Thursday, October 30, 2008

How Obama & McCain's Differ In Economy?

ECONOMY is on everyone's mind. Hence, we decide to circulate a superb article published on "The Economist." It summarizes the essential differences between Obama & McCain in growing the economy and why a change is a must.

How Obama and McCain Differ In Growing the Economy

"The 2 political parties currently represent 2 distinctly different ways of growing the economy:

1. Cut taxes for the wealthiest individuals and largest corporations and they will do what is best for the economy as a whole - the top-down, or trickle-down approach.

2. Invest in bottom-up productivity-based growth by building the private sector on a solid foundation that includes providing every American with world-class education and infrastructure, affordable healthcare, markets that work dependably, incentives for investments in innovation and entrepreneurship.

Frankly I think we've tried #1 for long enough, and exhausted whatever potential it had to grow the economy. In 2005, for example, Fortune 500 companies showed record cash balances on their balance sheets. What does that mean? It means they had far more money than they needed and could NOT find enough profitable projects to invest in. And this is happening at the very same time that our schools are crumbling and jobs are being shipped offshore and our bridges are falling. If you look at the big picture and see the US as one country, Americans as one people, and that we all work together to compete in the global economy, how does this represent "what is best for the economy"? How much more proof do we need that trickle-down doesn't work?

If you understand the role that increasing productivity plays in economic growth and wealth creation and increasing competitiveness then you have to go with #2. The logic is overwhelming. That's obviously not to say that Obama will succeed at everything he proposes - but at least he is tackling the problem from the right end, instead of the wrong end! That in itself is a huge improvement. "

Go Obama! A change is a must. When he wins, we win -- for us & our children and for growing the economy!

Sincerely yours,

Kathleen To
President, 80-20 PAC, Inc.

PS: To AsAms in Ohio: Tune in on ASIAN RADIO HOUR, WERE 1490 AM RADIO, Cleveland, Ohio on Nov. 2, Sunday 3 to 4 PM. Anthony Yen, host and producer, will read 80-20's recent e-newsletter "How Works," because he liked it so much. The newsletter also got many other good comments.