Exclusive to OpEdNews:
OpEdNews Op Eds

Dear President-elect Obama,

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It


Become a Fan
  (6 fans)
- Advertisement -

Dear President-elect Obama,

You have captured the imaginations of much of the world’s people.  Americans are waiting to see what your first bold moves will be to get the economy moving again and provide a new vision for other issues such as Iraq, energy policy, health care, and immigration.  I have a couple of ideas I hope you will consider to help with the economy.  I believe that you have to show the people that their priorities are your priorities. 

First, the auto industry badly needs help.  But, Americans are fed up with bailouts.  The country also badly needs to reduce its use of foreign oil and consumers badly need help just getting by.  You can address both the economy and energy policy by establishing a tax deduction for the purchase of American made hybrid vehicles.  Allow Americans to deduct from their income the purchase price of such vehicles over a period of 3 years.  This will help the American auto industry and the consumer.  It will also help the country as a whole by reducing the consumption of gasoline, thereby reducing our dependence on foreign oil. 

While you’re at it you might want to eliminate the 100 % write-off in the year of purchase for businesses for the purchase of the biggest of SUV’s that president Bush established.  We don’t need to be encouraging the purchase of gas-guzzlers any more.  Even with that complete write-off capability in the year of purchase they are pretty hard for car makers to sell these days.

Second, their seems to be much concern over your plan to increase the capital gains tax.  I don’t understand why.  Who the heck has any capital gains to realize in this market?  What we should be concerned about is capital losses.  When we have capital gains we have to claim all of the income in the year they are realized.  When we have capital losses we can only take $3,000 per year for as many years as it takes.  We should allow the complete write-off of capital losses in the year they are realized.  This will help Americans greatly at a time when they need it most.

I hope you will consider these ideas and are able to get them implemented as quickly as possible.  Congratulations on your victory and good luck.  Our prayers are with you.

- Advertisement -


John Basel

- Advertisement -


A graduate of the State University of New York at Buffalo with an MBA in 1980, John went into the banking business from 1981-1991. John went into the gymnastics business with his wife, with whom he has two children, in 1992 and grew it enough by (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

What is a Socialist Anyway?

Healthcare Forum a Big Success, But Reveals Divisions

The Civil Rights Act of 2010?

Two opposing viewpoints of Obama's speech in light of the Israeli/Palestinian Conflict


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)
Why did you tell Pennsylvania that you were going ... by Don Bybee on Wednesday, Nov 12, 2008 at 8:55:29 PM