The 2012 US Presidential Elections was something that the whole world anticipated. It was an electoral battle between two party giants: Matt Romney from the Republican party and Barack Obama, who’s running for his 2nd term in office. The televised events of the Presidential elections showcased some of the high and low moments of both the candidates’ campaign to presidency, from former President Bill Clinton’s endorsement of Barack Obama to the lukewarm response of Congressman Paul Ryan’s appointment as Romney’s running mate.
Whether one was a voter or not, it was important to know what the candidates stood for and what their stance on certain issues are. It was also important to know what kind of policies they were eager to implement once elected into office.
What were the important issues that plagued the presidential candidates?
- Health care
- Foreign policies
- Individual liberties
Let’s take a look at where they differ at these key issues.
Obama and the Democrats– TheDemocratic platform of 2012 focused on bringing jobs and manufacturing opportunities back into the USA. Rather than outsourcing, Democrats wanted to focus more on insourcing (which meant bringing jobs back from the overseas to the USA). This prompted the democrats to offer tax breaks to companies who are bringing work back into the USA while revoking the tax breaks of companies who are outsourcing their work. On the upside of things, Obama wanted to raise the taxes of the wealthy and provide tax breaks for the middle class; he gave tax cuts to 98% of families making less than $250,000. They also wanted to get rid of the Bush-era tax cuts, which lowered taxes on the highest earning corporations and individuals.
Romney – On the other side of the coin, the “Grand Old Party” or GOP believed that the federal government should play only a limited role in the economy. Their main solution to the economic problems of the country is a tax relief, which can also stimulate job growth. To accomplish this feat, they opted to extend the 2001 and 2003 Bush-era tax cute, get rid of the Death Tax (estate tax), and repeal the AMT or Alternative Minimum Tax. Republicans believed that these tax modifications should allow small businesses to grow and flourish and help boost the employment rate.
Health care and social programs
Obama and the Democrats – The Democrats wanted all Americans to have access to proper health care, as seen in their platform. The health care reform under the Obama administration allowed young adults up to the age of 26 to remain in their parents’ insurance plan. Another result of this reform is the Pre-existing Condition Insurance Plan, which provides coverage for people who are uninsured for more than 6 months. Another act called the Affordable Care Act, also under the Obama administration, ensured families who earn less than 133% below the poverty line are covered by Medicaid and families that make between 133 and 400% of the poverty line will receive tax credits to help pay for the insurance.
Romney and the Republicans –The GOP platform believed that Medicaid and Medicare need some serious reform, and in order to achieve such a reform, they shift federal power to the state level by repealing the ACA in order to allow local markets to treat and place patients. Like Obama, Romney didn’t desire to privatize Social Security. Rather, he wanted to achieve reform by increasing retirement age and index benefits according to prices, not wages, plus the option of personal retirement accounts as supplements.
Obama and the Democrats – Immigration is a serious issue in the United States. The Democratic platform wanted to create a reform that would allow immigrants to learn English, become US citizens, and pay taxes. They also hope to keep immigrant families through visa distribution. Obama also showed his approval for the potential DREAM, or Development, Relief, and Education for Alien Minors, Act which would allow immigrants who were brought to the USA as children to become citizens through a college education or military service.
Romney and the Republicans – The Republican platform undermines illegal immigrants and poses potential risks to national security, safety, and sovereignty of the USA. It announced their support for nationwide Systematic Alien Verification Program or SAVE and the E-Verify Program. To fight against illegal immigration, the platform suggests the combination of local, national, and state efforts in the Immigration Nationality Act (section 287). In order to push these efforts further, Romney wanted to create an impermeable fence across the US-Mexico border. On the upside, he plans to attract skilled immigrants and offer them permanent residency if they earn a science, mathematics, or engineering degree in an American university.
Obama and the Democrats – Democrats believed in the idea of giving every American child an education as well as recognizing the achievements and accomplishments of American teachers. To aid the student loan process, Obama passed the Health Care and Education Reconciliation Act of 2010, which would allow students to take out loans and pay no more than 10% of their disposable income. This act will start in 2014. This act also aims to remove or forgive the remaining student loan debt of service workers like nurses and teachers after 10 years.
Romney and the Republicans – Republicans wanted school choice in the form of vouchers and an improvement and increase in STEM or Science, Technology, Engineering, and Mathematics education. They are also trying to replace sex education classes with abstinence education. In order to combat the rising education costs, GOP plans to privatize student loans and develop alternatives to traditional four-year universities. However, no clear policies were specified by Romney should he win the election.
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Rate of immigration. When people migrating to the country increases, chances are there will be an increase on the real estate business as well. These people will buy houses and properties however when the government has a stricter policy on illegal immigration, this will impact the number of people coming in to the country which also impacts the real estate business.
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