Obama Proposes New Business Tax Credits, Suspension Of Tax Penalties
By Justin Gardner | Related entries in 2008 Election, Barack, Economy, McCain, Taxes
While McCain is apparently “rebooting” his campaign with little more than a speech claiming he’s an underdog, Obama is proposing new economic plans.
The Democratic nominee will propose a temporary tax credit for firms that create new jobs in the United States over the next two years, and penalty-free withdrawals from IRAs and 401Ks in 2008 and 2009.He will call for new legislation that would give families the option of withdrawing as much as 15 percent of their retirement savings –- up to a maximum of $10,000 –- without facing a tax penalty this year or next, and a temporary lifting of taxes on unemployment insurance benefits.
The Illinois senator will also call for a 90 day foreclosure moratorium for homeowners acting in good faith, and a new effort to address the growing credit crisis at the state and local level. Under the Obama plan, the Federal Reserve and the Treasury would provide much the same kind of backing to state and municipal governments as the recent federal bailout did to the commercial credit market.
Prediction: McCain’s “reboot” will make him look more erratic. Obama’s new economic plans will make him look steadier.
And with North Dakota (WTF?) now seemingly in play, perhaps Montana and Georgia aren’t far behind?
This entry was posted on Monday, October 13th, 2008 and is filed under 2008 Election, Barack, Economy, McCain, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
October 13th, 2008 at 12:48 pm
About that polling, JG…
I’m not sure where you get most of your info, but this page on Wikipedia shows poll results by state. At one extreme, some states seem to be polled every 72 hours; at the other extreme, some states are polled every three weeks. Is it possible that in some states, big shifts are occurring that we don’t even know about, because nobody’s bothering to go around and check?
Agnostick
agnostick@excite.com
October 13th, 2008 at 1:28 pm
What else is he going to say? His policies shift with the wind.
October 13th, 2008 at 1:44 pm
Conventional wisdom excuses McCain’s trailing poll numbers to the fact that he’s a Republican catching the blame for Bush – like it’s just bad luck for Mack. I think we can put that “meme” to bed. The economy is definitely driving people to Obama because McCain’s erratic behavior is scaring the crap out of everybody – and Obama is spot on. Anyway, I think we’ve seen enough to stop blaming McCain’s bad showing to bad luck. It’s pretty clearly due to an off-message campaign and an erratic candidate, up against a very cool customer with the right message.
October 13th, 2008 at 1:47 pm
[...] I blogged about it earlier, but I think this is pretty much the full video of the speech… [...]
October 13th, 2008 at 6:42 pm
mike, completely agree about McCain’s constantly changing focus and even policy directives. He seems to be continually trying to find that key issue or message that will stick, and his search has left him looking very erratic and without any message whatsoever.
I don’t think this election is as uneven as it seems though. There is still time for McCain to craft a serious message as the economy steadies, and high confidence can lead to low voter turnout, I’d suspect especially among one of Obama’s key demographics, the youth vote.