McCain Reveals Economic Plan

On Tuesday, Oct. 14, 2008, just one day after Barack Obama, Senator John McCain released his $52.5 billion economic plan aimed at easing financial distress on the nation’s workers, unemployed and elderly.

McCain strongly criticized Obama’s previously proposed policies, and stated that Obama, who has proposed tax cuts for 95 percent of American families, would actually raise taxes. McCain proposed that people ages 59 and up who withdraw money from IRAs or 401(k) retirement plans in 2008 and 2009 pay a tax rate of 10 percent on the money rather than their higher normal rates.

“Not everyone has 401(k)’s or retirement plans. It seems that McCain is only proposing to take care of the wealthier half of America. Obama is at least talking about catering to the majority; the middle and lower classes,” said New York City public school teacher, Eileen Byrne.

That part of the plan would cost $36 billion, based on the McCain campaign’s estimation. He is proposing a reduction in the tax on long-term capital gains to 7.5percent from 15 percent in 2009 and 2010 at an estimated cost of $10 billion.

McCain is also striving for speeding up the process in the tax write-off for stock losses, allowing Americans to subtract $15,000 in losses a year for the tax years 2008 and 2009, and current rules allow deductions up to $3,000 in losses. Along with that, he is pushing for a suspension on the tax on unemployment insurance benefits in 2008 and 2009, and a government guarantee on 100 percent of all savings accounts for six months.

“It sounds like it would be very beneficial. I know it’s cheaper than Obama’s plan, and I wonder where the money to fund these plans is coming from. At least McCain somewhat explained how the process of the tax deductions would work,” said ex-New York Police Officer, Patricia Mullins.

Will Obama's Economic Plan Help Americans?

On Monday, October 13, Democratic presidential nominee, Barack Obama unveiled his new economic proposals to address the current economic crisis, despite the October 3rd passing of the Senate’s revised $700 billion bailout plan

Obama is calling for temporary but costly new programs to help employers, automakers, homeowners, the unemployed, and state and local governments. He has proposed giving employers a $3,000 tax credit for each new employee to encourage job creation. He said he would seek to allow Americans of all ages to borrow from retirement savings without a tax penalty, to eliminate income taxes on unemployment benefits and to double, to $50 billion, the government’s loan guarantees for automakers.

Obama called on the Treasury and the Federal Reserve to lend money to cities and states with economic problems. He also proposed a 90-day moratorium on home foreclosures, which would require financial institutions that take government help not to act against homeowners who are at least trying to make payments.

The total cost of the full economic plan is estimated at around $175 billion, including $60 billion for the steps more recently announced. Of the earlier $115 billion, $50 billion would be used to help states to speed the construction of roads and other projects that create jobs. The other $65 billion would be the cost of a second round of rebates to taxpayers this year.

Pat O’Brien is a hard working blue collar man of New York City, who supports his family of three on an automobile mechanic’s modest salary. Along with his wife, Marie, they combine to make $50,000 annually. Marie recently received a new job as a secretary at Manhattan College, and she is looking forward to receiving the $3,000 tax credit from Obama’s plan.

The O’Brien’s currently rent their small, two-bedroom co-operative apartment in the North Bronx, and for years, Pat has been trying to save up and acquire loans so he and his family can afford to buy the apartment and own in permanently. Due to Obama’s $50 billion guaranteed loans to automakers, this dream is looking more and more possible. The moratorium will no doubt help the O’Brien’s and give them more time to make payments on their newly owned home.

Pat and Marie have made it clear that they will be voting for Obama in the upcoming election, and his new economic plan provides them and many other American families with security and peace of mind.

Looking for Secretary of the State

Middle aged African American man looking for an attractive middle aged Caucasian woman with a stable family, as well as an open mind and Democratic values. She must be well educated and a good speaker who gets the point across. One must fully support a universal health care plan in which everybody is in, and nobody is left out. One must be aware of the implications of Roe vs. Wade, and should agree for health insurance to cover female contraceptives. She must feel that child safety locks should be on all firearms, and must oppose the sale or transfer of semi-automatic weapons while increasing restrictions on purchasing of firearms. One must be in favor of a tax cut for the poor and middle class. Lastly, one should strive for higher pay for teachers; pay based on merit, and should oppose vouchers being used for private schools, because it undermines public schools. All these beliefs and characteristics would make a great Secretary of the State and would greatly help serve the country.

A Ray of Hope - Interactive Narratives

Through ESPN, Interactive Narratives published a link to a story about Jason Ray, a former mascot for the North Carolina Tar Heels who was killed alongside a road in New Jersey before a UNC basketball game. This package talks about his life, his death and his decision made long ago to donate his organs. Besides this piece being very emotional, it was done very well. Interactive narratives posts the link to the story with a short, provocative passage and a picture and title that caught my eye. Being a big fan of college basketball, I immediatley recognized the story when I saw the picture of Jason in his mascot costume. The story highlights his life, the unfornuate circumstances of his tragic death and the reprocussions, and the few people whose lives have been saved because of Jason's organs. The page is very graphic and there are many links to click on so you can watch vidoes, photo galleries and podcasts. Despite the passages being somewhat long, the piece is well mapped out and enhances the readers interest in the story. The many pictures throughout the story also help piece together everything for lazy readers who only want to skim the story. Overall, this is a great piece for interactive narratives to list on their website.

sports.espn.go.com/espn/eticket/story?page=rayofhope