Mitt Romney’s Stimulus Package
Pretty good, if you ask me:
–To permanently cut in the lowest income tax bracket to 7.5 percent from 10 percent.
–To make that cut immediately retroactive to 2007 tax liabilities.
–To permanently eliminate Social Security payroll taxes for workers over 65.
–To provide 100 percent expensing of new equipment purchased by businesses over two years retroactive to Jan 1 2008.
–To permanently reduce the corporate tax rate to 20 percent from 35 percent over two years.
–To permanently eliminate capital gains and dividends taxes on households earning under $200,000 a year, an idea he has previously proposed.
That is supply-side with some real teeth in it - but, also, with the reduction of the lowest bracket to 7.5%, he also gets to gather in a bit of populism at the same time. Very clever, and very good - as I’ve said in the past, Romney has excellent credentials for being President, and I’ll enthusiastically back him against the Democrats should he gain the GOP nomination…but, for now, I’m going to stick with Fred Thompson.
24 comments January 19th, 2008
