Part Three: Mitt Romney's Plan (Tax Policy)

Now that we have gotten past all of the fluff of the introduction, the assessment of America in our economic crisis and the "failure's" of President Obama we can move on to Romney's Plan. This is the bulk of the book that he has released and should be the most interesting. So without further ado, here is the first section of Part Three: Tax Policy.

As an introduction to Part Three, we have the pleasure of reading through a five page cover letter from Romney. This snooze-fest gives you his whole background and why he thinks he should be President. I think a simple one-page resume could have done just as well.

I am replying to your ad on Craigslist
for the position of "President"

The Obama Approach: "Eat Our Peas"

Man, I think Romney is more obsessed with Barack than anyone else. So in this incendiary rhetoric, Willard explains that Obama wants to "balance" things by cutting spending and raising taxes against those making over $250,000 a year. Obama has redirected this revenue to the health sector. According to Romney, "[t]he consequences of this will be invisible, but all Americans will suffer them in the form of cures that go undiscovered." How can we suffer by a lack of something that never existed? Well come to think of it, I am really starting to feel the absence of the extra $3,000 a month that I don't make. 

Mitt Romney's Plan

Romney wants to completely redesign the tax system by "broadening the tax base" to help "promote economic growth". Translation: Tax the poor and middle class more so that the rich can provide jobs with their extra money.

Individual Tax Rates

 After explaining that the government needs taxes to help provide the services that it does for us, he gets to the juicy part. Shockingly, Mitt supports the Bush Tax Cuts and thinks that the Marginal Tax Rate should stay low to influence people to spend their money and put it back into the economy. He would expand upon this by reducing the tax rates on Savings and Investments. Probably a little personal interest there, what with all the money you make off of your Bain Capital investments Mr. Romney. He would also work to eliminate the Death Tax by using words like "pernicious" and "stricken". Romney is also an advocate for a simpler tax system that is much easier to understand and work with. 

Corporate Tax System

This one shouldn't be too hard to figure out: lower taxes on corporations. "It is vital that we move quickly to reduce the corporate tax rate." Nailed it! As we move away from the explanation about the lower rates, we should see a smooth segway into the corporations are people stance... "The truth is, as Mitt Romney likes to say, 'corporations are people.'" Damn is he predictable! Now we need him to throw some numbers our way about how other countries earn more from their lower rates... "At least 75 countries... have cut their corporate tax rates in just the past four years." If Romney wasn't childish enough, now he pulls the whole, "everyone else is doin' it!" card.
Transition to a "Territorial" Tax System
Now I am paraphrasing here, but what I got out of this 4 page description of the "Territorial" Tax System is that whenever a company does business with the United States off of our soil, they have to pay a corporate tax rate to us that equals the difference between the host countries rate and ours. So if the tax rate is 20% is Britain and 35% here, the company must pay 15% to the US. Romney will "act immediately" to change this.
Guest Appearance!
Oh lucky us! A guest letter written by Scott McNealy, the CEO of Sun Micrsystems, who is writing to enforce the fact that corporations are people. Through this he also claims that the number of jobs he has created would go up if there was not so much tax money going to the IRS.
That is where we finish the Romney Plan for Taxes. Next up is his Regulatory Policy. That should be short and sweet if he truly is the conservative he claims he is.

In other news: Rush Limbaugh is a dick.