John Edwards Plan To Create Jobs, Strengthen the Economy, and Stand Up for Working AmericansEdwards on Creating Jobs:
"Jobs are not just about paychecks. They are about respect and dignity. It is time for leaders to honor working Americans again…Instead of giving tax breaks to companies that move their headquarters overseas, we should offer tax incentives for companies to manufacture here in America. We should be exporting American products, not American jobs."
Edwards on Rewarding Work:
"This administration’s economic vision has one goal: to get rid of taxes on unearned income and shift the burden onto people who work. They want a world where the only people who have to pay taxes are the ones who do the work…I believe the backbone of the American economy is the hard work, determination, and ingenuity of the middle class, not the insiders. I believe the way to grow the economy is to grow and strengthen the middle class, not shrink its size and add to its burdens. I believe the way a rich nation gets richer is by giving all its citizens the chance to get richer, not by only helping those like me who’ve already succeeded beyond our wildest dreams."
Edwards on Corporate Responsibility:
"Our economy, our people, and our nation have been undermined by the crony capitalists who believe that success is all about working the angles, working the phones, and rigging the game, instead of hard work, innovation and frugality…We will never turn this country around until we put our economy and our government back in line with our values…My ideas are based on principles as old as America. Corporate books should be honest. Rewards should be based on accomplishment. Executives and other insiders should be accountable. And businesses have responsibilities to their workers, not just the other way around."
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The following is a detailed look at Edwards' Jobs and Economic Growth Plan
Create Good Jobs Here At HomeNegotiate Fair Deals For American WorkersFree trade has to be fair trade. As president, Edwards will be a tough negotiator on trade, and will only negotiate trade Agreements that meet these basic principles:
- Agreements should be fair and enforceable.
- Agreements should have strong labor and environmental protections.
- Agreements should have real, tangible benefits for U.S. businesses and U.S. workers.
Both sides should give up something, not just America.
Stand Up for U.S. Trade Rights Our country needs to enforce the trade agreements that we have on the books.
For example, we run a $100 billion trade deficit with China - the largest in history between any two nations - in part because of lax Chinese trade law enforcement. It's time to hold other countries to their commitments.
Keep Companies At HomeSome in Washington are pushing tax proposals that could encourage corporations to move overseas at the same time as they protect tax cuts for corporations that renounce their U.S. citizenship.
Edwards believes that at a time when we have lost more than 2 million manufacturing jobs, we should keep jobs here at home.
He will give a 10 percent tax cut to corporations that produce goods here and keep jobs at home. Edwards will stop corporations from getting tax cuts for renouncing their citizenship.
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Bring Jobs Back To The Communities That Have Lost ThemGet Our Economy Back On Track The best way to create jobs is to get our economy back on track. Edwards will:
Honor the values of work and opportunity that have helped our country become the most prosperous in history.
Insist on a responsible budget.
Invest in our future competitiveness through education and innovation.
Stand up to crony capitalists who are putting their private interests ahead of the public corporations they run.
Provide Venture CapitalEdwards will enact the Rural Economic Advancement Challenge, or REACH fund, to bring venture capital and management expertise to entrepreneurs and small businesses in small towns and areas that are losing jobs today.
Create Economic Revitalization ZonesEdwards will designate towns and areas hard hit by foreign trade as Economic Revitalization Zones that are eligible for tax credits and other aid to encourage business investment.
Fuel America’s FutureEdwards has proposed the Fueling America’s Future program to promote renewable fuels. He will support the creation of new bio refineries to transform agricultural wastes - like corn husks, rice straw and wood chips - into energy. In addition to helping end our dependence on foreign fuels, this plan will create good manufacturing jobs for working Americans.
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Help Working Americans Build Their WealthThe American Dream Tax CreditEdwards' American Dream Tax Credit will offer a matching tax credit of up to $5,000 to help those who need it to cover a down payment on a first home. This credit will give millions of Americans their first chance to own a home.
Incentives to Invest and SaveTo help working Americans invest in American business, Edwards will cut capital gains taxes for 95% of Americans. For these taxpayers, he will create a $1,000 exclusion from capital gains taxes, as well as $500 dividend exclusion. He will also lower the long-term capital gains rate for middle-class families. These steps will simplify tax filing and eliminate two tax forms for millions of Americans.
Matching Savings Accounts for RetirementEdwards will give Americans who have the most trouble saving today a chance to save through matching savings accounts.
He will match $1 in private savings with as much as a $1 refundable tax credit for savings, up to a limit of $1,000 per couple, for Americans with incomes up to $50,000. A working family that saves and receives the maximum under this plan every year from age 25 to retirement will have a nest egg of $200,000, on top of other savings.
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John Edwards Plan To Return American Values To Corporate AmericaStrengthen The Rights Of Working AmericansCreate A Tax Code That Reflects Our ValuesJohn Edwards Plan for Urban America