Posted on 02/24/2012 12:52:11 PM PST by Christie at the beach
By STEPHEN MOORE Overlooked because of the buzz about Republican presidential candidate Mitt Romney's new 20% income tax cut plan was the latest splash out of rival Newt Gingrich's economic policy shop. Mr. Gingrich has announced he will use dynamic, not static, scoring to demonstrate his plan's potential to jumpstart growth. The former House speaker arguably has the boldest tax plan, which includes a 15% optional flat tax. He would also allow young workers to take a share of their payroll tax dollars and divert the funds into a personal IRA. These plans have come under attack from liberal groups like the Center on Budget and Policy Priorities and even from some of Mr. Gingrich's fellow Republicans. On Thursday Mr. Gingrich showed that using this dynamic scoring -- which takes into account the extra economic steroid effect of the plan -- there would be six million new jobs in two years. The new economic numbers, from former Reagan economists Peter Ferrara and Gary Robbins, also show that the Gingrich policies would balance the budget within the first term of his presidency. In an interview, Mr. Gingrich said that "we make the most serious cuts in entitlements of any of the candidates." He's embraced many of the Paul Ryan entitlement reforms and calls for a sweeping devolution of the welfare programs to the states. Mr. Gingrich stressed "the crucial role that growth plays in balancing the budget. We figured that out when I was speaker." There's no doubt Newt is the real supply-sider in this race," said Mr. Ferrara. "And now we have evidence the numbers actually add up." Exciting stuff, but whether that's enough to jump start a candidate who was briefly a front-runner but has slid into the teens in recent polling is yet to be seen.
(Excerpt) Read more at online.wsj.com ...
Bump for NEWT
Side lined, dwarfed by cash, media blacked-out, and smears proportional to the giant he is, Newt Gingrich simply can not be shut up!
We the People CAN make him a “movement”, and MUST, if he and we are to survive this present danger—fall of our country.
How do we get a necessary movement done, while pecking around the edges of seriousness in a deadly serious
election, as if this were an ordinary race, in an ordinary primary, in an ordinary time?
I am afraid we have got to exert ourselves, get bigger than NEWT.org! We need to be the occupiers somehow, one village at a time.
Also interesting was the comment from ‘Eric Baum’. Me thinks he understands what many of us on FR understand, Keynesian economic policies DON'T WORK.
Eric's comment:
“Its absolutely standard economics that when you tax wealth creation, you get less of it. The only question is the magnitude. Economists from Feldstein on the right to Christine Rohmer on the left have found it costs the economy perhaps $3 for every $ the government raises. To my mind, this is the most salient fact in all economics, and it is routinely ignored. Howevermuch some ridiculous government program seems to cost, it really costs us as a nation three times that much. This is a key reason why it is so bad to pay for things like health care with government dollars.
In reality gains from tax increases are going to be negative. I don't frankly understand why anybody would pay attention to “scoring systems” that are linear when it is absolutely clear they more or less get the sign wrong.
And you see this all, btw, reflected in the obvious fact that the real Keynesian multiplier is negative. Hence Obama’s results, Reagans, Hoovers, FDR's, and last but not least Harding's, who ended the biggest depression in US history (GDP down 25% year on year) and brought on the roaring ‘20’s within 18 months by slashing the Federal budget 50% and running a surplus.”
It's not just the folks that own the oil companies, put people to work and compensate the land owners.
It's the folks that make the drills and parts, it's the Trucker who hauls the sand, water, cement.
It's the folks that build RV Parks for the workers, build apartments, expanding existing business, and restaurants.
The new Hotels, the new WalMarts, the new HEB grocery stores. All of the above are hiring. Our little town paper is full of employment adds.
Last of all the big Oil Companies are building new offices and new plants. This takes building materials, cement, office furniture.
We are building towns folks and Newt sees the opportunity, I just hope it's not to late.
Just made another donation. “;^)
GO NEWT!!!
Me too. Thanks for the information.
Bless you, B9. I made another donation this week.
I plan do again next week. I figure I can give up my hobby $$ to Newt.
Is there a link somewhere for the latest News-Max letter? Or does one have to subscribe to it?
I sent you a private reply. You may have two copies of the letter. I have no idea how I got on their list.
After listening to Newt speak on The Record, how could anyone consider voting for anyone else? No fumbling around when he speaks!
Newt will be the bull in the GOP and congressional china Shop!
GO NEWT!
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