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Tuesday, October 28, 2008

Flying 7 days before the election

Okay, the election is next week. Here is a reason to vote:

We want to be represented in our government. We need more diversity in Congress. The fact is that there is only 13% of people of color and 14% women in Congress. In this day and age we should all be represented. We do not want old white men speaking for us. They have been doing that for long enough. Before going to the polls, check out the entire ballot, not just the presidential candidates. What do you know about them? Do your homework and then vote.

Need another reason to vote? Think about the financial crisis.

McCain's view: McCain would eliminate taxes on unemployment benefits, lower the tax rate on Individual Retirement Accounts and 401(k) plans to the lowest rate of 10 percent on the first $50,000 withdrawn and reduce the tax rate on capital gains to 7.5 percent for two years. McCain has proposed a $300 billion plan for the government to buy bad mortgages and renegotiate them at a reduced price. He favors a one-year suspension of requirements that people aged 70 1/2 begin cashing in retirement accounts. And he lobbied fellow lawmakers to support the $700 billion rescue plan.

Obama's view: Obama has proposed a two-year plan offering a $3,000 tax credit to businesses for each new job created would enable people to withdraw up to 15 percent of their retirement money, to a maximum of $10,000, without penalty, except for the usual taxes. He would temporarily extend an expiring tax break that lets small businesses immediately write off investments of up to $250,000, and sweeten small-business loans at a cost of about $5 billion. His campaign estimates the cost of the proposals to be $60 billion. He also favors a mandatory 90-day freeze on some foreclosures. And he lobbied fellow lawmakers to support the $700 billion rescue plan.

Think, decide, and VOTE!

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