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What do you value? The Party Platforms on the Economy

Cliff notes on the party platforms on the economy.

by

Kat Barton

Often we hear that there is a clear difference regarding our choices for governing.  Yet when candidates start talking and ads start running the choices aren’t as clear.  In this blog I’m focusing on the party platforms.  This is after all where the policy is. Where a political party puts who they are –  and what they value.  So if you are undecided or uninterested try to stick with me.  And I will  make this short and to the point.  Today we will tackle the economy.

ECONOMY

Taxes

Republicans

Want to lower taxes and reduce government spending.  “Taxes, by their very nature, reduce a citizen’s freedom,” is a quote from the official Republican Platform.

Republican’s believe that lower taxes and less regulation equals more jobs.

Democrats

Want tax cuts for the middle class (extending the Bush Tax cuts) and want to let the tax cuts expire for those who are the wealthiest.  They also want to close loopholes and deductions for the largest corporations.  Democrats emphasize a fair share approach on taxes and “built to last and built from the middle out.”

Democrats believe a fair shot, education and a strong middle class equals more jobs.

Balancing the Budget

 Republicans

Cut spending and do major structural reforms, and long-term government downsizing are the key components of the plan to reduce the deficit. We must “restructure the twentieth century entitlement state” is clearly stated on the Republican platform.

Democrats

Pay-as-you-go budget rules of the 1990s and  a balanced plan to reduce deficits by over $4 trillion over the next decade. The platform states “still making the investments we need in education, research, infrastructure, and clean energy, the President has asked for the wealthiest taxpayers to pay their fair share.”

So there it is in a nutshell. To view more information visit the official pages  of the parties at http://www.democrats.org/democratic-national-platform and http://www.gop.com/2012-republican-platform_home/.

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