Posted on 01/30/2012 10:06:02 PM PST by Nachum
If we judge both leading contenders in the Republican primary, Newt Gingrich and Mitt Romney, by what they've done in life and by what they propose to do if elected, either one could be an excellent president. But when it comes to the election's core issue—restoring a healthy economy—the key is a good tax plan and the ability to implement it.
Mr. Gingrich has a significantly better plan than does Mr. Romney, and he has twice before been instrumental in implementing a successful tax plan on a national level—once when he served in Congress as a Reagan supporter in the 1980s and again when he was President Clinton's partner as speaker of the House of Representatives in the 1990s. During both of these periods the economy prospered incredibly—in good part because of Mr. Gingrich.
Jobs and wealth are created by those who are taxed, not by those who do the taxing. Government, by its very nature, doesn't create resources but redistributes resources. To minimize the damages taxes cause the economy, the best way for government to raise revenue is a broad-based, low-rate flat tax that provides people and businesses with the fewest incentives to avoid or otherwise not report taxable income, and the least number of places where they can escape taxation. On these counts it doesn't get any better than Mr. Gingrich's optional 15% flat tax for individuals and his 12.5% flat tax for business. Each of these taxes has been tried and tested and found to be enormously successful.
(Excerpt) Read more at online.wsj.com ...
Over the weekend, I got an e-mail from a friend who was at a mall. He specifically asked a manager of a clothing store if any of their clothes are made in the US.
Answer: “No.”
“Mr. Gingrich has a significantly better plan than does Mr. Romney”
Just about everything Newt proposes is better than Romney. And, unlike Romney, Newt has the experience working in Washington to get his plans enacted.
Romney will just manage the decline.
Newt will reverse the decline and restore America.
With Mitt as the nominee Romneycare will make Obamacare a non-issue.
Romney will be cast as the $250 million dollar elite that he is — the perfect punching bag for class warfare rhetoric.
And as we know, Romney comes across as a duffus — awkward, suspiciously guarded, faking a grin as if he doesn’t want us to find out what is really behind his plans.
While Obama will not directly attack his religion, we know that Mormonism will be an issue. There are already website that make fun of his Mormonism. He was a pastor (bishop) in his ward. The attacks will sound like this: “How can you vote for a guy who thinks he is a future god? Who has spirit wives and believes God has a physical body and lives on the planet Kolob?”
I’m always amazed how they (politicians) pull a taxing percentage out of their asses.
Flat tax all around, I don’t think so. Because the little people will end up paying corporate taxes via price increases.
Make it a flat tax for businesses and a commodity-less consumption tax for the little people. This way Congress get a steady inflow of taxes from business and Congress has to figure out how not to interfere with consumers buying or they will hurt their own tax receipts.
I don’t see where Congress needs more taxing power of GDP than 10%...ever, except for self defense, in which case Congress would probably declare (economic) war via so called foreign countries’ price attacks and then continuously hold the tax rates at 50%.
None of this really matter if the banking system melts down tomorrow. Of course that will be a chance to start over again and Congress can go back to spending more than they take in.
bump
This is one issue where Gingrich holds a serious advantage over Romney and Santorum whose plans are very complex.
What makes you think they don't already??
"Make it a flat tax for businesses and a commodity-less consumption tax for the little people."
How about NO separate tax on businesses, and a national sales tax anything except food, housing, and prescription drugs. Both businesses and individuals pay the sales tax.
Yeah, I know but a flat tax on anything prevents getting out from under paying taxes through exceptions and deductions.
The first thing that happens with a new tax plan is that liberals begin trying give breaks to the poor which defeats the whole purpose of a flat tax.
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