Democrats – Obama’s Jobs Plan

• Progressive income tax Pro: more tax revenue

Con: not fair to wealthy; many loopholes to get out of paying full tax amount

• Tax credit for first-time home buyers Pro: improves housing market

Con: expensive in short run

Obama’s Jobs Plan (cont’d)

• Money to improve infrastructure Pro: repairs old structures; creates jobs

Con: lengthens projects to maintain jobs; expensive

• Personal tax cuts Pro: increases spending

Con: much of what we buy comes from outside U.S. → positive effects weakened

Republicans

• Reduce federal regulations until unemployment drops

Pro: eliminates regulations that are stifling job creation Con: too few regulations could cause problems like corruption

• Eliminate Environmental Protection Agency Pro: extremely expensive to fund all of the EPA projects

(i.e. greener factories) Con: environment facing many problems, like global warming, that we need to fix before its too late

Republicans – Cain’s 9-9-9 Plan

• 9% personal income tax, 9% sales tax and 9% corporate income tax

Pro: simpler than current tax system; flat tax for individuals & businesses; shifts taxation from production to consumption Con: adds national retail sales tax on top of income tax; creates possibility of adding a Value Added Tax , which is unknowingly built into the price of everything

Response All voters Republicans Democrats Independents

Approve 39% 63% 14% 43%

Disapprove 51% 30% 73% 49%

Not sure 10% 7% 14% 7%

Republican Presidential candidate Herman Cain is proposing a change in the federal tax code to replace current personal income and business tax rates with a flat 9% rate on both, and to also have a 9% national sales tax. Do you approve or disapprove of this plan Cain calls "9-9-9"?

Zogby©

Bibliography• Bivins, Larry. "Lawmakers See Pros, Cons in President Barack Obama's

Debt-reduction Plan." Postcrescent.com. Gannett, 20 Sept. 2011. Web. 2 Jan. 2012. <http://www.postcrescent.com/article/20110920/APC0101/109200428/Lawmakers-see-pros-cons-President-Barack-Obama-s-debt-reduction-plan>.

• Center on Budget and Policy Priorities. Center on Budget and Policy Priorities, 2012. Web. 03 Jan. 2012. <http://www.cbpp.org/>.

• Clancy, Dean. "Herman Cain's "999 Plan": The Good, the Bad, and the Ugly." FreedomWorks | Lower Taxes, Less Government, More Freedom. FreedomWorks, 6 Oct. 2011. Web. 02 Jan. 2012. <http://www.freedomworks.org/blog/dean-clancy/herman-cains-999-plan-the-good-the-bad-and-the-ugl>.

Bibliography (cont’d)

• DNC Services Corporation. Democrats - Change That Matters. Democratic National Committee, 2011. Web. 03 Jan. 2012. <http://www.democrats.org/>.

• Lincoln, Blanche, and Dan Danner. "Open Letter to President Obama." Small Businesses for Sensible Regulations. National Federations of Independent Business, 1 Nov. 2011. Web. 03 Jan. 2012. <http://www.sensibleregulations.org/2011/11/open-letter-to-president-obama/>.

• Mascaro, Lisa. "Super Committee Fails to Agree on Deficit-reduction Plan." Featured Articles From The Los Angeles Times. 21 Nov. 2011. Web. 03 Jan. 2012. <http://articles.latimes.com/2011/nov/21/news/la-pn-super-committee-20111121>.

• Newport, Frank. "Americans Favor Obama Jobs Plan by 45% to 32%." Gallup.Com. Gallup, Inc, 14 Sept. 2011. Web. 02 Jan. 2012. <http://www.gallup.com/poll/149447/Americans-Favor- Obama-Jobs-Plan.aspx>.

Bibliography (cont’d)

• RNC: Republican National Committee | RNC: Republican National Committee | GOP. Republican National Committee, 2011. Web. 03 Jan. 2012. <http://www.gop.com/index.php>.

• Roth, Zachary. "Cain Tweaks 9-9-9 Plan — for Poor, It’s 9-0-9." Yahoo! News. Yahoo! Inc, 21 Oct. 2011. Web. 02 Jan. 2012. <http://news.yahoo.com/blogs/lookout/cain-tweaks-9-9-9-plan-poor-9-180537832.html>.

• Schiermeyer, Corry. "IBOPE Zogby Poll: 51% Disapprove of Cain's 9- 9-9 Tax Plan & 48% Believe It Would Raise Their Taxes." IBOPE | Zogby International. Zogby International, 27 Oct. 2011. Web. 02 Jan. 2012. <http://www.zogby.com/news/2011/10/27/ibope-zogby-poll-51- disapprove-cains-9-9-9-tax-plan-48-believe-it-would-raise-their-taxes/>.

• Taylor, Timothy. "History of the U.S. Economy in the 20th Century." The Great Courses. The Teaching Company, LLC. Web. 03 Jan. 2012. <http://www.thegreatcourses.com/tgc/courses/course_detail.aspx?cid=529>.

• The Cato Institute. Cato Institute, 03 Jan. 2012. Web. 03 Jan. 2012. <http://www.cato.org/>.

Bibliography (cont’d)

• U.S. Congress Joint Economic Committee. United States Congress, 2010. Web. 03 Jan. 2012. <http://jec.senate.gov/public/>.

• U.S. National Debt Clock : Real Time. Usdebtclock.org, 2012. Web. 03 Jan. 2012. <http://www.usdebtclock.org/index.html>.

• World Development Indicators Database. "Gross Domestic Product 2010." World Bank, 1 July 2011. Web. 3 Jan. 2012. <http://siteresources.worldbank.org/DATASTATISTICS/Resources/ GDP.pdf

• Wyss, David. "Obama's Stimulus Plan: Hits and Misses." Businessweek. 18 Feb. 2009. Web. 02 Jan. 2012.<http://www.businessweek.com/investor/content/feb2009/pi20090218_706099.htm>.

• "Year-End Review." Business News & Financial News - The Wall Street Journal - Wsj.com. Dow Jones & Company, Inc., 2011. Web. 03 Jan. 2012. <http://online.wsj.com/public/page/quarterly-markets-review.html>.