With primaries and caucuses in full swing and a new president on the horizon, I thought it might be helpful to start some discussion on who will be the best for our finances. This isn’t about who you like the best, or even who you want to vote for, but who will be the best for your personal finances. This includes things like job availability, income rates, interest rates, mortgage rates, taxes, and other related issues.
For me, I think the biggest issue affecting my personal finances is taxes. From 7% sales tax in NJ, to income tax, to having to pay both sides of social security taxes on The Rockette’s income, capital gains taxes, tolls, and on and on, I can’t thing of a bigger drain on my money. This is especially true, since I have no choice in the matter. With anything we consume(housing, autos, gas, food), we have choices. Not so with taxes. The more you make the more they take. To change taxes you need an administration that is focused on fiscal responsibility, smaller government, and giving the people more control not less. Even though I voted for Bush in 2004, this administration has failed me horribly. Government has gotten bigger and exerted more control, and spending has gone crazy.
I personally don’t think the lot of Democrats will move the US towards a place that will tackle these finance questions for me with the exception of more fiscal responsibility and less war. It also doesn’t seem like the front running Republicans are touting platforms that would affect these financial issues. Huckabee and the Fair Tax has some potential or is at least an attempt. So, who else is left? Ron Paul. Yes, he is quirky, but his ideas and his record shows he genuinely wants a smaller government, less spending, and to return the power to the US residents. These goals would totally support my major financial goals. The media doesn’t give him much coverage, but he does have a great website if you want to check out his positions.
I know that I am not focusing on a lot of issues that may be important for others, but those are my issues. There is plenty of room for debate. What is your focus, and who best supports your financial goals.