Economy

Economy is a very big issue in this presidential election. Barack Obama and Joe Biden first plan to jump-start the economy. They will do this by putting windfall taxes on big oil companies and give Americans an emergency $1,000 to help with bills. Obama and Biden will also put 50 billion dollars into the economy. 25 billion dollars will go into state funds to prevent cuts in important areas such as education or health care. The other 25 billion will go into a Jobs and Growth fund to save over 1 million jobs from being cut. Another plan that Obama and Biden have is to cut taxes for the middle class working families. They will also get rid of income taxes for seniors who make less than 50,000 a year. Making tax filings for the middle class simpler is also part of the plan. As president Obama will fight for free trade and try to amend the North American Free Trade Agreement. Obama and Biden will end tax breaks for the companies that send jobs overseas, and reward the companies that support the American worker. Going green is very important to Obama and Biden. They will focus on the manufacturing sector and create 5 million new green jobs. Investing in the next generation and job creators is one way they will do this. The manufacturing extension partnership funding will be doubled, and there will be new job training for clean technologies. They will invest in the clean energy economy, put more into the renewable energy sector and create 5 million new green jobs. Obama and Biden will also add new jobs by the national infrastructure. They will create a National Infrastructure Reinvestment Bank that will expand and enhance federal investments. Obama and Biden will invest in the sciences. They will make the tax credit on research and development permanent, and they will start the next generation broadband. Small and start-up businesses are very important to Obama and Biden. That is why small and start-up businesses will get tax relief, and they will get rid of capital gains on these businesses. Also, Obama and Biden will invest in incubators that help entrepreneurs create start-up companies. If you create more jobs, then you also have to protect the workers, and that is what Obama and Biden are going to do. They want to protect striking workers, and they will give workers the right to organize and unionize. They will also raise the minimum wage. It is bad when people can't pay their mortgage, and Obama and Biden want to make it so that no one will have that problem. They plan to create a mortgage credit, make accurate loan disclosure mandatory, close the bankruptcy loophole that mortgage companies have created, and ensure that the mortgage companies are more accountable. Also, they will start a credit card Bill of Rights to protect customers, and improve disclosure by making a credit card rating system. One of the main goals of Obama and Biden is to make sure that people don't go into debt, or get out of it. They will do this by reforming the bankruptcy laws, encouraging banks to give out small consumer loans, and reform laws to protect families with medical crisis's. One final point of Obama and Biden's economic plan is that they want to create family and work balance. They want to make sure that everyone can have health insurance, people can have paid leave, and that working parents can send their children to high-quality child care and after school programs.