AL GORE WOULD BENEFIT MEXICO? S ECONOMY The United States is the most powerful country in the whole world, and this is why many other countries around the world almost depend on it. This gives us an idea of how important it is for everyone to know that the economic situation of the US is doing well, otherwise we would all get seriously affected. Who decides the way in which the US is moving? The President makes a lot of decisions regarding politics, social and foreign affairs, but we? ll focus on his economic actions. Now that the presidential elections are getting close, we should think about the two candidates: the democrat Al Gore and the republican George W. Bush.
Both of them have already made some proposals for the country's economy in the future, and such reforms will surely affect all the other countries around the world. Anyway, Al Gore's economic plan will have better consequences for Mexico's economy. Al Gore is the candidate for the Democrat Party, and? together with President Clinton, he has been a key architect of the economic strategy that has now brought the longest peacetime economic expansion in American history.? (Gore 2000 Homepage). Gore has made a lot of effort to reduce deficit and to stop the government from spending money in useless projects by insisting on having a balanced budget. He has worked to lower interest rates, to open new markets around the world, and thinks of science and technology as a way to encourage development and to help the US economy to produce more and become more innovative.
His economic plan is made up of five points where he keeps considering a balanced budget for the government, but we will only consider three of them. The first one is to? maintain fiscal discipline to keep interest rates low and investment rates high? (Al Gore 2000 Homepage). Also, he wants to do some reforms on the government's way of working? so that it costs less, works better, and keeps pace with today's fast-moving economy.? (Al Gore 2000 Homepage).
Finally, he plans to invest more in education and research to give everyone a chance to succeed. As we see, he's very worried about keeping the country's economic expansion throughout the world, but without forgetting about the people that pay a lot of money on taxes that aren? t always fair. George W. Bush is the Republican candidate and his economic plan is based on tax cuts. His strategy includes several points related to each other, but we? ll just talk about five of them. Regarding the poor sector of the society, he wants to double the child credit to $1,000 and expand the charitable deduction. By cutting taxes, he wants to help poor people to get closer to the middle class and lower or even eliminate the taxes for a family.
For the middle class, he's goal is to keep a limit of 25% as the higher income tax rate possible. He's also interested in disappearing the death tax, which? penalizes those who want to build on the wealth created by their family? (George W. Bush Homepage). He pretends to encourage entrepreneurship and to control government spending using? presidential power to get money away from Congress? (ISSUES 2000).
As we see, he's mainly worried about helping people that live in the US and this doesn? t necessarily affect the Mexican economy..