Author Topic: Mitt Romney's Economic Stimulus Plan  (Read 312 times)

Trauma-san

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Mitt Romney's Economic Stimulus Plan
« on: January 23, 2008, 06:25:50 AM »
Basically, tax cuts for the poor, businesses, senior citizens, and the middle class.  How anybody can be against this is beyond my comprehension.  This comes from a guy who spent his life making fucking fortunes turning companies around, this is his plan to help the U.S. economy.

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Governor Romney's Economic Stimulus Plan – Washington Must Act Now:

Governor Romney's Economic Stimulus Plan Would Provide Much-Needed Relief To Taxpayers, Businesses And Homeowners. Today, our economy is facing unprecedented challenges both here at home and abroad. Our economy needs pro-growth stimulus, but Governor Romney believes any stimulus package should return money to American taxpayers, not increase already out-of-control government spending. To promote economic growth, Governor Romney is proposing an economic stimulus plan that would lower taxes on individuals, reduce taxes for businesses and help homeowners through the current housing crisis.

- Individuals: Governor Romney would permanently reduce the lowest income tax bracket, permanently eliminate payroll taxes on seniors and make middle-class savings tax free.

- Businesses: Governor Romney would institute immediate 100% expensing of equipment for two years and permanently reduce the corporate tax rate.

- Homeowners: Governor Romney would reform and expand Federal Housing Administration (FHA) loan portfolio limits to allow larger loans to homeowners.

Governor Romney Urges Our Leaders To Work Together And Immediately Debate, Pass And Sign A Stimulus Package For The American People. If our representatives in Washington can work together and demonstrate the leadership that the American people deserve, Governor Romney is optimistic that we can still turn this economy around. Washington must get to work immediately and pass a bill no later than February 19, a month from today, in order to stimulate our economy.

INDIVIDUALS: Governor Romney's Economic Stimulus Plan – Pro-Growth Tax Cuts For Individual Taxpayers:

Permanently Reduce The Lowest Income Tax Bracket to 7.5%. Permanently cutting taxes for all taxpayers will put more money in workers' pockets and stimulate consumer confidence and spending.

- Cutting The Lowest Tax Rate From 10% To 7.5% Will Provide Up To A $400 Tax Cut To Each American Taxpayer.

- Governor Romney Proposes Providing An Immediate Retroactive Tax Credit Reflecting The Lower 7.5% Tax Rate For 2007 Earnings To Employees Who Earned Less Than $97,500 In 2007. This tax cut would immediately stimulate the economy as taxpayers with the highest propensity to consume receive their increased 2007 tax refunds.

- Permanently Reducing The Lowest Bracket Is A Pro-Growth Tax Cut For The Tens Of Millions Of Americans In The Lowest Income Tax Bracket.

Permanently Eliminate Payroll Taxes On Employees Over The Age of 65. It is not fair that seniors that have worked their whole life and earned their full Social Security benefit continue to owe payroll taxes to the federal government.

- In This Uncertain Economic Environment, More And More Seniors Are Returning To The Workforce. Governor Romney's proposal will provide an immediate tax cut to working seniors.

- Governor Romney Believes That Seniors Have Already Earned Their Full Social Security Benefit And Should Not Owe Additional Payroll Taxes For Income Earned After Age 65.

Make Middle-Class Savings Tax Free. Governor Romney's plan will allow middle class Americans to save tax free by changing the tax rate on interest, capital gains and dividends to absolutely 0%. By helping more Americans save and invest, we can meet the challenges of an aging population and ensure the financial security of America.

- Allow Over 95% Of American Families To Save And Invest Tax Free: Any taxpayer with Adjusted Gross Income under $200,000 would pay a tax rate of absolutely 0% on all of the income they earn from their savings, capital gains and dividends.

- Expand The Investor Class: In recent years, over half of adult Americans have participated in the stock market either directly or through pension plans and mutual funds. Tax-free savings will encourage more families to build wealth by saving, investing and participating in the stock market, which will help grow the economy.

BUSINESSES: Governor Romney's Economic Stimulus Plan – Pro-Growth Tax Cuts For Businesses:

Institute Immediate 100% Expensing Of New Equipment Purchased By A Business For A Two-Year Period Retroactive To January 1, 2008. This plan would allow both large and small businesses to immediately invest in new equipment and capital improvements, which would immediately stimulate the economy and create new jobs.

- Boost U.S. Manufacturers And Vendors: Accelerating and increasing capital investment in equipment and other qualified assets in the U.S. will immediately provide a boost to U.S. manufacturers and vendors.

- Encourage Additional Business Investment: Entrepreneurs and small businesses, such as S corps and LLCs, which often face cash flow difficulties, will benefit greatly by the reduced cost of investment in equipment under this plan. Additional investment and expansion by these growing businesses will drive economic growth.

Reduce The Corporate Tax Rate To 20% Over Two Years. Governor Romney believes we should immediately act to reduce the corporate rate to 25% for 2008 and 20% in 2009. A permanent U.S. corporate tax rate of 20% will attract capital, stimulate investment, and increase American competitiveness with the rapidly growing economies of the world.

- A More Competitive Corporate Tax Rate: Governor Romney has spoken throughout the campaign about the need to reduce our corporate income tax rate in order to compete more effectively against other countries with lower rates. The United States currently has the second-highest corporate tax rate in the Organization for Economic Co-operation and Development.

- Encourage New Capital Flows Into The United States: Cutting the corporate tax rate will cause new capital to flow to the U.S. and make our U.S. companies more competitive by providing additional funds for research, development, innovation, and hiring of additional employees.

HOMEOWNERS: Governor Romney's Economic Stimulus Plan – Helping Homeowners:

Reform And Expand Federal Housing Administration (FHA) Loan Portfolio Limits:

- Lower The Amount Of Upfront Down Payment A Borrower Must Make, Allowing FHA To Help Nonprime Borrowers Who May Not Be Able To Meet The Current Requirement.

- Raise The Maximum Loan Amount Eligible For FHA Insurance, Allowing FHA To Serve More Borrowers In Higher-Priced Areas.

- Expand NeighborWorks America's Foreclosure Avoidance Initiative: Governor Romney proposes expanding NeighborWorks America's Foreclosure Avoidance Initiative to help American homeowners stay in their homes. NeighborWorks America assists homeowners by offering foreclosure counseling and identifying refinancing opportunities for U.S. homeowners.

Governor Romney's Pro-Growth Tax Agenda:

Governor Romney's Economic Stimulus Plan Is In Addition To His Tax Proposals Which Will Provide A Sound Economic Framework For Long-Term Growth:

- Make The Bush Tax Cuts Permanent: Making the Bush Tax Cuts permanent is the first step to ensuring that Americans are able to keep more of their hard-earned money.

- Roll Back Tax Rates For All Americans: As President, Governor Romney will cut marginal tax rates across the board, allowing all Americans to save more money.

- Kill The Death Tax: It is unfair to tax Americans three times: first when they earn their money; second when they invest it and receive income from those investments; and third when they die.

- Make The Research And Development Tax Credit Permanent To Encourage Capital Investment And Innovation: Governor Romney believes that we must encourage companies to invest more in research and development to produce the innovations our companies need to win in the global economic competition.

- Oppose Any Increase In Social Security Taxes: We can strengthen Social Security without resorting to higher Social Security taxes that will impact all Americans. Governor Romney will oppose any proposed increase in Social Security taxes.

- Prevent The Alternative Minimum Tax (AMT) From Hurting More American Families: At the very least, Congress must pass a patch to the AMT that will prevent this tax from affecting more and more families in America.
 

smegma

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #1 on: January 23, 2008, 07:23:35 AM »
Basically, tax cuts for the poor, businesses, senior citizens, and the middle class.  How anybody can be against this is beyond my comprehension. This comes from a guy who spent his life making fucking fortunes turning companies around, this is his plan to help the U.S. economy.

It sounds all good, but I can't help but think this guy has too many secret hidden agendas.
 

Trauma-san

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #2 on: January 23, 2008, 07:40:33 AM »
So basically you're afraid of him?  Think about what you just said.  Too many secret agendas?  Have you done any research into his time as Governor of Mass. and seen if he had any secret agendas then?  Did he have any secret agendas when he ran and was extremely successful turning the Salt Lake Olympic games around?  Were there any secret agendas when he donated his pay as Governor and his pay as pres. of the olympics committee to Charity?  This is a great man, you should look into what he thinks and not worry about him being Mormon.  Think how rediculous that is to think somebody's shady because of their religion, and ignore every other great thing he's done in his life.  Look @ his family.  He's been married 40 years and has 5 sons who are all married.  I'm not saying that's something fantastic, I'm saying that's something rare and it shows a family led by a strong father.  If you can look @ a man's personal life and see stability and success, it's a good indicator that he's got good character skills. 
 

smegma

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #3 on: January 23, 2008, 07:53:51 AM »
So basically you're afraid of him?  Think about what you just said.  Too many secret agendas?  Have you done any research into his time as Governor of Mass. and seen if he had any secret agendas then?  Did he have any secret agendas when he ran and was extremely successful turning the Salt Lake Olympic games around?  Were there any secret agendas when he donated his pay as Governor and his pay as pres. of the olympics committee to Charity?  This is a great man, you should look into what he thinks and not worry about him being Mormon.  Think how rediculous that is to think somebody's shady because of their religion, and ignore every other great thing he's done in his life.  Look @ his family.  He's been married 40 years and has 5 sons who are all married.  I'm not saying that's something fantastic, I'm saying that's something rare and it shows a family led by a strong father.  If you can look @ a man's personal life and see stability and success, it's a good indicator that he's got good character skills. 

Actually, the fact that he is mormon does worry me. You're right. I have been around mormons and I noticed that if you get to know them better, you find out a lot of them aren't exactly the perfect citizens they portray themselves to be. Plus, what really annoys me about mormons (apart from young adults who don't want to be mormon, ha) is that they can't stop talking about God once they find out you're not a mormon. This doesn't mean Mitt Romney wouldn't be a bad president, but I have a hard time believing this guy has less hidden agendas than other candidates who run for president simply because he's mormon.
 

Teddy Roosevelt

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #4 on: January 23, 2008, 08:09:59 AM »
Basically, tax cuts for the poor, businesses, senior citizens, and the middle class.
This is basically the platform that every Republican candidate runs on.
 

virtuoso

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #5 on: January 23, 2008, 11:20:25 AM »

If the trade deficit and budget deficit is not addressed, then tax cuts will not do much to revitalise anything. The world markets are extremely nervous about the dollars continued slide, the U.S needs to allay those fears. If they continue to ignore the above, then it's a full blown recession and that's about the best that can be hoped for, the worst case is a full blown depression but I don't even want to think about.
 

Machiavelli

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #6 on: January 23, 2008, 04:26:45 PM »
ok, but u need to cut spending if you want to cut taxex, if not the deficits increases and the fed is just gunna print more fake money causing more inflation and weak currency
 

Real American

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #7 on: January 23, 2008, 05:20:44 PM »
Right now I think I am leaning towards voting for Romney in the primaries. But I agree, someone needs to address the real issue of reducing spending.
 

Narrator

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #8 on: January 23, 2008, 06:45:26 PM »
Right now I think I am leaning towards voting for Romney in the primaries. But I agree, someone needs to address the real issue of reducing spending.

Right, what we need to do is implement my Pan-African Socialist program to take wealth away from the crackers and Jews and put it back in black hands.  We also need to silence anyone who opposes us, by force if necessary.  Only Obama will do this when I tell him to.  Obama '08, ya'll!
 

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #9 on: January 25, 2008, 05:55:53 AM »
ok, but u need to cut spending if you want to cut taxex, if not the deficits increases and the fed is just gunna print more fake money causing more inflation and weak currency

Exactly.  Co-sign.


See, all Mitt Romney is doing is telling the people what they want to hear.  He's basically saying that not only is he going to fix the economy and save us from hard times, but its going to be a walk in the park, all we have to do is look forward to taking home more money each week from our checks and bigger tax breaks at the end of the year, and more money for businesses, seniors, and the poor!  Whoopty dooo!   Don't you just love government!

Ron Paul (and the Libertarians) are the only politicians real enough to admit to the people that its not the government that "fixes" the economy.  The free market is what determines the health of the economy.  When government gets invovled and tries to "fix" the free market, then it becomes a political game and it doesn't truly address the needs and wants of the people.

Unlike Mitt Romney, Ron Paul (and the libertarian platform) is not afraid to tell people the truth, and the truth is that to cut taxes you have to cut spending.  People don't want to talk about cutting spending, they want a free ride from the government. 

The war on terrorism is a manufactured war to create a business and industry that the politicians and their cohorts can all benefit from.  Mitt Romney has already said that he would increase military spending.  And the largest chunk of our taxes go to military spending.  Ron Paul has said that the most obvious way to cut spending is to greatly reduce the size of the military oversea's.

Ron Paul openly advocates cutting many other government programs as well (such as FDA, the FED, the War on Drugs, the list goes on forever) and people don't like that cause they believe they benefit too much from government programs, but it must be done.  You can't spend and tax at the same time, and just keep printing more money.

My point is, until Mit Romney has the balls to tell people how he is going to cut spending he needs to shut up and quit lying to the people telling them that he can "fix" the economy by simply cutting taxes.  This is a fairy tale people should see right through.
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Trauma-san

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #10 on: January 28, 2008, 06:28:54 AM »
ok, but u need to cut spending if you want to cut taxex, if not the deficits increases and the fed is just gunna print more fake money causing more inflation and weak currency

Romney has turned around business after business in his private life, and gotten extremely wealthy in the process.  He knows more about cutting spending and balancing budgets than any of us do.  If you believe the economy is the biggest issue facing America, Romney is clearly the man who has the greatest chance of affecting that. 
 

Trauma-san

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #11 on: January 28, 2008, 06:30:17 AM »
My point is, until Mit Romney has the balls to tell people how he is going to cut spending he needs to shut up and quit lying to the people telling them that he can "fix" the economy by simply cutting taxes.  This is a fairy tale people should see right through.

Yeah, it's only happened thrice the three times it was implemented, first by John Kennedy (a liberal), second by Ronald Reagan, and then again by George Bush in 2001.  So yeah, it's a 'fairy tale', just like Barack Obama kicking ass all over the u.s. was a fairy tale to Clinton. 
 

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Re: Mitt Romney's Economic Stimulus Plan
« Reply #12 on: January 28, 2008, 08:50:19 AM »
Paul has more economic background than Mitt. Paul has served on the joint economics commitee and has two of the top economists in this country on board his campaign now.