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Presidential Candidate Rudy Giuliani and Your Money

By Erik Folgate

If you haven’t heard, we’re going to have another president for the first time in 8 years, come November, 2008. Chances are that you have heard, because the candidates have started out EXTREMELY early with their campaigns. It’s nauseating, but don’t let it deter you from casting an educated vote. With the idea of a friend, I am going to take a look at the top presidential candidates and show you how they will impact your financial life if you elect them as your next president. If you’ve never voted before, or you stopped voting after you kept getting the president you didn’t want, please consider making an effort to vote this coming 2008 election. Don’t believe the conspiracy theorists. Your vote really does count, and it’s a patriotic thing to do.

You may be researching some of the big issues about the candidates such as immigration reform, national security, health care reform, and abortion laws. Or maybe you’re researching who supports legalizing marijuana, the resurrection of the TV show, “Chips”, or reducing the cost of soy milk. Whatever your priorities are, one of them needs to be which presidential candidate will help you financially succeed in America. Who has shown strong fiscal responsibility? Who will help to create more jobs? A candidate’s worldview about politics and social issues will greatly affect the way they manage our country’s money, taxes, and overall economy.

Here is a quick look at Rudy Giuliani and how he might help and hinder your financial life:

Rudy’s Track Record

quote from JoinRudy2008.com

Mayor Giuliani also took decisive steps to restore fiscal responsibility to New York City, reducing or eliminating 23 city taxes while turning an inherited $2.3 billion budget deficit into a multi-billion dollar surplus. These reforms helped lead New York City to an era of broad-based growth, with approximately 423,000 new private sector jobs created in eight years, as business returned to the center of city life

This is true. Rudy is banking on riding the NYC train all the way to the White House. His biggest success story is how he turned around a city that was beginning to crumble from within. He has shown the ability to cut taxes while still operating with a surplus, and he has shown the desire to operate debt-free. His track record for helping to create more jobs in the private sector stands for itself. Rudy is a big advocate of cutting taxes, restoring the national deficit, and creating more jobs. These are three key things that directly affect you. Cutting taxes will put more money in your wallet, restoring the deficit will improve the economy, and creating more jobs gives you more opportunities to make more money.

Whether Rudy will actually follow through with these issues is another story, but all we have to go on is what he did with New York City. Based on those facts, it looks promising.

Fiscal Discipline: I dont know if the issues on his website are listed in any type of order, but he has fiscal discipline listed first. I have heard Rudy speak on the radio and on televisoin about his commitment to eliminating Washington wastefulness and putting more accountability into effect when it comes to spending our hard-earned money. I want to believe him, but it’s hard to believe that an attorney wiill make this a priority. I hope he does, but I am suspect.

Cutting Taxes: Again, his track record in New York shows that he’s committed to cutting taxes. I think he’s a good choice for president if this is a main concern of yours. He knew that cutting taxes in NYC would greatly help the economic growth of the city. So, why wouldn’t he do it for the country if he did it for NYC?

Capitalism: No one will ever tell you that they are against capitalism, but their actions prove louder than words. The fact is that many liberal democrats tend to favor programs and legislation and hinder capitalism, while conservative Republicans support legislation and programs that promote capitalism. You’ll hear some people lable them as for “big business”. If you favor the promotion of capitalism and the ideas that drive it and the economy, then Rudy is a candidate for you to consider.

Disclaimer: I am not trying to favor any type of candidate, but I am only human. I am sure my biases will show in these posts, but be aware that I am trying to give you a few nuggets of information to help you make an informed decision about each candidate. If I didn’t give you my opinions along with the facts, you’d probably fall asleep.

I’ll profile the next candidate, Barack Obama, next Tuesday.

My disclaimer to this series is that I want to give you a clear look

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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  • Hobo Ken

    Rudy’s website isn’t the best place to get information on how he handled the NYC economy. You might like to check out the New York Daily News which shows Rudy taking credit for tax cuts by others.

    So yeah, taxes were cut 23 times whilst Rudy was mayor, but to say he reduced or eliminated taxes 23 times is pretty stupid. The New York Independent Budget Office says eight of those “were … driven by state policy”. And it doesn’t mention how Rudy counts the STAR tax cut twice. And it doesn’t mention how Rudy sued New York state to try and keep the commuter tax.

    Also, while he did see a $2.3 million deficit become a surplus, in some years, he managed to spend that surplus and leave his successor a bigger $3.3 billion deficit. And that’s without the costs associated with 9/11. I don’t know about you but I’ve never been a big fan of tax-and-spend.

    Next time do some basic research. Anyone who doesn’t know how inept Rudy was at running New York might have been suckered to vote for him.

  • Sean Richardson

    How abut a useful profile on Ron Paul. Hes quite conservative, if you define conservative in the same way I do. Pro capitalism, small government, etc.

    Please do not think he is a quack, which most republicans seem to. Look him up if you still believe he is a quack.

  • AmericaWideOpen

    Ron Paul is the only candidate that will curb full-on socialism and economic collapse. Please find out more at http://www.ronpaul2008.com

    A lot of prayer would help too!

    http://www.americawideopen.com

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