of the bigger picture, we are going downhill. The economy is falling before your eyes at home and now it's starting to take it's toll on the world.