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Friday, September 12, 2008

Rep. Eric Cantor (R-VA) introduces "Middle Class Bill of Rights"

Two days ago, Congressman Eric Cantor (R-VA 7th District) spoke to the Conservative Bloggers' Briefing at the Heritage Foundation, introducing a "Middle Class Bill of Rights." They include:
  • Energy: As everybody knows by now, the rational approach is to have an "all of the above" strategy which includes production of non-renewable and renewable resources (including nuclear), as well as initiatives that increase conservation and efficiency. Cantor mentioned that the selection of Palin gives the GOP in the expertise edge of energy solutions.
  • Health Care: Cantor explained that individuals worry more today than a generation ago about losing their jobs because of the subsequent loss in health care coverage. Consumer-based health care programs and the expansion of Health Savings Accounts (HSAs) are the way to proceed.
  • Making Paychecks Go Further: Another way of saying "tax cuts." But Cantor also mentioned that French President Nicolas Sarkozy is proposing making overtime wages tax-exempt to fuel more productivity at the micro-level.
  • Job Creation: Cantor correctly points out that the best stimulus for any economy is job creation. This means Congress has to start being concerned about competitiveness and corporate taxes. Back in January, Cantor introduced the "Middle Class Job Protection Act," which would, among other things, cut the corporate tax rate from 35% to 25%. While it is speculative to link corporate taxes to job loss/creation, the ultimate burden of corporate taxes does fall on individuals through lower wages, higher costs at goods and services, etc. (The Tax Foundation has started a campaign called CompeteUSA, showing that corporate taxes in America are increasingly out-of-line with the rest of the world.) http://www.thenextright.com/

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