Obama vs. Romney: Where They Stand

OBAMA ROMNEY VS ***** WHERE THEY STAND ON THE ISSUES THE NATIONAL DEBT Fourth-straight year of trillion-dollar deficits is projected. Won approval to raise debt limit to avoid default. Calls for tackling the debt with a mix of spending cuts and revenue increases. Central to Obama's plan is to let Bush-era tax cuts expire for couples making more than $250,000. BUS CUTS Defended 2008 bailout of financial institutions as a necessary step to avoid the system's collapse, opposed the automotive bailout. Would cap federal spending at 20 percent of gross domestic product by end of first term, down from 23.5 percent now, with largely unspecified spending cuts. Favors constitutional balanced budget amendment. AUTOMOTIE THE ECONOMY Term marked by high unemployment, a deep recession, and gradual recovery. Responded to recession with a roughly $800 billion stimulus plan. Continued implementation of Wall Street and auto industry bailouts begun under George W. Bush. Proposes tax breaks for U.S. manufacturers producing domestically or repatriating jobs from abroad, and tax penalties for U.S. companies outsourcing jobs. $800 BILLION DOLLARS STIMULUS PLAN Lower taxes, less regulation, balanced budget, more trade deals to spur growth. Wants to replace jobless benefits with unemployment savings accounts. Proposes repeal of the law that toughens financial industry regulations after the meltdown in that sector, and the law tightening accounting regulations in response to corporate scandals. BALANCED BUDGET TAXATION Wants to raise taxes on the wealthy and ensure they pay 30 percent of their income at minimum. Wants to let the top two tax rates go back up 3 to 4 percentage points to 39.6 percent and 36 percent, and raise rates on capital gains and dividends for the wealthy. Health care law provides for tax on highest value health insurance plans. Together with Congress, built a first-term record of significant tax cuts. TAXES 30% HIGHER TAX RATES FOR THE WEALTHY Keep Bush-era tax cuts for all inconmes and LOWER TAX RATES drop all tax rates by 20 percent bringing the top rate down to 28 percent and the lowest rate to 8 percent. Curtail deductions, credits and exemptions for the wealthiest. End Alternative Minimum Tax for individuals, eliminate capital gains tax for families making below $200,000 and cut corporate tax to 25 percent from 35 percent. Does not specify which tax breaks or programs he would curtail to help cover costs. FOR EVERYONE 8% TAXES BARACK OBAMA THE OBAMA PLAN TO FIX THE US. ECONOMY Under President Obama, we've seen 31 straight months of job growth, adding 5.2 million private sector jobs, including nearly 500,000 manufacturing jobs – the most growth since 1997. President Obama will eliminate tax breaks for companies that outsource jobs overseas and instead provide incentives for companies that create jobs in America. Make tax cuts for the middle class permanent – under the President, the average American family saved $3600 in taxes over the past four years. He plans to double exports and create one million new manufacturing jobs. Will call on Congress to build on our success as the world's leading manufacturer in high-tech batteries and to extend tax credits that support clean energy manufacturing 31 $3600 5.2 AVERAGE AMOUNT AMERICAN FAMILIES SAVED IN TAXES OVER THE LAST CONSECUTIVE MILLION JOBS ADDED 1,000,000 NEW MANUFACTURING JOBS TO BE CREATED MONTHS OF JOB GROWTH FOUR YEARS MITT ROMNEY THE ROMNEY PLAN TO END THE U.S. HOUSING CRISIS In his plan to correct the U.S. housing crisis, Mitt Romney proposes to: Responsibly sell the 200,000 vacant foreclosed homes owned by the government Facilitate foreclosure alternatives for those who cannot afford to pay their mortgage • Replace complex rules with smart regulation to hold banks accountable Any serious plan for ending the housing crisis must address its root cause. Two government-sponsored companies known as Fannie Mae and Freddie Mac were at the center of the housing crisis. Mitt Romney will reform these government-sponsored companies to protect taxpayers from additional risk in the future by ensuring taxpayer dollars in the housing market are replaced with private dollars. Romney cautioned that QE3 "would damage the dollar, raise the threat of inflation down the road and let lazy fiscal policymakers off the hook." FannieMae. FORECLOSURE |Freddie Mac REFORM FANNIE MAE AND FREDDIE MAC TO PROTECT TAXPAYERS FROM FURTHER RISK ENSURE THAT TAXPAYER SELL 200,000 VACANT FORECLOSED HOMES OWNED BY THE GOVERNEMT DOLLARS IN THE HOUSING MARKET ARE REPLACED WITH PRIVATE DOLLARS MORTGAGEREFINANCE.COM MortgageRefinance.com believes QE3 will benefit the Real-Estate and Mortgage Industry in the long run. Inflation is a minor problem compared to the full collapse of the Mortgage Industry. We believe that in the long run QE3 will prove to be profitable for taxpayers. AQE3 USA Mortgage Refinance Sources: BARACKOBAMA.com / MITTROMNEY.com MORTGAGEREFINANCE.com / SACBEE.com AX CUTS BUSH ER BAILOUT