Thread: Mitt Romney’s Smart Tax Plan

Mitt Romney’s Smart Tax Plan
Investment-friendly tax cuts, not one-time rebates
31 January 2008
Nicole Gelinas

Former Massachusetts governor Mitt Romney made a respectable showing in Tuesday’s Florida primary, and that’s good news for Americans worried about both the home-mortgage meltdown and their tax bills. Unlike Washington politicians, vying to outdo one another printing money to rescue Americans from falling home prices, Romney has proposed a bold long-term tax policy that would encourage Americans to choose their investments, both housing and otherwise, more wisely.

For the past two weeks, what’s passed for a debate in Washington over taxes and the mortgage crisis is an inane frenzy over a “stimulusâ€

I think one of the best stimulus to the economy would be to get the price of oil down. Sometimes it doesn't take that much of an increase in supply to create a large effect on the price of a commodity. Simply announcing a strategy to open up ANWR (assuming it has a reasonable prospect of success), or even the Strategic Petroleum Reserve--would send a positive shock to the Energy Complex. The performance of the US stock market is greatly affected by two factors--Fed rate and price of oil.

If OPEC was convinced they would be forced to compete with another source of petroleum we would see a downward spiral in oil--and a prolonged economic boom--at least until the demand once again rises too fast.

While not impressed overall by Huckabee--I do wonder what he proposes in the Fair Tax. Our tax system is a nightmare and has spawned just one more great American industry in the "do nothing sector." But Huch should get out of the race and let Mitt do it.