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What The 2008 Democrat Platform Says

From the Democrat National Platform (a pdf file), pp 26-27:

THE 2008 DEMOCRATIC NATIONAL PLATFORM

RENEWING AMERICA’S PROMISE

Economic Stewardship

Since the time of our Founders, we have struggled to balance the same forces that confronted Alexander Hamilton and Thomas Jefferson–self-interest and community; markets and democracy; the concentration of wealth and power, and the necessity of transparency and opportunity for each and every American. Throughout our history, Americans have pursued their dreams within a free market that has been the engine of America’s progress. It’s a market that has created a prosperity that is the envy of the world, and opportunity for generations of Americans. A market that has provided great rewards to the innovators and risk-takers who have made America a beacon for science, technology, and discovery.

But the American experiment has worked in large part because we have guided the market’s invisible hand with a higher principle. Our free market was never meant to be a free license to take whatever you can get, however you can get it. That is why we have put in place rules of the road to make competition fair, open, and honest. We have done this not to stifle–but rather to advance – prosperity and liberty.

In this time of economic transformation and crisis, we must be stewards of this economy more than ever before. We will maintain fiscal responsibility, so that we do not mortgage our children’s future on a mountain of debt. We can do this at the same time that we invest in our future. We will restore fairness and responsibility to our tax code. We will bring balance back to the housing markets, so that people do not have to lose their homes. And we will encourage personal savings, so that our economy remains strong and Americans can live well in their retirements.

Restoring Fairness to Our Tax Code

We must reform our tax code. It’s thousands of pages long, a monstrosity that high-priced lobbyists have rigged with page after page of special interest loopholes and tax shelters. We will shut down the corporate loopholes and tax havens and use the money so that we can provide an immediate middle-class tax cut that will offer relief to workers and their families. We’ll eliminate federal income taxes for millions of retirees, because all seniors deserve to live out their lives with dignity and respect. We will not increase taxes on any family earning under $250,000 and we will offer additional tax cuts for middle class families. For families making more than $250,000, we’ll ask them to give back a portion of the Bush tax cuts to invest in health care and other key priorities. We will end the penalty within the current Social Security system for public service that exists in several states. We will expand the Earned Income Tax Credit, and dramatically simplify tax filings so that millions of Americans can do their taxes in less than five minutes.

Housing

The housing crisis has been devastating for many Americans. Minorities have been hit particularly hard—in 2006, more than 40 percent of the home loans made to Hispanic borrowers were subprime, while more than half of those made to African Americans were subprime. We will ensure that the foreclosure prevention program enacted by Congress is implemented quickly and effectively so that at-risk homeowners can get help and hopefully stay in their homes. We will work to reform bankruptcy laws to restore balance between lender and homeowner rights. Because we have an obligation to prevent this crisis from recurring in the future, we will crack down on fraudulent brokers and lenders and invest in financial literacy.

We will pass a Homebuyers Bill of Rights, which will include establishing new lending standards to ensure that loans are affordable and fair, provide adequate remedies to make sure the standards are met, and ensure that homeowners have accurate and complete information about their mortgage options. We will support affordable rental housing, which is now more critical than ever. We will implement the newly created Affordable Housing Trust Fund to ensure that it can start to support the development and preservation of affordable housing in mixed-income neighborhoods throughout the country, restore cuts to public housing operating subsidies, and fully fund the Community Development Block Grant program. We will work with local jurisdictions on the problem of vacant and abandoned housing in our communities. We will work to end housing discrimination and to ensure equal housing opportunity. We will combat homelessness and target homelessness among veterans in particular by expanding proven programs and launching innovative preventive services.

Reforming Financial Regulation and Corporate Governance

We have failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices. We have let the special interests put their thumbs on the economic scales. We do not believe that government should stand in the way of innovation, or turn back the clock to an older era of regulation. But we do believe that government has a role to play in advancing our common prosperity: by providing stable macroeconomic and financial conditions for sustained growth; by demanding transparency; and by ensuring fair competition in the marketplace. We will reform and modernize our regulatory structures and will work to promote a shift in the cultures of our financial institutions and our regulatory agencies. We will ensure shareholders have an advisory vote on executive compensation, in order to spur increased transparency and public debate over pay packages. To make our communities stronger and more livable, and to meet the challenges of increasing global competitiveness, America will lead innovation in corporate responsibility to create jobs and leverage our private sector entrepreneurial leadership to help build a better world.

Consumer Protection

We will establish a Credit Card Bill of Rights to protect consumers and a Credit Card Rating System to improve disclosure. Americans need to pay what they owe, but they should pay what’s fair. We’ll reform our bankruptcy laws to give Americans in debt a second chance. If people can demonstrate that they went bankrupt because of medical expenses, they will be able to relieve that debt and get back on their feet. We will ban executive bonuses for bankrupt companies. We will crack down on predatory lenders and make it easier for low-income families to buy homes. We will require all non-home-based child care facilities to be lead-safe within five years. We must guarantee that consumer products coming in from other countries are truly safe, and will call on the Federal Trade Commission to ensure vulnerable consumer populations, such as seniors, are addressed.

Ah, yes.

Freedom.

This article was posted by Steve on Monday, October 27th, 2008. Comments are currently closed.

7 Responses to “What The 2008 Democrat Platform Says”

  1. BannedbytheTaliban says:

    “The housing crisis has been devastating for many Americans. Minorities have been hit particularly hard—in 2006, more than 40 percent of the home loans made to Hispanic borrowers were subprime, while more than half of those made to African Americans were subprime. ”
    …………….”We will crack down on predatory lenders and make it easier for low-income families to buy homes.”

    Umh, maybe I missed something. But wasn’t this kind of thinking that got us into this mess to begin with?

  2. curvyred says:

    Banned:

    It was precisely that kind of thinking backed by legislation that got us right where we are, and loose credit just about sunk our ship, you would think they would try some “change”!

  3. Perdido says:

    >>We will establish a Credit Card Bill of Rights to protect consumers and a Credit Card Rating System to improve disclosure. Americans need to pay what they owe, but they should pay what’s fair. <<

    What’s the chances they could write legislation outlawing the Credit Cards raising the interest rate on purchases already complete? It’s bad enough that the CC companies are completely breaking the law when they loan credit (the money is created when one makes a payment, that means they are printing money,: no no no, only the govt of the united States is allowed to do that), but then having the right to raise the interest on a completed transaction is an outrage.

    Campaign contribu….Oh, what was I thinking…??!!

  4. Perdido says:

    >>…and the necessity of transparency and opportunity for each and every American. <<

    the necessity of transparency??? Could someone explain what the hell that is supposed to mean? Democrats, anyone?

  5. imnewatthis says:

    I agree with “Banned. Why do people think (nowadays) it’s everyone’s right to own a home? I think it’s something you get if you want it bad enough that you work hard, plan, research, and prioritize. I have never owned a home. Straight out of college I was too poor. When I eventually got a good job I was living for the moment and never cared about buying a house. Then I was an at-home mother for a long time (my priority then) and we barely scraped by. Now I have a decent job again but I have one kid in college and one planning to go next year, and believe me there’s no extra money for buying a house. I certainly never felt anyone owed me a house, nor is one necessary for survival.

  6. BillK says:

    I love “we’ll ask them to give back a portion of the Bush tax cuts.”

    “Ask” as in “Sir, would you please get out of the car” as said by a Police officer with their weapon drawn.

    Of course remember that income taxes are only going up for “the rich.”

    Payroll and FICA will likely be going up for everyone, and what about those making less than $250,000 who received a benefit from Bush’s tax cuts?

    Whoops, those will go away too, but that’s OK because that’s not a tax increase, just the expiration of an undeserved tax cut.

    Of course let’s not forget the cries of discrimination and redlining that will inevitably occur when credit cards are either no longer available to those with a FICO under 700, or interest rates will be fixed at a constant 30% APR.

  7. Liberals Demise says:

    How people ever elected these arrogent bastards is beyond me. Why they still have a job is more of a puzzle! These are the samey-same RUINITES that cut the stilts out from under housing and now they are playing the shell game with you and me. I don’t usually pray but……


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