I've been tough on the Obama culters so in the spirit of open-mindedness, I'm excerpting some passages on policy from his speech yesterday at the Janesville, Wisconsin General Motors Assembly Plant. He goes well beyond catch phrases and motivational slogans.
I’ll change our tax code so that it’s simple, fair, and advances opportunity, not the agenda of some lobbyist. I am the only candidate in this race who’s proposed a genuine middle-class tax cut that will provide relief to 95% of working Americans. This is a tax cut –paid for in part by closing corporate loopholes and shutting down tax havens – that will offset the payroll tax that working Americans are already paying, and it’ll be worth up to $1000 for a working family. We’ll also eliminate income taxes for any retiree making less than $50,000 per year, because our seniors are struggling enough with rising costs, and should be able to retire in dignity and respect. Since the Earned Income Tax Credit lifts nearly 5 million Americans out of poverty each year, I’ll double the number of workers who receive it and triple the benefit for minimum wage workers. And I won’t wait another ten years to raise the minimum wage – I’ll guarantee that it keeps pace with inflation every single year so that it’s not just a minimum wage, but a living wage. Because that’s the change that working Americans need.
My universal health care plan brings down the cost of health care more than any other candidate in this race, and will save the typical family up to $2500 a year on their premiums. Every American would be able to get the same kind of health care that members of Congress get for themselves, and we’d ban insurance companies from denying you coverage because of a pre-existing condition. And the main difference between my plan and Senator Clinton’s plan is that she’d require the government to force you to buy health insurance and she said she’d ‘go after’ your wages if you don’t. Well I believe the reason people don’t have health care isn’t because no one’s forced them to buy it, it’s because no one’s made it affordable – and that’s what we’ll do when I am President.
If we want to train our workforce for a knowledge economy, it’s also time that we brought down the cost of a college education and put it within reach of every American. I know how expense this is. At the beginning of our marriage, Michelle and I were spending more to payoff our college loans than we were on our mortgage. So I’ll create a new and fully refundable tax credit worth $4,000 for tuition and fees every year, a benefit that students will get in exchange for community or national service, which will cover two-thirds of the tuition at the average public college or university. And I’ll also simplify the financial aid application process so that we don’t have a million students who aren’t applying for aid because it’s too difficult.
With so many mothers and fathers juggling work and parenting, the next cost we have to bring down is the cost of living in a two-income family. I’ll expand the child care tax credit for people earning less than $50,000 a year, and I’ll double spending on quality afterschool programs. We’ll also expand the Family Medical Leave Act to include more businesses and millions more workers; and we’ll change a system that’s stacked against working women by requiring every employer to provide seven paid sick days a year, so that you can be home with your child if they’re sick.
In addition to cutting costs for working families, we also need to help them save more – especially for retirement. That’s why we’ll require employers to enroll every worker in a direct deposit retirement account that places a small percentage of each paycheck into savings. You can keep this account even if you change jobs, and the federal government will match the savings for lower-income, working families.
Finally, we need to help families who find themselves in a debt spiral climb out. Since so many who are struggling to keep up with their mortgages are now shifting their debt to credit cards, we have to make sure that credit cards don’t become the next stage in the housing crisis. To make sure that Americans know what they’re signing up for, I’ll institute a five-star rating system to inform consumers about the level of risk involved in every credit card. And we’ll establish a Credit Card Bill of Rights that will ban unilateral changes to a credit card agreement; ban rate changes to debt that’s already incurred; and ban interest on late fees. Americans need to pay what they owe, but they should pay what’s fair, not what fattens profits for some credit card company.
Wonky! Quite unlikely Obama can deliver on some of this. Make minimum wage a living wage and index it to inflation? It would probably be easier to add a hammer and sickle to the flag. But he's on the right track for sure.