Romney Hits A Home Run With The American People In Wednesday Night’s Debate.
Posted by Brooklyn Young Republican Club
has firsthand knowledge of what happens when the heavy hand of government operates in the economy.
The hot economic issues – entitlement programs, taxes, job growth – occupied the beginning of the debate, with the candidates offering divergent views on how economic growth happens and who will best foster it. President Obama continued to offer rhetoric about how the economy grows “outward from the middle class,” as he and his party have been doing consistently since their convention. This implies that the President’s actions provide direct
benefits to the great mass of the American public; to hear the Obama economic plan, government action will result in higher incomes and more jobs, with little action necessary by anyone except federal bureaucrats.
Our party’s nominee demonstrated a more nuanced understanding of economic cause and effect, and while he did not offer the feel-good platitudes that the President is fond of, he outlined a plan that relies far less on government action and welfare statism. For example, Obama highlighted his plan for the federal government to fund the hiring of 100,000 new teachers. However, as Governor Christie in New Jersey pointed out, states and localities simply cannot afford more government employees. The President didn’t sell this as a massive increase in public sector employment (which will lead to more power for public employee unions, a key Democrat support base) – he simply expected us to believe that 100,000 new government employees will help the economy. Mitt Romney noted – somewhat humorously, but accurately nonetheless – that with five sons, he is used to hearing things over and over in the hopes that he will eventually start to believe them. Trying sell ideas so lacking in substance as the President’s plan is to be expected of children trying to put one over on their parents, but is unacceptable to try to put this over on the American public.
Gov. Romney also noted that his plan for entitlement programs – Social Security and Medicare, which Democrats have owned as political issues since Presidents Roosevelt and Johnson created them – does not change the level of benefits for anyone who is currently retired or nearing retirement, but the President’s signature program – the Affordable Care Act –takes over $700 billion away from these programs. Despite Democrat scare tactics, such as the
infamous commercial showing a Paul Ryan-esque looking character throwing an old woman in a wheelchair off a cliff, these claims do not stand up to reality.
Demonstrating his understanding of the tax code and how it affects Americans struggling to work, save, and build businesses, Mitt Romney cited the example of a small business based in St. Louis that got caught in a high tax bracket, and paying over 50% of its income in taxes, despite only having four employees. When the President accused Romney of wanting to lower taxes on the wealthy, Romney pointed to businesses such as this one that are paying individual income tax rates, not corporate income tax rates. On paper, therefore, this business is treated as a single rich taxpayer, not as a future job creator that should be allowed to reinvest and retain its earnings to plan for its expansion. Yet when Barack Obama talks about “tax cuts for the wealthy,” he does not point out how his, and the IRS’, definition of “wealthy” is far different
from what you or I might think. It is this kind of illogical policy that makes doing business difficult and is responsible for economic stagnation.
While the media perception of Mitt Romney being behind in this election has
undoubtedly skewed many viewers’ attitudes going into last night’s meeting of the minds, the clear winner in any matchup between the businessman and the politician will be Romney. It is up to the voter to analyze each issue for his and herself; there is only so much spin and bias that can be mustered to cover up the intellectual bankruptcy behind Barack Obama’s vision.