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Objectives
U.S. popular vote: Bush 59.4m (51.5%)
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2004 Election: Bush 286, Kerry 252 U.S. popular vote: Bush 59.4m (51.5%) |
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We project at 5 am on November 5 that Obama will win with 364 electoral college votes to only 174 votes for McCain.
We believe that Barack Obama will govern as a moderate and will hold off with increasing taxes on the wealthiest by letting the fiscally irresponsible Bush tax cuts that were directed to the highest income Americans just expire in 2010. The base of the Republican Party and right-wing talk show hosts appears to be under-educated white Americans. We fear that this election will lead to the granting of amnesty to most illegal aliens. These illegal aliens will not pay income taxes because the poor do not pay income taxes but receive tax refunds because of the refundable earned income credit and the refundable child credit. This site was updated on November 2, 2008 with two new 2008 Counters. The owner of this site supported John McCain through 2004. John McCain was a maverick and right when he opposed the Bush tax cuts as being too biased toward the wealthiest Americans. I believe that you should cut taxes during an economic contraction and raise taxes during an economic expansion. The original tax cut in early 2001 was fiscally irresponsible because it was designed to return the ''surplus'' to the taxpayers. In October 2006, I privately asked John McCain a simple question: "Do you think that there is any time when it would be fiscally responsible to raise taxes?" He replied: "No." I then asked him: "Don't you think it would necessary to raise taxes to save Social Security?" He replied: "We have to address Social Security". The implication was that he would be open to raising taxes if that was necessary to save Social Security. In recent years, John McCain has been right on one issue, the surge in Iraq. He now supports the Bush trickle-down economic philosophy. He says he is not Bush, but McCain's economic plans and most of his economic advisors are closely tied to the Bush. Neither candidate is addressing two of the most important issues threatening our economic future: the huge unfunded liabilities in both Social Security/Medicare and the impact of illegal immigration. As an experienced tax professional I think both are wrong to expand tax benefits to families by increasing the child tax credit and the Earned Income Tax Credit that allows poor people to receive a refundable tax credit against their FICA contributions or payroll taxes. None of the socialist leaning European countries have a tax system that so favors families with children as we do. This site has never endorsed a political candidate for President until now. We halfheartedly endorse Barack Obama for President primarily because of his eloquence and because he would not continue the Bush policies. We are most impressed by his economic team of Paul Volcker, Larry Summers, Warren Buffett, Robert Reich and Robert Rubin. We need this economic team to turn around the economy. Colin Powell's reasons for endorsing Barack Obama was also significant. We think that Barack Obama is wrong on wanting to grant amnesty to illegal immigrants and thinking that Americans should be learning Spanish rather that requiring all immigrants to learn English. The owner of this site is a retired CPA and Chartered Financial Analyst. He was a consultant to the National Office of the Internal Revenue Service, head of National Tax Training at Coopers & Lybrand (now Price Waterhouse Coopers), and a technical editor at the American Institute of CPAs. In a former career he was an electrical engineer who worked on the Saturn guidance system for NASA and a systems leader who designed and helped develop the worldwide Supply & Transportation System for Exxon. His training in taxes and economics at MIT and NYU's graduate schools of Business and Law has convinced him that it is possible to engineer a new tax system. After the election, please visit his website at TaxReform.Net to learn more about this new tax system. |