◼ Mitt Romney's tax plan is a winner, and, lacking a serious rebuttal, President Obama settles for fabricating charges. - Peter Ferrara/American Spectator
The only candidate in this race proposing to increase taxes is Barack Obama. He has already enacted increases in the top rates of virtually every major federal tax, which will go into effect January 1. That is when the tax increases of Obamacare will hit, and when the Bush tax cuts will expire. (Remedial education for Obama supporters: "Bush tax cuts expire" means tax increases)....
Mitt Romney, in sharp contrast, actually has a very good tax plan that will get the economy booming again and restore the American Dream. The key is reducing tax rates, in particular marginal tax rates, which are the rates that applies to the next dollar of income. Marginal rates determine the incentive for productive activity, such as working, saving, investing, expanding businesses, starting businesses, or creating jobs....
But President Obama tells us on the campaign trail that we already tried Romney's approach, and it didn't work. So what does the record show?
The Bush tax cuts quickly ended the 2001 recession, despite the contractionary economic impacts of 9/11, and the economy continued to grow for another 73 months. In the four years after the rate cuts were fully implemented, the economy created 7.8 million new jobs, and the unemployment rate fell from over 6 percent to 4.4 percent. Real economic growth over the next three years doubled from the average for the prior three years, to 3.5 percent....
But as a career Marxist street agitator, President Obama has no idea what works and what doesn't. That is why, after four years as president, he still has America in the ditch. And if the American people are stupid enough to give him another four years, he will have America completely under water. Read the whole thing, very informative.
