We shouldn't specifically have Election Day off work. Everyone should get one paid day off in the period of early voting or election day. It'll prevent the hours-long wait times at the polls on election day and allow businesses to stay in operation by spreading out the time when workers are off to vote.
I'd prefer it even more if the money for the vacation time were paid by the government, but only of the person actually votes. Otherwise, you'll just find a bunch of cruise specials around election season meant to capitalize on the extra vacation time, and voter turnout won't be significantly impacted.