Our economy is on the path toward recovery. While it might not be obvious, our economy grew by 3.3 percent in the last quarter. Last week, though, the U.S. Bureau of Labor Statistics reported that unemployment is at a five-year high, underscoring that our economy still needs to be fixed. John McCain offers an effective solution to our nation’s economic problems that will create additional economic growth and much-needed recovery.

McCain’s plan focuses on the long-term recovery, growth and competitiveness of our economy. We need an environmentally friendly path to maximizing economic growth that will create new businesses and jobs and fund vital social and economic programs. With the economic hardships that face many Americans today, the clear path towards recovery lies in the pro-growth principles McCain advocates.

Low taxes are essential to creating this pro-growth environment. That’s why McCain has pledged to make permanent the tax cuts passed in 2001 and 2003. Now is not the time to raise taxes, and allowing these tax cuts to expire would result in one of the biggest tax increases in our nation’s history. That is something our nation can’t afford right now.

In addition to extending these tax cuts, McCain’s plan includes fixing tax loopholes for oil companies, phasing out the Alternative Minimum Tax to prevent millions of families from paying higher taxes, raising tax deductions for families with dependents and cutting corporate taxes. These changes are designed to encourage investment and the creation of new businesses, which will create new jobs and encourage economic growth. Raising taxes, even on the wealthiest Americans, discourages this kind of investment and job creation.

At 35 percent, our nation’s corporate tax rate is the highest among the 30 countries in the Organisation for Economic Co-operation and Development. This is why we are losing our competitive edge and our jobs to other nations. McCain has pledged to lower corporate taxes by 10 percent, making it cheaper for companies to stay in the United States while remaining competitive abroad.

McCain is not your typical Republican. After eight years of high and wasteful spending, McCain’s commitment to fiscal discipline doesn’t sound like Republican policy. McCain has made a career of being a maverick reformer, fighting wasteful spending that costs American taxpayers billions of dollars and breeds record-high deficits and corruption. He broke with his party in 2001 and 2003 to oppose the tax cuts because they would lead to greater deficits. He continues to break with his party on spending earmarks, which further increase the deficit. McCain’s fiscal responsibility is not only helping taxpayers save money; it is also bringing the Republican Party back to its conservative roots.

Barack Obama’s plan appears to be more progressive, but it shows little concern for the economy. Our economy needs real, workable solutions, not a fortune-cookie plan that’s catchy yet detrimental to the economy. With an economic plan focused on tax increases (raising taxes on two-thirds of the tax base and allowing tax cuts to expire), increased government spending and more government regulation, Obama’s economic plan reads like a laundry list of items designed to kill economic recovery rather than spur growth. That’s not change we can believe in.

We need to rely on experience, not just hope. As we continue on the path to economic recovery, we need a plan that caters to pro-growth ideas that work. Let’s enrich individuals, not government.

This viewpoint was written on behalf of the University’s chapter of College Republicans.

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