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In the Media

article imageOp-Ed: Economy needs something drastic according to Romney

article:330188:4::0
By Greta McClain
Aug 6, 2012 in Politics
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Evansville - Republican presidential candidate Mitt Romney is calling for "something drastic" to help stimulate the US economy, but other then calling for the same things he has been calling for, he is not saying what he proposes.
Romney was quoted as saying, "I can absolutely make the case that now is the time for something dramatic and it is not the time to grow government. It's the time to create the incentives and the opportunities for entrepreneurs and businesses big and small to hire more people and that's going to happen." He went on to say he opposes another federal stimulus package and that the economy will not be helped if the Federal Reserve begins another buyout plan of government bonds and mortgage-backed securities. Romney continued by saying "I also hope people understand when they talk about raising taxes on the wealthy – as the president does – he is also talking about the same tax rate that applies to small business," Romney said. "The great majority of small businesses pay taxes at the individual rate so as he raises these taxes "on the wealthy" he is raising taxes on small business."
However, according to a study by the Tax Policy Center and in an article by the Tampa Bay Times, only 2 percent of small business owners make more then $250,000 and would be impacted by current tax plan.
So, does that mean that Romney’s “drastic plan” is going to be to continue to give tax breaks to the most wealthy of American citizens? This country has tried the “trickle down theory” of economics twice in our history and the theory has failed on both occasions. Being as Romney does not appear willing to give any specifics as to what his "drastic plan" may be, we are left wondering if it will indeed actually help grow the economy, or will it actually harm it further.
Political candidates can say they will do certain things all they want. But, if they cannot give voters more then the possibility of the same old failed theories, it is hard to put much hope into what they are saying.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com
article:330188:4::0
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