Monday, November 5, 2012

1 Tune In Today's Show : "Obama or Mitt?"

    Your Host Aasim Ali and Co-Host Bryant "Uncensored" Moore want to welcome our callers and chatters to The LegacyatHand Network Show where we discuss all things in the creation of a Legacy. The subject of our show "Obama or Mitt?"

{image credit Politic Pa}

  Which side of History will the american people stand? In america today, our legacy is at hand. As the sunrise on america will the people rise with america. As we see the tides rising higher and getting stronger with each storm that hits our shores we must understand that the time is NOW! {Aasim Ali-Founder}

President Barack Obama

At this year's Democratic National Convention in Charlotte, N.C., President Obama called for bolstering trade, generating one million manufacturing jobs by 2016 and stemming the growth of college tuition. And, in a nod to the economic plan he announced last year, Obama repeated his goal to shave more than $4 trillion from the deficit over the next decade. He also renewed his call for raising taxes on the wealthy.
During his 2012 State of the Union address, Obama provided more insight into his tax plan. Among other things, he would trim corporate tax rates to 28 percent from 35 percent -- and cut the tax rate for U.S.-based manufacturers even more. He added that the top corporate tax rate on domestic manufacturing profits would drop to 25 percent and even further for income from advanced manufacturing activities.
In a recent speech at the National Urban League Convention, Obama continued to tout the proposals. "You don't build [strong communities] by giving tax breaks to companies that are shipping jobs overseas," he said. "You build it by giving tax breaks to companies that create jobs in Detroit and in Cleveland and in Chicago and right here in New Orleans, right here in America."

 Mitt Romney

As president, Mitt Romney indicated in his 59-point economic plan that he would slash the corporate tax rate to 25 percent from 35 percent. He would eliminate regulations that hampered the free market and trim government spending to 20 percent of
the U.S.'s gross domestic product, down from the current 24.3 percent.
Additionally, on day one of his presidency, he would cut non-security discretionary spending by 5 percent and troll for new energy reserves. Romney and his running mate Representative Paul Ryan have both also expressed a commitment to balancing the budget and cutting spending on entitlement programs. Further, the GOP presidential nominee has vowed to repeal two major pieces of legislation passed under President Obama: the health-care and financial-reform laws.
In a recent CNBC interview, Romney said that he would limit certain tax incentives "so that the highest-income people continue to pay the share that they're paying now." He added: "I'm not looking for tax breaks for high-income folks, but I am looking for more money being kept in small business so we can hire more people and pay better wages."
Which candidate has a better plan for fixing the economy?

 Leave a comment below and let us know. 

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