Strategy For Economic Growth




Here is a transcript of the second part of John McCain's speech to the Green Bay Chamber of Commerce. This message needs to get out to the voters!

“All of these measures will calm and help us to avoid future panics and disasters in the financial markets. But to get through this tough time for America, and to come out stronger, we need a strategy of economic growth. And the massive new tax burden that my opponent plans for the American economy is exactly the wrong answer. His tax increase -- along with the enormous new federal programs he proposes -- are the surest way to turn a recession into a depression. In every respect, the Obama tax hikes would make things even worse for the working people of this country.

I have proposed, and will sign into law, an economic recovery plan for working Americans that is directed to the middle class. It will grow this economy, create millions of jobs and bring opportunity back to Americans. You will get a tax policy that creates family prosperity and allows you to save for the future. I will not raise your taxes on income or investments. And we will simplify the tax code so people can understand it and do their tax returns themselves.

I will give every family a $5,000 credit to buy their own health insurance policy and let them chose their own doctor. This will make insurance affordable to every American.

I will double the child exemption from $3,500 to $7,000 to help families pay for the rising cost of living.

Under my plan, a married couple with two children making $35,000 will get $5,000 to pay for health insurance and additional medical expenses. This family would get another $1,050 from my child exemption. That adds up to over $6,000. That is a lot more than what any hardworking middle class family, gets under the Obama plan.

Business taxes will be cut from the second highest in the world at 35 percent to 25 percent. Tax incentives will spur investment in new plants and equipment. Research and development incentives will keep companies on the cutting edge of their industries. Healthcare costs will diminish. Companies will stop sending jobs overseas to low-cost, low-tax countries and start creating jobs here in America.

I will expand markets for our goods and services. A one in five of all jobs in this country are linked to world trade. In five states alone Pennsylvania, Ohio, Michigan, Wisconsin and Colorado over 5 million jobs depend on trade. My economic recovery plan will create millions of jobs in America instead of driving them overseas.

I will adopt an "all of the above" energy policy which expands our use of oil, natural gas, clean coal and nuclear facilities. We will embark on a national mission to build an alternative energy base, creating millions of new jobs. We will create the most diversified energy economy in the world. And, I will return to the American economy the $700 billion dollars we send overseas every year to buy oil.

My opponent offers a very different economic future. He has continuously shifted his position on taxes. At the beginning of this campaign he promised to raise taxes on your savings and investments. He said he won't raise taxes for most people but he has voted 94 times in his short Senate career for tax increases and against tax cuts. He said he would only tax the rich, but he voted this year to raise taxes on those making just $42,000. Senator Obama has simply not given Americans good reason to trust him with your tax dollars.

My opponent is against lowering taxes on businesses which are the second highest in the world. He will impose mandated health insurance on businesses that would cost up to $12,000 per employee. He opposes free trade. He also wants to take away the fundamental right of workers to have a secret ballot when voting to be part of a union.
Now is not the time for these destructive policies that will cripple business growth, destroy jobs and hurt the middle class. Now is the time to take action to address this crisis and take action to put our economy back on a path of growth.

Even though Democratic leaders say they don't know what to do, I believe the deep problems afflicting our financial system won't be solved by one political party. There is only one candidate in this race who has a record of reaching across the aisle to work out the bipartisan solutions needed to move our country forward in times of crisis -- and I will bring that same spirit of bipartisan cooperation to the White House. It took members of both parties to get America into this mess, and it will take all of us, working together, to lead the way out.”






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