If conventional wisdom is to be believed, the next President of the United States will be selected on one issue: jobs. In the inaugural post of an ongoing feature examining the positions and records of Mitt Romney and Barack Obama, PoliticOlogy takes a look at Mitt Romney’s job plan, examines its claims and analyzes whether it can deliver.
Mitt Romney’s Job Plan
The heart of Romney's complaint over Obama’s dismal economic record is the President's hesitation about tax policy reform, which has resulted in "a business climate marked by hesitation." This has been a common trope by conservative critics throughout the Obama administration: if only business people were more certain, they would be creating enough jobs to end this depression now, even as it's unclear what ending this uncertainty would entail.
Romney’s plan purports to mitigate economic uncertainty and create jobs in three ways:
- Reducing Marginal Tax Rates: Romney's principal component of his jobs plan revolves around changes to the tax code. Romney complains that the marginal tax rate is too high, and drags down job creation.
- Corporate Taxes: Similarly, Romney complains that the US corporate tax rate, 39%, is the highest in the developed world and calls for it to be lowered.
- Eliminate Regulation: Romney wants to get rid of a good amount of our financial regulation, particularly Dodd-Frank.
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Related Post: Is A Romney Presidency The Best Solvent For Legislative Gridlock?
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