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I Voted for Barack Obama

I voted for Barack Obama.

I walked into the polling location, sign in, voted, and walked out in what felt like five minutes. Then my wife and I headed over to Chik-fil-a where we thought they were giving away sandwiches (the one near us wasn’t!). We ate there anyway because Chick-fil-a is a good place and then snagged our free coffee’s from Starbucks across the street. Not a bad voting experience!

Now, I hope you all won’t mind if I share a few thoughts about my decision. I share some of the same feelings about him as Marc Andreessen [3], who is pretty well known in Silicon Valley and, among other things, helped create Mosaic. Here are some of my other thoughts about him, the Election, John McCain, etc. I don’t write much about politics, I know it’s a heated topic and I try not to play with fire too much, but this is pretty much a brain dump and feel free to share your own in the comments.

There are two things I feel the next President has to do:

I don’t think McCain or Obama will be able to cut taxes, the economic conditions are such that cutting taxes is near impossible. Taxes will go up and they will have to go up. I bet we’ll see the Social Security maximum raised, some brackets shifting upwards (less so for the lower brackets), and some tax cuts permitted to sunset. It’s like elder Bush and his famous “Read my lips, no new taxes” line that he had to renege on – the realities of the environment will dominate any promises.

As for the big focus on “wealth redistribution?” We’ve been doing it for years, it’s called the progressive tax system. While it seems like you’re punishing success and being a bit socialist, the alternative is far worse. Imagine a nation where there is an upper class and a very large lower class with few economic opportunities, filled with anger, desperation, and despair, and with very few options. Not pretty huh? America is still the land of opportunity, even if success is taxed a little more.

The funny part is how the Bush’s tax cuts, coupled with ridiculous spending, redistributed wealth from the poor to the rich. It was a little sleight of hand though The cuts lowered taxes on the rich (no one upset by that huh?)by lowering capital gains. Lowering capital gains is a huge coup for anyone who was rich because they were more likely invested in things that give capital gains (stock market, real estate). If you were in the top tax bracket of 35%, long term capital gains is a mere 15%… that’s a 20% discount! This also had the effect of making the stock market more appealing, which boosts share prices, which makes everyone feel richer.

I am a little concerned about how Democrats will control both the Legislative and Executive branches, but I’m OK with it for now. I do like the idea of checks and balances. The bail out bill was four pages long when it was first introduced, thankfully a Democrat legislature and a Republican executive existed to slow it down and put a little framing around it. While I often complain about the slowness of government, in this case I’m glad things weren’t rushed. While having a single party control both branches is a little disconcerting, I’ve come to terms with that.

As for Joe the Plumber? Comedy. Pure comedy. I don’t know how the nation was convinced that someone earning $250K was somehow considered a “regular Joe.” If you make $250,000 (if it’s a business, that’s $250,000 profit), I’d say you’re doing pretty good.

Finally, I have the utmost respect for John McCain. I liked him far more before he adopted his strategy to appear closer to Bush to appeal to the Republican base (something I learned in Choice 2008 [5], another great Frontline doc) but that’s part of the political game. I don’t fault him for his involvement in the Keating Five scandal and I think he’d make a fine President if he were elected.

If you haven’t voted yet, please go and vote.