Coming Clean on Coal Energy

Ben Smith of Politico blogged today about Joe Biden’s remarks in Ohio regarding coal plants in America. That is, that there shouldn’t be any. This seems to back up what he said last year during the primaries, according to Smith’s blog:

"I don’t think there’s much of a role for clean coal in energy independence, but I do think there’s a significant role for clean coal in the bigger picture of climate change," (Biden said) last year. "Clean-coal technology is not the route to go in the United States, because we have other, cleaner alternatives," he said, but added that America should push for a "fundamental change in technology" to clean up China’s plants.

Meanwhile, as if on cue, the McCain campaign countered today by issuing a press release insisting their candidate will protect coal-based jobs in the U.S. via a new coalition:

The coalition will help spread the message about the importance of clean coal technology and the advantages of tapping the country’s vast coal reserves. As part of John McCain’s "all of the above" energy plan, the Lexington Project, clean coal will be a strong component of the drive to energy independence. In addition to providing domestic energy, the coal industry is a key part of the economy in several states.

This is topical for me as I was in Crawfordsville just last week interviewing the manager of Crawfordsville Electric Light & Power — the city’s public utility company — for an upcoming member spotlight in BizVoice. He stressed to me the importance of clean coal as a future energy source in Indiana. He explained that our best minds need to be working on this in the future for the good of both the state and the nation. It’s also worth noting that the Indiana Chamber has a longstanding position that clean coal needs to be part of the energy mix in our state.

Obviously, this is just one of many issues voters will base their support on this election season and just a minor point/counterpoint in the grander scheme of the 2008 electoral dance. However, it seems the two tickets have drastically different opinions on these matters — or at least different rhetoric.

Chamber Staffers Discuss Gingrich and the Upcoming Election

Indiana Chamber communications VP Tom Schuman and political affairs VP Michael Davis recently sat down on the Inside INdiana Business set to discuss our 19th Annual Awards Dinner keynote speaker Newt Gingrich. The pair also touched on key factors pertaining to the upcoming election.

 Below is the commentary video:

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Web Site Woes for Obama, McCain

Two expert studies resulted in the following headline: "Web sites of both presidential candidates fail to connect with users." After a quick review of the Barack Obama and John McCain Internet homes, I agree with the people who do this work and analysis for a living.  

Clutter, lack of clear labels and the ability to easily navigate to some common tasks are among the challenges. Given the fact that more web sites than not struggle with some of those same issues, the results are not surprising.

The Obama campaign has been lauded for raising money and reaching people. But if you want to learn more about the Democrat’s positions on the issues, it takes a little searching. I’m also troubled by the labels attached to different groups under the "People" header.

The ongoing Republican convention only added to the McCain clutter. Are there really 15 or more Photos of the Week that deserve front page placement? While the overall site might be more user-friendly than Obama’s, the poor first impression undoubtely turns away many visitors.

Government Executive.com has the overview and the expert comments. 

Time to Lower Federal Corporate Income Rate

If tax rates can in fact be said to influence where companies locate and invest, the U.S. has a problem. As our economy becomes increasingly global our combined (federal and provincial/state) income tax rate is higher than every other country in the world, except Japan. Both presidential candidates have recognized the need to do something. Sen. John McCain proposes a significant reduction of the current 35% federal rate to 25%. Although coupled with other proposals and not nearly as definite or assertive, Sen. Barack Obama also indicated he is open to lowering the rates.

The U.S. can’t afford to ignore what most other industrialized countries have already figured out: the corporate income tax rates affect investment. This year China dropped its rate from 33% to 25%; and Taiwan, Hong Kong and Korea, which already had much lower rates than the U.S., dropped theirs even more. And it is not just in Asia. The adjustments swept Europe with Germany, Italy, the U.K. and Spain all making rate reductions. It is truly a global thing. Other countries that are part of the wave of cuts: Turkey, Bulgaria, Israel, South Africa and Colombia.

So with so much talk of change in other contexts, it is important to point out that it is also time for a change to our corporate tax rate. A full listing of the corporate rates in nations belonging to the Organization for Economic Cooperation and Development, along with other revealing information on this subject is available from the Tax Foundation.

Gingrich Admits Failed Political Predictions

I spent a most interesting 25 minutes on the telephone this morning with Newt Gingrich, the former Speaker of the House who will be keynoting the Chamber’s 19th Annual Awards Dinner on November 6 — two days after this fall’s general election.

After giving a thoughtful and comprehensive response about what he expects to happen on November 4, Gingrich did add that he originally picked Hillary Rodham Clinton to win the Democratic nomination and he thought John McCain was "dead last August." While he downplays his own prognostications, Gingrich offered a number of compelling insights on political and business topics.

The full story from our interview will be in the upcoming BizVoice magazine (available in late August online and in print). But look for a few more excerpts between now and then, both from our discussion and also from hearing Gingrich speak earlier this year to the Council of State Governments in Lexington, Kentucky.

Bottom line: he’s incredibly intelligent, strongly opinionated and you’re not going to want to miss what he has to say in November.

 

Corporate Tax: What are the Presidential Candidates Saying?

Mark Willen of Kiplinger.com has an interesting breakdown regarding McCain’s and Obama’s views on the corporate tax. You business owners and fanatical fans of finance (sorry, I just received my certificate in alliteration) could find the distinctions intriguing.

Also, you may be surprised at what Bill Clinton’s former labor secretary Robert Reich says on the matter.

Cook: GOP Has Work to Do

The Cook Political Report, featuring Charlie Cook, has analyzed Washington politics and national trends since 1984. His work is highly respected in most circles.

An early look at the 2008 general election proves interesting — John McCain and Barack Obama in a very close race and other Republican candidates having an uphill struggle.

Among the nuggets from Cook is the fact that a party seeking a third consecutive term in the White House only succeeds about 20% of the time.