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Saturday, September 17, 2011

Some Thoughts on Romney's Economic Thoughts

I would like Mr. Romney to explain how tax cuts that benefit business and the all ready wealthy will help our economy? The problem is that the driving force of the American Economy (ie the consumer) is heavily in debt. While lowering taxes in the long run is a good thing (as long as it is done in an efficient way) in the short term none of that will matter if Americans are still unable to spend on goods. By freeing them from that debt you open up their ability to spend again, which benefits business as well as shareholders. Where as his plan only benefits business and shareholders (but I would argue the other way would benefit them far greater).

From there one is better able to reform the tax code by lowering rates and broadening the base. Admittedly I would love to see Romney's end goal but I think how he gets there will never work.



Here is the Charlie Rose interview that spurred this.