I think the ethos for Gov. Romney is to use a whole variety of policies, of which tax policy is one, to try to raise the rate of growth. We've had a recovery from the financial crisis that would be well below what one might normally expect for a recovery from such a deep recession. And to counteract that we need better tax policy.
What Governor Romney is proposing is an across-the-board cut in marginal tax rates for households, every household in America by 20 percent. And we'll have to broaden the base to pay for that. Also, a very deep cut in the corporate rate.
I think Governor Romney has a two-part budget plan that very much levels with voters far more so than any candidate in my lifetime.
President Obama has basically avoided or not done any attempt to intervene in any positive way in the housing market. I think in the financial crisis that's been a shame.
The real issue for the public is to figure out which narrative do we want. We can have a bigger government, if that's the public's choice. It'll just require higher taxes on every American. Do you want that, or do you want smaller government, smaller taxes?
The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.
