Romney's 10 Point Economic Plan

My 10-point plan

The president’s economists insist that technically, the recession is over. But double-digit unemployment was neither prevented nor has it ended. To get people back to work as rapidly as possible and to restore America’s economic vitality, the nation must change course. Here’s the advice I would give:

â?¢ Repair the stimulus. Freeze the funds that haven’t yet been spent and redirect them to immediate, private sector job-creation priorities.

â?¢ Create tax incentives that promote business expansion and hiring. For example, install a robust investment tax credit, permit businesses to expense capital purchases made in 2010, and reduce payroll taxes. These will reignite construction, technology and a wide array of capital goods industries, and lead to expanded employment.

â?¢ Prove to the global investors that finance America’s debt that we are serious about reining in spending and becoming fiscally prudent by adopting limits on non-military discretionary spending and reforming our unsustainable, unfunded entitlements. These are key to strengthening the dollar, reducing the threat of rampant inflation and holding down interest rates.

â?¢ Close down any talk of carbon cap-and-trade. It will burden consumers and employers with billions in new costs. Instead, greatly expand our commitment to natural gas and nuclear, boosting jobs now and reducing the export of energy jobs and dollars later.

â?¢ Tell the unions that job-stifling “card check” legislation is off the table. Laying new burdens on small business will kill entrepreneurship and job creation.

â?¢ Don’t allow a massive tax increase to go into effect in 2011 with the expiration of the 2001 and 2003 tax cuts. The specter of more tax-fueled government spending and the reduction of capital available for small business will hinder investment and business expansion.

â?¢ New spending should be strictly limited to items that are critically needed and that we would have acquired in the future, such as new military equipment to support our troops abroad and essential infrastructure at home.

â?¢ Install dynamic regulations for the financial sector â?? rules that are up to date, efficient and not excessively burdensome. But do not so tie up the financial sector with red tape that we lose a vital component of our economic system.

â?¢ Open the doors to trade. Give important friends like Colombia favored trade status rather than bow to protectionist demands. Now is the time for aggressive pursuit of opportunities for new markets for American goods, not insular retrenchment.

â?¢ Stop frightening the private sector by continuing to hold GM stock, by imposing tighter and tighter controls on compensation, and by pursuing a public insurance plan to compete with private insurers. Government encroachment on free enterprise is depressing investment and job creation.

[quote]John S. wrote:
reduce payroll taxes. [/quote]

I say we suspend all payroll taxes (both employee and employer portions) for 6-12 months. Bring them back after a certain period. This will accomplish two things. First the obvious: the immediate benefit of getting back 7.65% of your gross pay will provide more stimulus to the economy that anything we have yet seen. The equal benefit that all employers will receive will increase cash flow and help all business.

The biggest reason I like this is because people will throw a huge fit when the tax is reinstated and suddenly they are losing hundreds of dollars off theire paycheck per month. When this happens we can finally make some real progress towards phasing out these entitlement programs.

Now what are the chances of tax-and-spend liberals doing that?

But that makes way too much sense to be listened to in Washington. That would actually work.

[quote]tedro wrote:

[quote]John S. wrote:
reduce payroll taxes. [/quote]

I say we suspend all payroll taxes (both employee and employer portions) for 6-12 months. Bring them back after a certain period. This will accomplish two things. First the obvious: the immediate benefit of getting back 7.65% of your gross pay will provide more stimulus to the economy that anything we have yet seen. The equal benefit that all employers will receive will increase cash flow and help all business.

The biggest reason I like this is because people will throw a huge fit when the tax is reinstated and suddenly they are losing hundreds of dollars off theire paycheck per month. When this happens we can finally make some real progress towards phasing out these entitlement programs.[/quote]

I have no idea what kind of logistical or fiscal issues that might present during those 6-12 months, but regardless, I like it a lot.

As long as a solution to your big war adventures is not on the list it is all meaningless.

[quote]Bill Roberts wrote:
Now what are the chances of tax-and-spend liberals doing that?[/quote]

ZIP!

Here is Orions 4 point plan:

Cut taxes.

Cut back governmnent.

Pay back debts.

Get out of the fucking way.

Id be such an awesome politician because Id have nothing to do all day and an assistant who says routinely “No!” whenever someone wants some public monies.

[quote]Schwarzfahrer wrote:
As long as a solution to your big war adventures is not on the list it is all meaningless.[/quote]

Dude, he wants to get elected, not solve problems.

No problems, no need for politicians, see?

He’s still for a command economy just different policies. This will not prove successful should they be seriously considered. His list needs to be more like Orion’s.

Nothing will change.

[quote]Gregus wrote:
Nothing will change. [/quote]

Not foundationally and that’s what needs to. It’s hard for me to take Romney seriously after he signed that idiotic healthcare bill into law in Mass. Until he renounces that as the blunder of his career he’s another McCain to me.

[quote]Tiribulus wrote:

[quote]Gregus wrote:
Nothing will change. [/quote]

Not foundationally and that’s what needs to. It’s hard for me to take Romney seriously after he signed that idiotic healthcare bill into law in Mass. Until he renounces that as the blunder of his career he’s another McCain to me.[/quote]

This.

Romney’s look good on paper. His history, in practice, not so much.

[quote]orion wrote:
Here is Orions 4 point plan:

Cut taxes.

Cut back governmnent.

Pay back debts.

Get out of the fucking way.

Id be such an awesome politician because Id have nothing to do all day and an assistant who says routinely “No!” whenever someone wants some public monies.

[/quote]

Of course items 1 and 3 will not co-exist–cutting taxes doesn’t always grows the economy. There are only certain and specific tax cuts that do this, you have to target dollars that if not used to pay taxes would be reinvested in the company.

I think simplifying the tax code would help a lot. How about a Fair tax or Flat tax type proposal?

Again: What are the chances of tax-and-spend liberals doing that?

[quote]BigJawnMize wrote:

[quote]orion wrote:
Here is Orions 4 point plan:

Cut taxes.

Cut back governmnent.

Pay back debts.

Get out of the fucking way.

Id be such an awesome politician because Id have nothing to do all day and an assistant who says routinely “No!” whenever someone wants some public monies.

[/quote]

Of course items 1 and 3 will not co-exist–cutting taxes doesn’t always grows the economy. There are only certain and specific tax cuts that do this, you have to target dollars that if not used to pay taxes would be reinvested in the company.

I think simplifying the tax code would help a lot. How about a Fair tax or Flat tax type proposal?[/quote]

Of course they can coexist.

You forget item 2.

Id be willing to ammend it with “a lot”, for clarities sake.

[quote]Bill Roberts wrote:
Again: What are the chances of tax-and-spend liberals doing that?[/quote]

Humor us for a while, Bill. We are all well aware that none of this will happen under the current administration, but frankly I’d really like to have some reason to be optimistic again.

[quote]SteelyD wrote:

[quote]Tiribulus wrote:

[quote]Gregus wrote:
Nothing will change. [/quote]

Not foundationally and that’s what needs to. It’s hard for me to take Romney seriously after he signed that idiotic healthcare bill into law in Mass. Until he renounces that as the blunder of his career he’s another McCain to me.[/quote]

This.

Romney’s look good on paper. His history, in practice, not so much.[/quote]

I think Romney’s health care bill tells us everything we need to know about Romney. He does not believe in small government, but he is an excellent businessman. He rewrote health care in Massachusetts to prevent people from walking into ER rooms and getting free health care. He actually succeeded in lowering the overall cost of health care in the state until the legislation was altered when he left. The problem with this is Romney purely looks at the bottom line, that is the cost of health care in this case, and fails to recognize the role of government. He believes that if government truly can lower costs or make an industry more efficient then the government has a role in said industry. In this way he is no different than Obama. The only difference is that Romney actually has business sense and could make steps towards lowering costs. The knock on him is that he fails to realize the government is not a business and does not need to have a role throughout the entire economy. For this reason he is nothing more than another big government republican.

[quote]tedro wrote:

[quote]Bill Roberts wrote:
Again: What are the chances of tax-and-spend liberals doing that?[/quote]

Humor us for a while, Bill. We are all well aware that none of this will happen under the current administration, but frankly I’d really like to have some reason to be optimistic again.[/quote]

It might just take candidates actually willing to state that their opponents are tax-and-spend liberals.

The anemic McCain campaign I think never used the phrase for Obama, and I doubt Pelosi and Reid have run into much characterization as such, either.

But of course that is exactly what all three of them are.

Until we name the problem for what it is, it seems unlikely the problem will end.

Actually Robert Reich is pushing for the payroll tax cut.
http://robertreich.blogspot.com/