Show McCains McCain's economic plan Andy Atwood Contributing Writer With the American economy in a spiraling downfall we cannot but look at the upcoming presidential election Who will take America out of this crisis Who will create jobs And who will help the consumer and people of America Some of the main issues seem to be relief for American families che cheap p clean secure energy for America and taxes According to the McCains McCain's Economic Plan he states that he will create millions of good American jobs ensure e our nations nation's energy security get the governments government's budget and spending practices in order and bring relief to American consumers Read each of the sections below to learn how the McCain Economic Plan will help bring reform prosperity and peace to America McCains McCain's plan for taxes is to keep the top income tax rate at 35 percent maintaining the 15 percent rates on dividends and capital gains and a phase- phase out of the Alternative Minimum Tax He will look to cut the corporate tax rate from 35 to 25 percent Currently America has the second highest corporate tax rate in the world This makes America a less attractive place for companies to do business McCains McCain's plan for relief for families in the form of gas and food consists of policies to increase the American dollar our dependence on foreign oil and a summer gas tax holiday Under the Plan McCain states that America will no longer become dependent on foreign oil which will provide lower prices at our gas pumps He is also proposing a summer gas tax holiday where wherefrom wherefrom wherefrom from Memorial Day to Labor Day Congress will suspend the federal gas tax By doing so it will immediately affect us all The current federal gas tax taxis taxis taxis is cents per gallon and that will really add up The last issue that is a hot topic is energy for America Finding a cheap clean and secure source of energy will play an important role for the rise of America McCain believes that the way of the future is nuclear power He will put the country on track to construct 45 nuclear power plants by 2030 with the ultimate goal being The construction of the power plants would create roughly thousand jobs for the construction engineering operation and maintenance of the power plants This would definitely help decrease the unemployment rate in America Expanding our oil and gas will be crucial in inthe inthe inthe the success of America Currently there are over 77 trillion cubic feet of natural gas and 18 billion barrels of crude oil trapped in the Outer Continental Shelf In Ina a current America where families are struggling for forto forto forto to afford gas food and other necessary items why are we exporting hundreds of billions of dollars to buy energy Keeping the dollars in America will lessen our foreign dependency and reduce our trade deficit as much as 41 percent which is currently due to oil importing Transportation is America it makes our world go round allowing us to export and import goods from other countries McCain has proposed a million prize to be awarded to the development of a battery that has the size capacity cost and power to leapfrog the current electric cars This is a small price to pay for breaking our dependence on oil 1 |