The 2008 Presidential Election and Your Financial Planning (Part 1)
Democracy is not a once-in-four-years affair, but a US Presidential election takes domestic and global issues more seriously than usual. The recent move towards campaigning interactively through the Internet has reinforced the notion that a huge pile of matters come to the fore every time it is your turn to vote. One candidate may be better at managing war, while another has a distinct strength on a more pedestrian issue. How do you approach the inevitable trade-off? This article suggests that your financial planning interests could be the most appropriate and pressing parameter to bear in mind.
Any Head of State obviously has more than just one vote. This person can not only make earth-shaking decisions that impact your financial planning, but even veto measures that could bring you invaluable piece of mind on retirement. A US President has such holds on world media and global affairs, that every campaign draws increasing international attention. Some folk who are most affected by US Presidents do not even have votes! That certainly places some burden on US citizen shoulders, though no one should blame us for putting own financial planning interests upfront! How can we do this most effectively?
Social Security, State Profligacy, and Your Financial Planning
Issues such as Alternative Minimum Tax (AMT), Earned Income Tax Credit (ESIC), marriage taxes and subsidies, and tax rates, are tempting but inappropriate for Presidential campaigns. Citizens in various income categories and personal relationships are bound to have opposing perspectives, so large campaign donors will eventually win hands down! You have to pick on common issues that affect retirement planning for the vast majority, if not every one. Health insurance is a great candidate! Improvements in annual enrollment and Medicare can benefit everyone, especially when we consider that foreign drug makers have no votes!
Deficit financing is another cardinal issue of national importance. It is a way of life in professionally managed corporations, so why not in Washington as well? There are contentious matters at stake when it comes to making the cuts, but the discipline of balancing budgets should appeal to all. You and your descendants cannot lose if you hold out your vote against the better promise to contain inflation. Retirement financial planning will mean little if the dollar continues its slide!
Rising social security costs and inflation threaten retirement financial planning. Most sections of society are harmed by these factors in serious measures. That is why using the 2008 Presidential election as an occasion to safeguard the present value of your retirement financial planning makes such good sense. Vote for the candidate with the most credible plan to safeguard your future!