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In the days following the first Presidential Debate, the spin coming from the mainstream has been that while Republican challenger Mitt Romney “won” the debate, he did so with the caveat that he was lying about how he would address the tax problem in America.
At Engage America, we’re not so much concerned with who “won” the debate, but rather what policies are part of a winning future for the country. We do, however, find it troubling when the mainstream media appears to be mitigating a one-sided debate of the issues.
We wanted a fresh perspective on Romney’s proposed tax plan, so who better to look to that the Father of Supply-Side Economics and inventor of the “Laffer Curve,” Dr. Arthur Laffer. Dr. Laffer’s acumen and influence was vital in triggering a worldwide tax-cutting movement in the 1980s as a member of President Reagan’s Economic Policy Advisory Board for both of his two terms.
In the first video in a series dubbed “Laff Track$” Dr. Laffer in partnership with an organization called Job Creators Solutions sat down to discuss the problems he saw in those chastising Romney’s Tax initiative.
As he puts it:
He (Romney) has described keeping the tax rates low, in fact even lowering some of the other ones even more than they otherwise would be. But in exchange for that, what he would do is get rid of a lot of deductions, exclusions, and exemptions such that there would be no net change in taxes in any one year and therefore the $5 trillion tax rate reduction would be more than offset.
As to why Romney wants to lower tax rates and broaden the base, it boils down to something simple:
If you tax people who work and you pay people who don’t work, don’t be surprised when you find a lot of people not working.
At Engage America we have always believed that path derived from Free-Market polices is the best approach to fixing our massive debt problems. We believe that lowering tax rates and broadening the tax base, much in the same vein of the bipartisan Bowles-Simpson plan, will go a long way in balancing America’s overly complicated budget problems.
We hope you enjoy the video, and share it with all those who are passionate about re-establishing America’s fiscal stability.
Stay tuned for more videos with Dr. Laffer in the near future!http://www.engageamerica.com/defici...-is-groundless/