Posted by: chronicler55 | August 7, 2008

Cantor’s Middle Class “Rights” borrows from Sarkozy

Eric Cantor (R-7th Dist. VA) is discussed as being on the short list for the VP slot with McCain.  Cantor declines to discuss the subject of the Vice-Presidency, but has revealed his economic plan, called “A Middle Class Bill of Rights.”  Among the main ideas in this proposal is one which Cantor says he borrowed from Sarkozy, the new president of France.

  • The Sarkozy idea is to exclude overtime pay from taxes . This would encourage additional work, and give more take home pay to workers. Mary Fallin, (R – OK) has introduced such a bill.
  • Cantor would cut the corporate tax rate from 25 % to 15%, encouraging corporations to remain in the U.S.  keeping jobs in the country.
  • Make health care more flexible so people could change jobs, retire and take health coverage with them.
  • Drill for oil and natural gas in the U.S. on the Outer Continental Shelf to bring down fuel prices
  • Suspend the law which requires gasoline to contain 8% ethanol which is made from corn in order to lower food prices.

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