Obama or McCain - Who’s the best candidate for business?

Kush Jenkins, Special to BlackPoliticsontheWeb.com

- And then there were two, Senator Barack Obama and Senator John McCain. And with the economy in recession and inflation running wild, the first question out of the media’s mouth is, “Which one is best for business?”

I love this media darling of a question, because it gives the media at least one week of political pontification to regurgitate when newsworthy times are slow. “Which one is best for business,” is a genius stroke for the Republican party. How can the American public actually believe a group of people hell-bent on taxing the public and building larger governmental entities be better for free market capitalism than a group of people that want to cut taxes and cut government spending. It is the perfect framework in which the Republican party can exalt their candidate’s superiority.

And the Democrats, like little children wanting to be accepted by their peers, run to debate the issue in order to show that they are smart too. All the while, the American public sits on the edge of their seats, waiting for the answer like a magnificent Agatha Christie mystery. I have been there. I was once just like you. During the 2004 election between Bush and Kerry, I was that American, eyes glued to CNBC, FOX, and PBS, trying to find the answer to that question. And then one day - during a question and answer session with a former GM executive, a classmate of mine popped the question, “Mr. Thomas, who is better for the US economy, Bush or Kerry?” His response is mine today, “I don’t care if they hire Mickey Mouse, I am still going to make money.”

It is does not matter which person is best for the economy. What truly matters is your plan to make money when that person gets into office. It is true that if McCain is elected you can expect the war on terrorism to continue, the Bush tax cuts to be made permanent, and the AMT to be adjusted. So a corresponding gameplan would be invest in defense stocks, develop your own business, and, for those paying AMT who would see future relief in their tax liability, begin to shift your retirement savings from your Roth IRA to your traditional IRA.

On the other side of the equation, if Senator Obama is elected, he plans on getting rid of the Bush tax cuts, pushing America off foreign oil, and universal healthcare. Gameplan - shift your retirement savings from your traditional IRA to a Roth IRA, short oil commodities, and look to invest in companies that currently have large healthcare expenses.

To quote an old proverb, “It is not the man (or woman), but the plan.” This election, listen closely to what the candidates say in order to develop your own plan. Then execute the plan that fits the candidate elected. And if one day the American people just so happen to elected Mickey Mouse to the presidency, Disney and cheddar cheese are good buys.