Mitt Romney was in for a surprise when Barack Obama won the elections. Romney’s campaign was based too much on the economy and who is to blame? Isn’t the election all about economic recovery? Apparently, this is not the case. More Americans are looking at the issue of inequality in degrees more than the economic crisis; and that’s why Obama won.
While the issues of gender equality and disenfranchisement are at the core of the nation’s values, they are still economic in nature because then the government would step in and limit the democracy of those people involved. History has even taught us that the root of inequality is when the rich are given a bigger portion of the country’s rights and privileges than the working class.
So now that Obama has been given another term as president of the United States, what will the citizens be expecting?
A Strong Bill on Jobs
In the following years, you can expect to see a strong bill on jobs and employment that would be based on investments in healthcare, education, infrastructure and technology. Such a bill or group of bills will then help stimulate the economy, boost growth, generate better tax revenues that will go towards the cost of providing these services to everyone, reduce the unemployment rate and also improve the fiscal position of the country.
A Fair Tax System
A comprehensive system that would help increase economic opportunities and reduce inequality can also be expected in the form of fair taxes. Such a system should be more progressive and should eliminate the loopholes found in the current system wherein the rich are allowed lower taxes than those working for a living. This system should also prevent the rich from using the Cayman Islands just to avoid the paying of the right taxes.
Taxes play a crucial role in all businesses. Even the interest rate imposed by banks and other traditional lenders can be affected by taxes. However, online firms are yet to be studied since they are not covered by the same federal laws that traditional lending institutions do. As such, until such a study is done, bad credit loans may still have the same interest rate as when they first started.
Policy for Domestic Energy Source
Lastly, Americans should expect an energy policy that reduces the country’s reliance on energy imports. Such a policy would encourage an increase in domestic energy production and if needed, cut energy consumption until the country can produce enough energy for everyone.
These are the crucial points that the Obama administration wish to address. Again, it’s all about equality in democratic rights and share of resources. If he succeeds, the American economy will show the results.