Economic Philosophy

All American people are trying to figure out what are the clear differences between the candidates in this campaign. I think one of the clearest differences is in their economic philosophies.

McCain, as many neoconservative Republicans do and some neoliberal Democrats, supports an economic theory which gives tax breaks to companies and wealth members of our communities without market regulation and oversight. This "trickle down" theory is clearly not working though.





If we didn't see it before, this economic crisis on Wall Street clearly shows that when given power and money people and companies do not share their wealth, nor do they regulate themselves, they become corrupt and buy luxury goods. This is discussed by NY Times financial reporter Gretchen Morgenson on NPR, Fresh Air, September 23, 2008 and addressed in the book American Social Welfare Policy by H. J. Karger and D. Stoesz.

On the other side, there is a theory of bottom up or grassroots economics. This theory espouses that when people in lower and middle income brackets are given more access to services, education, and money they will pursue higher education, invest, and acquire assets. These actions will benefit the individual but also stabilize the economy and the country as a whole. I think this approach is ideal for our economy because it does not contradict our independent American ideals nor human nature. This approach provides average American families the opportunity to better themselves and their families. Isn't that what we all want to do?

This 'grassroots economics' is what Obama has described on the campaign trail. Obama was quoted on NPR, All Things Considered, September 15, 2008 · "Today offers more evidence, Colorado, that too many folks in Washington and on Wall Street weren't minding the store," Obama said. "For eight years we've had policies that have shredded consumer protections, loosened oversight and regulation and encouraged outsized bonuses to CEOs while ignoring middle-class Americans." Obama says he doesn't blame McCain for these problems, but he does blame the economic philosophy that he says McCain subscribes to. "It's the same philosophy we've had for the last eight years — one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else," Obama said. (To hear the full commentary click the NPR link.)

It seems clear that the outdated economic theories and out-of-touch candidates, as well as their advisers, stand to irreparably damage the American public and middle America. 1% of the wealthiest Americans own over 50% of the nations wealth. Our wage gap is increasing every day between CEOs and the people 'in the trenches.' When are we going to put an end to this abuse and create a nation where the American dream is alive and well again?!

I want the American people's constitutional rights honored. It seems that the systems we live with fuzz the lines between church and state, give more power to private companies than the American people, and protects an economic model designed to raise a minority to the lap of luxury while the majority pays the price. I'm sick of it!!

I want a president in office who's going to protect the Average American. If someone thinks the high prices of gas, the massive numbers for foreclosures, and the outrageous cost of health care is 'all in my head' or not too big a deal, they're not the President for me. If someone thinks that the economic philosophies that have been at the root of our economy for the past 8 years should continue, then they're not the President for me. I want real change. Change I will see on Main Street.
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