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One Week Away from Change in America

Posted by admin On October - 27 - 2008

Barack Obama

Canton, Ohio

One week.

After decades of broken politics in Washington, eight years of failed policies from George Bush, and twenty-one months of a campaign that has taken us from the rocky coast of Maine to the sunshine of California, we are one week away from change in America.

In one week, you can turn the page on policies that have put the greed and irresponsibility of Wall Street before the hard work and sacrifice of folks on Main Street.

In one week, you can choose policies that invest in our middle-class, create new jobs, and grow this economy from the bottom-up so that everyone has a chance to succeed; from the CEO to the secretary and the janitor; from the factory owner to the men and women who work on its floor.

In one week, you can put an end to the politics that would divide a nation just to win an election; that tries to pit region against region, city against town, Republican against Democrat; that asks us to fear at a time when we need hope.

In one week, at this defining moment in history, you can give this country the change we need.

We began this journey in the depths of winter nearly two years ago, on the steps of the Old State Capitol in Springfield, Illinois. Back then, we didn’t have much money or many endorsements. We weren’t given much of a chance by the polls or the pundits, and we knew how steep our climb would be.

But I also knew this. I knew that the size of our challenges had outgrown the smallness of our politics. I believed that Democrats and Republicans and Americans of every political stripe were hungry for new ideas, new leadership, and a new kind of politics – one that favors common sense over ideology; one that focuses on those values and ideals we hold in common as Americans.

Most of all, I believed in your ability to make change happen. I knew that the American people were a decent, generous people who are willing to work hard and sacrifice for future generations. And I was convinced that when we come together, our voices are more powerful than the most entrenched lobbyists, or the most vicious political attacks, or the full force of a status quo in Washington that wants to keep things just the way they are.

Twenty-one months later, my faith in the American people has been vindicated. That’s how we’ve come so far and so close – because of you. That’s how we’ll change this country – with your help. And that’s why we can’t afford to slow down, sit back, or let up for one day, one minute, or one second in this last week. Not now. Not when so much is at stake.

We are in the middle of the worst economic crisis since the Great Depression. 760,000 workers have lost their jobs this year. Businesses and families can’t get credit. Home values are falling. Pensions are disappearing. Wages are lower than they’ve been in a decade, at a time when the cost of health care and college have never been higher. It’s getting harder and harder to make the mortgage, or fill up your gas tank, or even keep the electricity on at the end of the month.

At a moment like this, the last thing we can afford is four more years of the tired, old theory that says we should give more to billionaires and big corporations and hope that prosperity trickles down to everyone else. The last thing we can afford is four more years where no one in Washington is watching anyone on Wall Street because politicians and lobbyists killed common-sense regulations. Those are the theories that got us into this mess. They haven’t worked, and it’s time for change. That’s why I’m running for President of the United States.

Now, Senator McCain has served this country honorably. And he can point to a few moments over the past eight years where he has broken from George Bush – on torture, for example. He deserves credit for that. But when it comes to the economy – when it comes to the central issue of this election – the plain truth is that John McCain has stood with this President every step of the way. Voting for the Bush tax cuts for the wealthy that he once opposed. Voting for the Bush budgets that spent us into debt. Calling for less regulation twenty-one times just this year. Those are the facts.

And now, after twenty-one months and three debates, Senator McCain still has not been able to tell the American people a single major thing he’d do differently from George Bush when it comes to the economy. Senator McCain says that we can’t spend the next four years waiting for our luck to change, but you understand that the biggest gamble we can take is embracing the same old Bush-McCain policies that have failed us for the last eight years.

It’s not change when John McCain wants to give a $700,000 tax cut to the average Fortune 500 CEO. It’s not change when he wants to give $200 billion to the biggest corporations or $4 billion to the oil companies or $300 billion to the same Wall Street banks that got us into this mess. It’s not change when he comes up with a tax plan that doesn’t give a penny of relief to more than 100 million middle-class Americans. That’s not change.

Look – we’ve tried it John McCain’s way. We’ve tried it George Bush’s way. Deep down, Senator McCain knows that, which is why his campaign said that “if we keep talking about the economy, we’re going to lose.” That’s why he’s spending these last weeks calling me every name in the book. Because that’s how you play the game in Washington. If you can’t beat your opponent’s ideas, you distort those ideas and maybe make some up. If you don’t have a record to run on, then you paint your opponent as someone people should run away from. You make a big election about small things.

Ohio, we are here to say “Not this time. Not this year. Not when so much is at stake.” Senator McCain might be worried about losing an election, but I’m worried about Americans who are losing their homes, and their jobs, and their life savings. I can take one more week of John McCain’s attacks, but this country can’t take four more years of the same old politics and the same failed policies. It’s time for something new.

The question in this election is not “Are you better off than you were four years ago?” We know the answer to that. The real question is, “Will this country be better off four years from now?”

I know these are difficult times for America. But I also know that we have faced difficult times before. The American story has never been about things coming easy – it’s been about rising to the moment when the moment was hard. It’s about seeing the highest mountaintop from the deepest of valleys. It’s about rejecting fear and division for unity of purpose. That’s how we’ve overcome war and depression. That’s how we’ve won great struggles for civil rights and women’s rights and worker’s rights. And that’s how we’ll emerge from this crisis stronger and more prosperous than we were before – as one nation; as one people.

Remember, we still have the most talented, most productive workers of any country on Earth. We’re still home to innovation and technology, colleges and universities that are the envy of the world. Some of the biggest ideas in history have come from our small businesses and our research facilities. So there’s no reason we can’t make this century another American century. We just need a new direction. We need a new politics.

Now, I don’t believe that government can or should try to solve all our problems. I know you don’t either. But I do believe that government should do that which we cannot do for ourselves – protect us from harm and provide a decent education for our children; invest in new roads and new science and technology. It should reward drive and innovation and growth in the free market, but it should also make sure businesses live up to their responsibility to create American jobs, and look out for American workers, and play by the rules of the road. It should ensure a shot at success not only for those with money and power and influence, but for every single American who’s willing to work. That’s how we create not just more millionaires, but more middle-class families. That’s how we make sure businesses have customers that can afford their products and services. That’s how we’ve always grown the American economy – from the bottom-up. John McCain calls this socialism. I call it opportunity, and there is nothing more American than that.

Understand, if we want get through this crisis, we need to get beyond the old ideological debates and divides between left and right. We don’t need bigger government or smaller government. We need a better government – a more competent government – a government that upholds the values we hold in common as Americans.

We don’t have to choose between allowing our financial system to collapse and spending billions of taxpayer dollars to bail out Wall Street banks. As President, I will ensure that the financial rescue plan helps stop foreclosures and protects your money instead of enriching CEOs. And I will put in place the common-sense regulations I’ve been calling for throughout this campaign so that Wall Street can never cause a crisis like this again. That’s the change we need.

The choice in this election isn’t between tax cuts and no tax cuts. It’s about whether you believe we should only reward wealth, or whether we should also reward the work and workers who create it. I will give a tax break to 95% of Americans who work every day and get taxes taken out of their paychecks every week. I’ll eliminate income taxes for seniors making under $50,000 and give homeowners and working parents more of a break. And I’ll help pay for this by asking the folks who are making more than $250,000 a year to go back to the tax rate they were paying in the 1990s. No matter what Senator McCain may claim, here are the facts – 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. Because the last thing we should do in this economy is raise taxes on the middle-class.

When it comes to jobs, the choice in this election is not between putting up a wall around America or allowing every job to disappear overseas. The truth is, we won’t be able to bring back every job that we’ve lost, but that doesn’t mean we should follow John McCain’s plan to keep giving tax breaks to corporations that send American jobs overseas. I will end those breaks as President, and I will give American businesses a $3,000 tax credit for every job they create right here in the United States of America. I’ll eliminate capital gains taxes for small businesses and start-up companies that are the engine of job creation in this country. We’ll create two million new jobs by rebuilding our crumbling roads, and bridges, and schools, and by laying broadband lines to reach every corner of the country. And I will invest $15 billion a year in renewable sources of energy to create five million new energy jobs over the next decade – jobs that pay well and can’t be outsourced; jobs building solar panels and wind turbines and a new electricity grid; jobs building the fuel-efficient cars of tomorrow, not in Japan or South Korea but here in the United States of America; jobs that will help us eliminate the oil we import from the Middle East in ten years and help save the planet in the bargain. That’s how America can lead again.

When it comes to health care, we don’t have to choose between a government-run health care system and the unaffordable one we have now. If you already have health insurance, the only thing that will change under my plan is that we will lower premiums. If you don’t have health insurance, you’ll be able to get the same kind of health insurance that Members of Congress get for themselves. We’ll invest in preventative care and new technology to finally lower the cost of health care for families, businesses, and the entire economy. And as someone who watched his own mother spend the final months of her life arguing with insurance companies because they claimed her cancer was a pre-existing condition and didn’t want to pay for treatment, I will stop insurance companies from discriminating against those who are sick and need care most.

When it comes to giving every child a world-class education so they can compete in this global economy for the jobs of the 21st century, the choice is not between more money and more reform – because our schools need both. As President, I will invest in early childhood education, recruit an army of new teachers, pay them more, and give them more support. But I will also demand higher standards and more accountability from our teachers and our schools. And I will make a deal with every American who has the drive and the will but not the money to go to college: if you commit to serving your community or your country, we will make sure you can afford your tuition. You invest in America, America will invest in you, and together, we will move this country forward.

And when it comes to keeping this country safe, we don’t have to choose between retreating from the world and fighting a war without end in Iraq. It’s time to stop spending $10 billion a month in Iraq while the Iraqi government sits on a huge surplus. As President, I will end this war by asking the Iraqi government to step up, and finally finish the fight against bin Laden and the al Qaeda terrorists who attacked us on 9/11. I will never hesitate to defend this nation, but I will only send our troops into harm’s way with a clear mission and a sacred commitment to give them the equipment they need in battle and the care and benefits they deserve when they come home. I will build new partnerships to defeat the threats of the 21st century, and I will restore our moral standing, so that America is once again that last, best hope for all who are called to the cause of freedom, who long for lives of peace, and who yearn for a better future.

I won’t stand here and pretend that any of this will be easy – especially now. The cost of this economic crisis, and the cost of the war in Iraq, means that Washington will have to tighten its belt and put off spending on things we can afford to do without. On this, there is no other choice. As President, I will go through the federal budget, line-by-line, ending programs that we don’t need and making the ones we do need work better and cost less.

But as I’ve said from the day we began this journey all those months ago, the change we need isn’t just about new programs and policies. It’s about a new politics – a politics that calls on our better angels instead of encouraging our worst instincts; one that reminds us of the obligations we have to ourselves and one another.

Part of the reason this economic crisis occurred is because we have been living through an era of profound irresponsibility. On Wall Street, easy money and an ethic of “what’s good for me is good enough” blinded greedy executives to the danger in the decisions they were making. On Main Street, lenders tricked people into buying homes they couldn’t afford. Some folks knew they couldn’t afford those houses and bought them anyway. In Washington, politicians spent money they didn’t have and allowed lobbyists to set the agenda. They scored political points instead of solving our problems, and even after the greatest attack on American soil since Pearl Harbor, all we were asked to do by our President was to go out and shop.

That is why what we have lost in these last eight years cannot be measured by lost wages or bigger trade deficits alone. What has also been lost is the idea that in this American story, each of us has a role to play. Each of us has a responsibility to work hard and look after ourselves and our families, and each of us has a responsibility to our fellow citizens. That’s what’s been lost these last eight years – our sense of common purpose; of higher purpose. And that’s what we need to restore right now.

Yes, government must lead the way on energy independence, but each of us must do our part to make our homes and our businesses more efficient. Yes, we must provide more ladders to success for young men who fall into lives of crime and despair. But all of us must do our part as parents to turn off the television and read to our children and take responsibility for providing the love and guidance they need. Yes, we can argue and debate our positions passionately, but at this defining moment, all of us must summon the strength and grace to bridge our differences and unite in common effort – black, white, Latino, Asian, Native American; Democrat and Republican, young and old, rich and poor, gay and straight, disabled or not.

In this election, we cannot afford the same political games and tactics that are being used to pit us against one another and make us afraid of one another. The stakes are too high to divide us by class and region and background; by who we are or what we believe.

Because despite what our opponents may claim, there are no real or fake parts of this country. There is no city or town that is more pro-America than anywhere else – we are one nation, all of us proud, all of us patriots. There are patriots who supported this war in Iraq and patriots who opposed it; patriots who believe in Democratic policies and those who believe in Republican policies. The men and women who serve in our battlefields may be Democrats and Republicans and Independents, but they have fought together and bled together and some died together under the same proud flag. They have not served a Red America or a Blue America – they have served the United States of America.

It won’t be easy, Ohio. It won’t be quick. But you and I know that it is time to come together and change this country. Some of you may be cynical and fed up with politics. A lot of you may be disappointed and even angry with your leaders. You have every right to be. But despite all of this, I ask of you what has been asked of Americans throughout our history.

I ask you to believe – not just in my ability to bring about change, but in yours.

I know this change is possible. Because I have seen it over the last twenty-one months. Because in this campaign, I have had the privilege to witness what is best in America.

I’ve seen it in lines of voters that stretched around schools and churches; in the young people who cast their ballot for the first time, and those not so young folks who got involved again after a very long time. I’ve seen it in the workers who would rather cut back their hours than see their friends lose their jobs; in the neighbors who take a stranger in when the floodwaters rise; in the soldiers who re-enlist after losing a limb. I’ve seen it in the faces of the men and women I’ve met at countless rallies and town halls across the country, men and women who speak of their struggles but also of their hopes and dreams.

I still remember the email that a woman named Robyn sent me after I met her in Ft. Lauderdale. Sometime after our event, her son nearly went into cardiac arrest, and was diagnosed with a heart condition that could only be treated with a procedure that cost tens of thousands of dollars. Her insurance company refused to pay, and their family just didn’t have that kind of money.

In her email, Robyn wrote, “I ask only this of you – on the days where you feel so tired you can’t think of uttering another word to the people, think of us. When those who oppose you have you down, reach deep and fight back harder.”

Ohio, that’s what hope is – that thing inside us that insists, despite all evidence to the contrary, that something better is waiting around the bend; that insists there are better days ahead. If we’re willing to work for it. If we’re willing to shed our fears and our doubts. If we’re willing to reach deep down inside ourselves when we’re tired and come back fighting harder.

Hope! That’s what kept some of our parents and grandparents going when times were tough. What led them to say, “Maybe I can’t go to college, but if I save a little bit each week my child can; maybe I can’t have my own business but if I work really hard my child can open one of her own.” It’s what led immigrants from distant lands to come to these shores against great odds and carve a new life for their families in America; what led those who couldn’t vote to march and organize and stand for freedom; that led them to cry out, “It may look dark tonight, but if I hold on to hope, tomorrow will be brighter.”

That’s what this election is about. That is the choice we face right now.

Don’t believe for a second this election is over. Don’t think for a minute that power concedes. We have to work like our future depends on it in this last week, because it does.

In one week, we can choose an economy that rewards work and creates new jobs and fuels prosperity from the bottom-up.

In one week, we can choose to invest in health care for our families, and education for our kids, and renewable energy for our future.

In one week, we can choose hope over fear, unity over division, the promise of change over the power of the status quo.

In one week, we can come together as one nation, and one people, and once more choose our better history.

That’s what’s at stake. That’s what we’re fighting for. And if in this last week, you will knock on some doors for me, and make some calls for me, and talk to your neighbors, and convince your friends; if you will stand with me, and fight with me, and give me your vote, then I promise you this – we will not just win Ohio, we will not just win this election, but together, we will change this country and we will change the world. Thank you, God bless you, and may God bless America.

Popularity: 28% [?]

Redistributing Wealth vs. Creating Wealth

Posted by admin On October - 27 - 2008

John McCain

Dayton, Ohio

It’s great to be back in Ohio. We need to win Ohio on November 4th, and with your help we’re going to win here, and bring real change to Washington, DC.

It’s been a long campaign and we’ve heard a lot of words, and great campaign trail eloquence. The amazing thing is that we’ve learned more about Senator Obama’s real goals for our country over the last two weeks than we learned over the past two years. It is amazing that even at this late hour, we are still learning more about Senator Obama and his agenda. He told Joe the plumber right here in Ohio he wants to quote “spread the wealth around.” It’s always more interesting to hear what people have to say in these unscripted moments, and today we heard another moment like this from Senator Obama.

In a radio interview revealed today, he said that one of the quote — “tragedies” of the civil rights movement is that it didn’t bring about a redistribution of wealth in our society. He said, and I quote, “One of the tragedies of the Civil Rights movement was because the Civil Rights movement became so court-focused I think that there was a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalitions of power through which you bring about redistributive change.”

That is what change means for Barack the Redistributor: It means taking your money and giving it to someone else. He believes in redistributing wealth, not in policies that grow our economy and create jobs. He is more interested in controlling wealth than in creating it, in redistributing money instead of spreading opportunity. I am going to create wealth for all Americans, by creating opportunity for all Americans.

We’ve all heard his campaign trail promise: he says he only wants to tax the rich. But these unscripted moments and his record tell a different story. He supported the Democratic budget plan passed just this year that called for raising taxes on people making just 42,000 dollars per year. And Senator Obama has voted 94 times for tax increases or against tax cuts.

Senator Obama may say he’s trying to soak the rich, but it’s the middle class who are going to get put through the wringer, because even the tax increase he admits to misses the target. To pay for nearly a trillion dollars in new government spending, his tax increase would impact 50 percent of small business income in this country, and the jobs of 16 million middle class Americans who work for those small businesses.

Whether it’s Joe the Plumber here in Ohio or the working men and women across this country, we shouldn’t be taxing our small businesses more as Senator Obama wants to do, we need to be helping them expand their businesses and create jobs. America didn’t become the greatest nation on earth by giving our money to the government to “redistribute.” In this country, we believe in spreading opportunity, for those who need jobs and those who create them. And that is exactly what I intend to do as President of the United States.

My opponent’s massive new tax increase is exactly the wrong approach in an economic slowdown. The answer to a slowing economy is not higher taxes, but that is exactly what is going to happen when the Democrats have total control of Washington. We can’t let that happen. We need pro-growth and pro-jobs economic policies, not pro-government spending programs paid for with higher taxes.

This is the fundamental difference between Senator Obama and me. We both disagree with President Bush on economic policy. The difference is that he thinks taxes have been too low, and I think that spending has been too high. Senator Obama’s priority is not to get spending under control, it is to spend more, and if he has to tax you to do it, he’s shown in the past that he doesn’t have a problem with that.

We cannot spend the next four years as we have spent much of the last eight: spending ourselves into a ditch and hoping that the consequences don’t come. We need to get our government under control, and we need to get our economy moving again. We have to act. We need a new direction, and we have to fight for it.

I’ve been fighting for this country since I was seventeen years old, and I have the scars to prove it. If I’m elected President, I will fight to shake up Washington and take America in a new direction from my first day in office until my last. I’m not afraid of the fight, I’m ready for it.

I’m not going to spend $750 billion dollars of your money just bailing out the Wall Street bankers and brokers who got us into this mess. I’m going to make sure we take care of the working people who were devastated by the excesses of Wall Street and Washington.

I have a plan to hold the line on taxes and cut them to make America more competitive and create jobs here at home. We’re going to double the child deduction for working families. We will cut the capital gains tax. And we will cut business taxes to help create jobs, and keep American businesses in America. Raising taxes makes a bad economy much worse. Keeping taxes low creates jobs, keeps money in your hands and strengthens our economy.

If I’m elected President, I won’t spend nearly a trillion dollars more of your money. Senator Obama will. And he can’t do that without raising your taxes or digging us further into debt. I’m going to make government live on a budget just like you do.

I will freeze government spending on all but the most important programs like defense, veterans care, Social Security and health care until we scrub every single government program and get rid of the ones that aren’t working for the American people. And I will veto every single pork barrel bill Congresses passes.

If I’m elected President, we’re going to stop spending $700 billion to buy oil from countries that don’t like us very much. Senator Obama will argue to delay drilling for more oil and gas and against building new nuclear power plants in America. If I am president, we will start new drilling now. We will invest in all energy alternatives — nuclear, wind, solar, and tide. We will encourage the manufacture of hybrid, flex fuel and electric automobiles. We will invest in clean coal technology. We will lower the cost of energy within months, and we will create millions of new jobs.

Let me give you the state of the race today. There’s eight days to go. We’re a few points down. The pundits have written us off, just like they’ve done before. My opponent is working out the details with Speaker Pelosi and Senator Reid of their plans to raise your taxes, increase spending, and concede defeat in Iraq. He’s measuring the drapes, and he’s planned his first address to the nation for before the election. I guess I’m old fashioned about these things I prefer to let the voters weigh in before presuming the outcome.

What America needs now is someone who will finish the race before the starting the victory lap … someone who will fight to the end, and not for himself but for his country.

I have fought for you most of my life, and in places where defeat meant more than returning to the Senate. There are other ways to love this country, but I’ve never been the kind to back down when the stakes are high.

I know you’re worried. America is a great country, but we are at a moment of national crisis that will determine our future.

Will we continue to lead the world’s economies or will we be overtaken? Will the world become safer or more dangerous? Will our military remain the strongest in the world? Will our children and grandchildren’s future be brighter than ours?

My answer to you is yes. Yes, we will lead. Yes, we will prosper. Yes, we will be safer. Yes, we will pass on to our children a stronger, better country. But we must be prepared to act swiftly, boldly, with courage and wisdom.

I’m an American. And I choose to fight. Don’t give up hope. Be strong. Have courage. And fight.

Fight for a new direction for our country. Fight for what’s right for America.

Fight to clean up the mess of corruption, infighting and selfishness in Washington.

Fight to get our economy out of the ditch and back in the lead.

Fight for the ideals and character of a free people.

Fight for our children’s future.

Fight for justice and opportunity for all.

Stand up to defend our country from its enemies.

Stand up, stand up, stand up and fight. America is worth fighting for. Nothing is inevitable here. We never give up. We never quit. We never hide from history. We make history.

Now, let’s go win this election and get this country moving again.

Popularity: 49% [?]

WASHINGTON — Federal agents have broken up a plot to assassinate Democratic presidential candidate Barack Obama and shoot or decapitate 88 black people in a Tennessee murder spree, the Bureau of Alcohol, Tobacco, Firearms and Explosives said Monday.

In court records unsealed Monday, federal agents said they disrupted plans to rob a gun store and target a predominantly African-American high school by two neo-Nazi skinheads. Agents said the skinheads didn’t identify the school by name.

Jim Cavanaugh, special agent in charge of the Nashville field office for the ATF, said the two men planned to shoot 88 black people and decapitate another 14. The numbers 88 and 14 are symbolic in the white supremacist community.

The men also sought to go on a national killing spree, with Sen. Obama as its final target, Mr. Cavanaugh told the Associated Press.

“They said that would be their last, final act — that they would attempt to kill Sen. Obama,” Mr. Cavanaugh said. “They didn’t believe they would be able to do it, but that they would get killed trying.”

An Obama spokeswoman traveling with the senator in Pennsylvania had no immediate comment.

The men, Daniel Cowart, 20 years old, of Bells, Tenn., and Paul Schlesselman 18, of West Helena, Ark., were being held without bond. Agents seized a rifle, a sawed-off shotgun and three pistols from the men when they were arrested. Authorities alleged the two men were preparing to break into a gun shop to steal more.

Attorney Joe Byrd, who has been hired to represent Mr. Cowart, didn’t immediately return a call seeking comment Monday.

Messrs. Cowart and Schlesselman are charged with possessing an unregistered firearm, conspiring to steal firearms from a federally licensed gun dealer, and threatening a candidate for president.

The investigation is continuing, and more charges are possible, Mr. Cavanaugh said.

Popularity: 19% [?]

Alaska Senator Is Convicted on Corruption Charges

Posted by admin On October - 27 - 2008

WASHINGTON (AP) — Alaska Sen. Ted Stevens was convicted of seven corruption charges Monday in a trial that tainted the 40-year Senate career of Alaska’s political patriarch.

The verdict, coming just days before Election Day, adds further uncertainty to a closely watched Senate race. Democrats hope to seize the once reliably Republican seat as part of their bid for a filibuster-proof majority in the Senate.

Stevens, 84, was convicted of all seven charges he faced of lying about free home renovations and other gifts he received from a wealthy oil contractor. Jurors began deliberating Wednesday at noon.

Stevens faces up to five years in prison on each count when he is sentenced Jan. 26, but under federal sentencing guidelines, he is likely to receive much less prison time, if any.

The monthlong trial revealed that employees for oil services company VECO Corp. transformed the senator’s modest mountain cabin into a modern, two-story home with wraparound porches, a sauna and a wine cellar. Stevens never paid for VECO’s work.

The Senate’s longest-serving Republican, Stevens said he had no idea he was getting freebies. He said he paid $160,000 for the project and said he believed that covered everything.

Stevens asked for an unusually speedy trial, hoping he’d be exonerated in time to return to Alaska and win re-election. He kept his campaign going and gave no indication that he had a contingency plan in case of conviction.

Despite being a convicted felon, he is not required to drop out of the race or resign from the Senate. If he wins re-election, he can continue to hold his seat because there is no rule barring felons from serving in Congress. The Senate could vote to expel Stevens on a two-thirds vote.

“Put this down: That will never happen — ever, OK?” Stevens said in the weeks leading up to his trial. “I am not stepping down. I’m going to run through and I’m going to win this election.

Democrats, who are hoping to capture a filibuster-proof Senate majority, have jumped at the chance to seize the once reliably Republican seat. They have invested heavily in the race, running television advertisements starring fictional FBI agents and featuring excerpts from wiretaps.

Stevens’ conviction hinged on the testimony of Bill Allen, the senator’s longtime drinking and fishing buddy. Allen, the founder of VECO, testified that he never billed his friend for the work on the house and that Stevens knew he was getting a deal.

Stevens spent three days on the witness stand, vehemently denying that allegation. He said his wife, Catherine, paid every bill they received.

Living in Washington, thousands of miles away, made it impossible to monitor the project every day. Stevens relied on Allen to oversee the renovations, he said, and his friend deceived him by not forwarding all the bills.

Stevens is a legendary figure in Alaska, where he has wielded political influence since before statehood. His knack for steering billions of dollars in federal money to his home state has drawn praise from his constituents and consternation from budget hawks.

Popularity: 21% [?]

America’s Choice Now

Posted by mom4truth On October - 27 - 2008


We still have one week, guys! God is a God who is able to do “immeasurably more than we could ever ask or imagine”. Spread this around and let’s defeat this liberal senator before he brings upon us the day of Sodom. This video says it all…

Popularity: 27% [?]

Obama vs. McCain: It’s About Your Money

Posted by admin On October - 26 - 2008

As the financial crisis has worsened and the economy has deteriorated, basic pocketbook issues — taxes, jobs, retirement — have taken center stage in the presidential race between Democrat Barack Obama and Republican John McCain.

When the new president “comes to town in January, he’ll have to work on the short-term stimulus to the economy, and the longer-term plans may get deferred,” says Clint Stretch, managing principal of tax policy at Deloitte Tax. “But the issue isn’t the economic-recovery package and what the budget looks like in 2009, but what it will look like come 2012.”

With less than two weeks to go before Election Day, Sunday Journal takes a look at the candidates’ positions on the issues that will most affect your family’s finances. We culled information from party position papers on Web sites, speeches and nonpartisan third-party reports.

Short-Term Economic Relief

To respond to voters who want immediate economic help, both candidates have proposed specific plans on how to jump-start the economy in 2008 and 2009.

Sen. Obama proposes a $1,000 Emergency Energy Rebate to families ($500 for individuals) and penalty-free withdrawals of 15% from 401(k)s and IRAs up to $10,000. He also wants to temporarily suspend minimum distribution requirements for retirement accounts.

Sen. McCain proposes cutting the capital-gains rate on stock held for more than a year to 7.5%. He also would increase the amount of stock loss that is deductible against ordinary income from $3,000 to $15,000, and would tax withdrawals by seniors from IRAs and 401(k)s no more than 10%.

Income Taxes

Both candidates pledge to lower taxes overall, but the key point to the debate is who will be paying the bills.

Sen. Obama favors tax cuts for middle-class workers and tax increases for top earners — families that make more than $250,000 and individuals making more than $200,000 a year. He wants to extend most of the 2001 and 2003 Bush tax cuts, but raise the top two marginal rates to 36% and 39.6%.

Sen. Obama wants to eliminate taxes on seniors making less than $50,000 a year and to provide a “Making Work Pay” tax credit of 6.2% of the first $8,100 in wages (about $500) for individuals earning less than $75,000 a year. Outside analysts estimate that the top 1% of wage earners would see an average tax increase of $19,000.

Sen. McCain wants to permanently extend all 2001 and 2003 Bush tax cuts, raise the personal exemption for each dependent from $3,500 gradually over several years to $7,000 and keep the top tax rate at 35%, leaving “upper-income taxpayers” with “the most to gain under McCain’s plan,” according to a report by Deloitte Tax. The nonpartisan Urban-Brookings Tax Policy Center estimates that the top 1% would see a tax cut of more than $125,000.

Estate Taxes and AMT

Both candidates support extending the Alternative Minimum Tax’s 2007 “patch” exemption levels and index for inflation, and changing the federal estate-tax law to make the $2 million per-person exemption ($3.5 million next year) portable or transferable from one spouse to another.

Sen. Obama wants to freeze the 2009 estate-tax structure, which taxes roughly 0.3% of estates — those valued above $3.5 million per person — at a top rate of 45%. According to Deloitte Tax, a $5 million estate would pay a tax of $675,000 under this plan.

Sen. McCain has proposed a 15% estate tax (down from the current 45%) on roughly 0.2% of estates, those valued at more than $5 million per person. A $5 million estate would pay nothing under this plan, Deloitte Tax notes.

Health Care

According to a report by the nonpartisan health-policy analysis and consulting firm Lewin Group, a unit of insurer UnitedHealth Group, average spending on health care in 2010 will be $4,407 per family. Both candidates want to expand access to affordable health care.

Sen. Obama proposes income-related subsidies for health insurance through a new national exchange, along with expanded access to Medicaid and the State Children’s Health Insurance Program, and mandatory care for children. He would require employers that don’t offer health coverage to contribute a percentage of payroll toward the national plan, with small businesses being exempt (and eligible for refundable tax credits on 50% of premiums).

Under this plan, premium payments for families would fall by about $185 and direct payments for health services by $253. The Lewin Group projects the Obama plan would reduce the number of uninsured by 26.6 million people in 2010, from 48.9 million.

Sen. McCain wants to replace the current income-tax exemption for health-insurance premiums paid by employers with a refundable tax credit of $5,000 per family ($2,500 for individuals). Any unused credit could be deposited into a Health Savings Account. His Guaranteed Access Plan (GAP) would allow people denied coverage to obtain insurance through state-run high-risk pools administered by private insurers, according to a report issued by the Joint Center for Political Economic Studies. Sen. McCain wants to allow people to purchase insurance across state lines, which could reduce the effectiveness of state regulations.

Under this plan, premium payments for families would increase by about $379 and direct payments for health services by about $105. “This would be more than offset by a net increase in tax subsidies of $1,570″ and wage gains resulting from employer savings, the Lewin Group says.

The Lewin Group projects that the McCain plan would reduce the number of uninsured by 21.1 million people.

Investments

Both candidates offer plans to support small businesses, but they offer different strategies for capital gains, dividends and retirement savings that will affect investors.

Sen. Obama wants to eliminate all capital-gains taxes on start-ups and small businesses but raise the top long-term capital-gains rate on securities and qualified dividends from 15% to 20% for families making more than $250,000 a year ($200,000 for individuals). He wants to tax carried interest as ordinary income.

Sen. McCain calls for maintaining the 15% top tax rate on dividends and long-term capital gains.

Retirement & Social Security

Both candidates have moved to temporarily suspend the requirement that people over age 70¬? tap their retirement accounts, but neither candidate has offered a substantial long-term plan to overhaul the way Americans save for retirement.

Sen. Obama wants to institute a 2% to 4% payroll tax on incomes above $250,000, split between employer and employee. It would take effect in 10 years or more. He also proposes a retirement-security plan to automatically enroll workers in a workplace pension plan.

Employers that don’t offer a retirement plan would be required to enroll employees in a direct-deposit individual retirement account. Sen. Obama also proposes a saver’s credit to match 50% of the first $1,000 of savings for families earning less than $75,000.

Sen. McCain favors privatizing Social Security in programs that allow younger workers to place a portion of their payroll taxes into personal accounts invested in the market.

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