Tuesday, September 23, 2008

If Mr. Obama Goes to Washington

In this speech Obama outlines his plan for transparency of government and reformation of government.  I don't know why I had such a hard time locating this video or even a transcript. So, I don't know if you've seen it.
Issues covered:
  • Lobbying- no coming to his admin and working on your former industry for two years.  No leaving his admin and lobbying back to it- ever.
  • Americans can view bills on-line before Obama signs them.  Know which corporations benefit from them.
  • Government wasteful spending- Iraq war, Medicare,  Student Loans, Farm Subsidies
  • Streamlining all government programs- fire managers not getting results, bring private sector management practices into government
  • Loopholes and tax breaks outweigh earmarks.  Corporations with negative tax burdens.  Corporations sending profits offshore to avoid taxes.
  • 95% of working families get tax cut under Obama plan- three times tax relief of McCain for middle income families.  Lower tax rates under Obama than under Reagan.  Seniors will not pay taxes on Social Security. If you're making $50,000 or less.
  •  Financial Markets-
    •  If you (corporation) borrow from the government, you get government oversight/supervision.
    • Reform requirements on all regulated financial institutions.  Investigate ratings institutions conflicts of interest with companies they're rating.  Companies were overvalued.
    • Streamline regulatory agencies
    • Regulate institutions for what they do, not what they are.  Mortgage brokers and companies were doing things they weren't regulated for.  They avoided regulation and got us into trouble.
    • Crack down on trading activities that are actually market manipulation
    • Establish process that identifies risk to financial system.  Know these risks before they turn into crises.

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