In Thomas Friedman’s recent New York Times article ‘Go big, Mr. Obama’ he lays out a three phase plan for national economic reforms, and subsequently a second term for President Obama.
His article focused on the need for President Obama to take political risks and not focus on bad mouthing his Republican Presidential opponent in 2012. From the information I gathered reading two of Obama’s books, The Audacity of Hope and Dreams From my Father, it doesn’t seem like portraying his opponents in a negative light is a major part of his campaigns.
Mr. Friedman’s plan for Obama is simple, phase one:
“First, he’d be proposing a deficit-cutting plan that matches the scale of our problem — one with substantial tax reform and revenue increases, a gasoline tax, deep defense cuts and cutbacks to both Social Security and Medicare.”
This would basically mean implementing the bipartisan drawn National Commission on Fiscal Responsibility and Reform scheme. Otherwise known as the Simpson-Bowles plan.
“Second, he’d offer a plan in which the wealthy have to pay their fair share and more, because they’ve had a great two decades. But everyone, including the middle class, has to contribute something. This has to be a national effort.”
Obama’s original tax plan when elected as President was that the top 2%, those who earn over $250,000 per annum, would be paying the same amount if not less than they would have in the ‘90’s. At 36%.
In September this year, Obama along with Warren Buffett proposed the ‘Buffett plan’. Which is designed to review the amount of tax paid by the top 1%, those who earn over $1 million per annum. Which constitutes 450,000 Americans. The tax plan would mean making sure the higher bracket of American earners did not pay less than those of the middle and lower classes.
“Third, he would offer a plan that is aspirational. It would not just be a roadmap to balancing the budget but to making America great again through reignited economic growth.”
The American Job’s Act is one attempt that President Obama has made to stimulate the economy. However, the bill continues to get blocked by the hard headed Republicans that seem focused on staying right away from any form of bipartisanship. Rather than worrying about what’s good for the American economy. With regards to cutting the deficit, there doesn’t seem to be a solution in the foreseeable future. With The United States Congress Joint Selection Committee also known as The Super committee unable to agree on a plan, due to partisan differences.
America is lucky to have such a charismatic, eloquent, clever and fair President in Barack Obama. There is no doubt that the plans Obama is trying to implement are well thought out thorough investments in the prosperity of The United States. If more Republicans took Obama’s approach of putting aside partisan differences and working towards fixing the real problems the nation faces, maybe there would be a plan in place to fix the specter that is the $14 trillion deficit.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com