Barack Obama - You can do better!
Barack Obama recently gave his State of the Union speech to Congress, but I was not impressed with what he had to say. Let me begin by saying that I am a Republican and that I voted for Obama in 2008. I was very happy that he won because I thought that it would be a new voice in Washington. I thought that a Democrat would also come in and get rid of some of the Bush tax cuts, which I thought and still think is neccessary. I went into the speech planning on voting for Obama, even though I have only be luke warm about the job he has done as President of the United States. My thoughts are now beginning to change.
Let me begin by saying that there are things that Obama has done well during his presidency. First and foremast, he was the commander-in-cheif who was responsible for having Osama bin Laden killed. This will hopefully provide a sense of safety to the world. He was also responsible for helping in the bailout of both the auto and banking industries. I also think that Obama has done as well and as poorly as any other President would have regarding jobs. With the auto and banking industries crumbling, it is a very tough time for employment.
Now on to what I did not like about the speech and his term in general. I feel as though Obama is trying to get the uninformed voters to believe that anyone who is wealthy and successful is a bad citizen. He goes on to say why should the Effective Tax Rate of a CEO be less than his secretary. While the ETR might be lower, the higher salary is still going to mean that he is paying more taxes. Much of his tax speech I believe covertly danced around the fact that Republican candidate recently had an ETR of just 14%.
While Obama can talk all he wants to about infrastructure and clean energy, his resume differs from his actions. Obama cut funding to clean energy programs during his first term. U.S. infrastructure is some of the worst in the world among first world countries. They were recently graded as a "D" according to a government study. While China and India are spending 8% on infrastructure, we are spending just 2%. If he really want to do something, add funding here. This will create jobs and make U.S. roads and bridges safer.
I also want Obama to make a major reform to the tax code. There is no reason that those making more money should be forced to pay a higher tax rate. First, repeal the alternative minimum tax. It's an old tax in which the income level has not been raised. The U.S. should put its efforts into a flat tax accross all individual income levels. This way no one should be able to complain about tax rates. The U.S. should also had significant incentives to employers who create jobs in the United States. It will increase profits and add jobs. This will hopefully improve production and technology, while at the same time helping out Wall Street.
I hope if Obama has a second term he gets more accomplished than just words. New tax codes, new employment, new energy is what is needed.