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Monday, November 3, 2008

McCain vs. Obama (none of the above)

I will make this disclosure first, I am an independent and I find myself more in line with the libertarian party. I agree with Larry Elder when he says that there is not much difference between the two parties. I also would like to recommend that people read two books by Larry Elder, "Showdown" and "The Ten Things You Can't Say in America".

With that being said I feel both candidates are very similar when it comes to policies. They both came out and supported this bailout plan which is going to cost billions. Where does this money come from? Yes you guessed it, it comes from our taxes. The market will always correct itself but we come from a society that is always looking for the quick fix. The other day I heard an economist say that we are still paying for FDR's "New Deal" and now they are talking about a "New Deal 2". Many economist argue that government involvement actually prolongs the recovery process. I believe it because the government is trying to get involved in price fixing. Prices were too high and now they are coming down to what the market can really support.

Many of our crashes if not all were driven by greed. Greed in a lot of ways is like Love, because they both blind us from making rational decisions. The Great Depression happened only after a market run that inflated stock prices. People were purchasing stocks with borrowed money and when the market turned south they just didn't have the money to meet the margin calls. This sounds very familiar to the present housing crisis we are having. People started to buy homes with no money down thinking that the market was never going to stop going up. When some of these lenders started to demand that people make more than the negative amortization payment then they walked away from their homes. Then came the snowball effect and it is getting so bad that even people who invested large sums of money are beginning to walk away.

I was convinced to vote for the libertarian candidate and I still might because I just can't bring myself to vote for either one of the candidates because they are both about spending and taxing. I do believe that the McCain camp has it right by saying they should continue to cut taxes and reduce spending but the support of the bailout proved that he is willing to jump on the bandwagon just like everyone else and support misappropriation of funds. Let's face it not one of these executives of these financial institutions is going to reduce their salaries or bonuses in what could be perceived as one of the worst years in regards to performance.

Senator Obama is a very likable individual. He is very elegant and presidential. The message his camp is sending is for change and hope. What has he really done that convinces me that he can offer change for the better and hope that we are not attacked again. Will terrorists find a way to establish cells in the U.S. with a president that welcomes them with open arms. We will continue to be a target to terrorist governments that oppose democracy. We have a system that works but we are slowly moving our democratic and capitalist country to a socialist one. We have to get rid of our progressive tax system and reduce taxes all around to encourage investment and spending. This is how a market corrects itself.

Our president is commander in chief first and our country's job is to protect us. I would rather take that fight over there and help those people establish their own democracies so that we can have a friendlier global environment. President Bush is a man that the media and everyone else loves to hate but we have not been attacked since 9/11. He has done a great job at spreading democracy overseas but some of his biggest mistakes were out of control spending and encouraging sub-prime lending. We were entering a recession when he first took office and reducing taxes created a recovery but business cycles have to take their course and eventually the recession would find it's way back.

My point is that either candidate will have a very tough first term. I am sure that confidence levels will go up with whoever wins because people have lost their faith with the current president. I will vote libertarian because I believe that this is the next party that will eventually get this country back on the right track. It will not happen overnight but it has to begin somewhere. We need to get back to the fundamentals and what our founding fathers intended for this country and we need to get away from big government. I will pray for both candidates and I will support my new president but I would like to encourage everyone to read and research on your own and let your voice be heard. This is our personal responsibility.

If Senator McCain can actually reduce taxes and reduce spending then I believe he is better for our country. Senator Obama's plan of giving taxes back to middle income people is flawed because the majority of taxes is paid by the top 10% income earners. We should really abolish the IRS and our progressive tax system.

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