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Romney’s magic economy plan

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Romney’s magic economy plan - Salon.com

Mitt Romney gets a lot of guff from his critics for his unwillingness to spell out the details of how he plans to fix the U.S. the economy; how exactly his tax reforms will work, for example, or what precisely he will do in his first 100 days to boost job creation. But the best thing about the Romney agenda is that by his own admission, he doesn’t need a plan.
Just getting himself elected is the ticket to prosperity.

Romney was quite clear on this point in his infamous “47 percent” speech. Romney told his audience that “if we win on November 6th there will be a great deal of optimism about the future of this country. We’ll see capital come back, and we’ll see — without actually doing anything — we’ll actually get a boost in the economy.”

The notion that Romney could spur economic growth “without actually doing anything” invites mockery. The Atlantic’s Matt O’Brien memorably dubbed it “faith-based economic strategy.” At the very least it seemed to betray a breath-taking level of unwarranted hubris. But the key to understanding his boast is to ignore the low-hanging fruit (“without actually doing anything”) and focus on five crucial words: “We’ll see capital come back.”

Romney is referring here to the reluctance of corporations to invest trillions of dollars of cash in productive, job-creating uses. It’s a problem acknowledged by both Democrats and Republicans — American corporations have around $1.8 trillion in cash tucked away in savings accounts or invested in low-yield bonds and ultra-safe government securities. Liberal-minded economists believe that corporations are sitting on all that cash because they see no demand in the general economy for their goods and services. Conservatives argue that the real problem is the prospect of higher taxes and burdensome regulations imposed during a second Obama term.

Mitt Romney gets a lot of guff from his critics for his unwillingness to spell out the details of how he plans to fix the U.S. the economy; how exactly his tax reforms will work, for example, or what precisely he will do in his first 100 days to boost job creation. But the best thing about the Romney agenda is that by his own admission, he doesn’t need a plan. Just getting himself elected is the ticket to prosperity.

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~Oddball
 

idb

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To be fair, he has announced one policy to fix the economy...sack Big Bird and that damn Grouch in the rubbish bin......
 

ScienceRocks

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Lower taxes on the middle class
Close the loop holes on the upper
Lower the corporate tax
Get rid of useless regs
Adopt a all of the above energy policy
Allow the private sector to fail or succeed. Remember we're not suppose to be a marxist nation!
Cut waste.

You leftist fuckers don't have any clue of economics...So who are you to judge? lol It's the man in the private sector like Mitt romney that does!
 

editec

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I love that good old fallback

CLOSE LOOKHOLES.

Which ones?

Anybody know?

Of course not.
 

Oldguy

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Since the GOP is so closely aligned with global corporations and the fat-cats who run them, I've suspected all along that businesses were not hiring on purpose, effectively holding the economy hostage (and us) for a Republican administration.

I see no reason in that article to change my mind.
 

NYcarbineer

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The Rich didn't donate tens of millions of dollars to Romney's campaign to get their loopholes closed, or to see their taxes stay where they are,

which is Romney's latest promise, aka lie.

If Romney is elected president he will cut taxes and in the process GUARANTEE that we won't be able to get rid of our deficit,

even if the business cycle brings about better growth in the next few years.
 

zeke

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I love that good old fallback

CLOSE LOOKHOLES.

Which ones?

Anybody know?

Of course not.

The ones you leftist keep bitching about the rich getting around when we talk about the corperate tax.:eusa_shhh: Why they don't pay it anyways, you say. :eusa_boohoo:


Matt is that why millioniares are giving so much money to Mitt. Because they just love the country so much.

And they are perfectly satisified with their dedcutions going away and their tax obligation going up.

The ultra rich are aok with that? Is that what you claim?

Let me ask you this Matt. IF Mitt was elected, how does that make the Grover Norquits pledge go away? You know, the one where all the rethugs signed it to make sure taxes or deductions never go away.

Will Mitt kick Grovers ass on this?
 

squeeze berry

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Since the GOP is so closely aligned with global corporations and the fat-cats who run them, I've suspected all along that businesses were not hiring on purpose, effectively holding the economy hostage (and us) for a Republican administration.

I see no reason in that article to change my mind.

tin-foil-hat.jpg
 

Mac1958

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.

I'm not sure that I really need to say this, but on the other hand, perhaps I do:

Economic planning has to rely somewhat on dynamic analysis, i.e., looking beyond the numbers and anticipating behaviors created by new conditions. Economics is then, in some ways, an art as well as a science. I've noticed repeatedly that Democrats are far less likely to consider dynamic scoring, and I hope one day to find out why.

Neither candidate can lay claim to having the answers, as much as their little followers claim they can. We're in uncharted waters right now. But to completely ignore dynamic scoring is either economically naive or intellectually dishonest.

.
 

zeke

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Hey Mac, let me ask you this.

If the demand for product was growing rapidly, would business men/women that you deal with still claim that they were scared of all the uncertainties in the economy.

Or would they hire employees to meet production needs and just worry about filling orders.

Or would they let orders go unfilled because of all the "uncertainties" that would still exist?

You know my point is that increased sales fixes everything. Always has always will. If companies are selling product and making profit, it is amazing how all these other "issues" go away.

Isn't it? Or has that not been your experience?
 

Mac1958

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Hey Mac, let me ask you this.

If the demand for product was growing rapidly, would business men/women that you deal with still claim that they were scared of all the uncertainties in the economy.

Or would they hire employees to meet production needs and just worry about filling orders.

Or would they let orders go unfilled because of all the "uncertainties" that would still exist?

You know my point is that increased sales fixes everything. Always has always will. If companies are selling product and making profit, it is amazing how all these other "issues" go away.

Isn't it? Or has that not been your experience?


Well, current sales and business/economic uncertainty are two different things. So if a business owner is doing well now but thinks that future conditions are either cloudy or negative, their concerns persist. They're less likely to react to positive or short term conditions. Normally, increased sales ultimately lead to hiring, but if a business owner feels paralyzed by the uncertainty, he's less likely to hire new people even if sales are up. I have no doubt about that.

And all this is exacerbated by the fact that we're trying to dig out of an economic meltdown. Multiply everything by five.

Then there is some percentage (who knows) of business owners who buy into the "Obama is evil" schtick, and may well refuse to budge until Obama is gone. No way to know how many people like that are out there, but they're definitely not helping things. But such is the negative effect of partisan politics.

My guess/hope is that most uncertainties will fade after the election, regardless of who wins. While I hope the economic/taxation/regulation landscape will be favorable over the next 2-4 years, at least knowing what it WILL be is gonna be helpful.

I think.

.
 

JimH52

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Lower taxes on the middle class
Close the loop holes on the upper
Lower the corporate tax
Get rid of useless regs
Adopt a all of the above energy policy
Allow the private sector to fail or succeed. Remember we're not suppose to be a marxist nation!
Cut waste.

You leftist fuckers don't have any clue of economics...So who are you to judge? lol It's the man in the private sector like Mitt romney that does!

loopholes meaing....home mortgage deductions
 

kaz

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The Rich didn't donate tens of millions of dollars to Romney's campaign to get their loopholes closed, or to see their taxes stay where they are

So funny. You say things like this then don't grasp your hypocrisy over the unions and other liberal special interests that your party is beholden to.
 

Seawytch

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Sheldon Addleson is going to want a return on his investment. Oh sure, he said he wants a Romney presidency because Romney wouldn't go after him for his shady business practices in China, but he's going to want more than that for the scratch he's been putting into Romney.
 

Katzndogz

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Hey Mac, let me ask you this.

If the demand for product was growing rapidly, would business men/women that you deal with still claim that they were scared of all the uncertainties in the economy.

Or would they hire employees to meet production needs and just worry about filling orders.

Or would they let orders go unfilled because of all the "uncertainties" that would still exist?

You know my point is that increased sales fixes everything. Always has always will. If companies are selling product and making profit, it is amazing how all these other "issues" go away.

Isn't it? Or has that not been your experience?

It has not been my experience.

In my experience, uncertainty over fees, taxes and regulations will paralyze any business. It was the reason I closed my business. It was the reason the company my daughter in law closed their business. It's the reason why many businesses just leave the country and fill those orders from some other place.
 

emptystep

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First of all let me just say that was some of the finest writing I have ever read. Extremely well phrased. Thank you for posting it here.

(Next I will bash some righties.)
 

zeke

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Hey Mac, let me ask you this.

If the demand for product was growing rapidly, would business men/women that you deal with still claim that they were scared of all the uncertainties in the economy.

Or would they hire employees to meet production needs and just worry about filling orders.

Or would they let orders go unfilled because of all the "uncertainties" that would still exist?

You know my point is that increased sales fixes everything. Always has always will. If companies are selling product and making profit, it is amazing how all these other "issues" go away.

Isn't it? Or has that not been your experience?

It has not been my experience.


In my experience, uncertainty over fees, taxes and regulations will paralyze any business. It was the reason I closed my business. It was the reason the company my daughter in law closed their business. It's the reason why many businesses just leave the country and fill those orders from some other place.


Why didn't you do that? I mean leave the country.

So sales were up and you shut er down becaue of uncertainty? Maybe you shouldn't have been running a business. Or your daughter in law. Cause you got to be dumb to close a growing business and claim it was because you didn't know how to predict the future.

btw, I am not surprised you had to close your business. And I think I know the real reason.
 

emptystep

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.

I'm not sure that I really need to say this, but on the other hand, perhaps I do:

Economic planning has to rely somewhat on dynamic analysis, i.e., looking beyond the numbers and anticipating behaviors created by new conditions. Economics is then, in some ways, an art as well as a science. I've noticed repeatedly that Democrats are far less likely to consider dynamic scoring, and I hope one day to find out why.

Neither candidate can lay claim to having the answers, as much as their little followers claim they can. We're in uncharted waters right now. But to completely ignore dynamic scoring is either economically naive or intellectually dishonest.

.

You bring up a point I would like to expound upon. (Maybe I should switch to decaf.)

Dynamic scoring should be an extension of static scoring, in which there is a model to begin with. Obama used dynamic scoring when first elected president when he said how much progress he would make in four years. I would say his static model was extremely accurate although the dynamic part, republicans in congress actually caring about the country, was not. The issue with Romney's 'dynamic scoring' is that it is all dynamic and there is no underlying model at all. He has no static model, just says, everyone will feel good and that is enough, which is pretty much exactly what the OP says.
 

RDD_1210

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Hey Mac, let me ask you this.

If the demand for product was growing rapidly, would business men/women that you deal with still claim that they were scared of all the uncertainties in the economy.

Or would they hire employees to meet production needs and just worry about filling orders.

Or would they let orders go unfilled because of all the "uncertainties" that would still exist?

You know my point is that increased sales fixes everything. Always has always will. If companies are selling product and making profit, it is amazing how all these other "issues" go away.

Isn't it? Or has that not been your experience?

It has not been my experience.

In my experience, uncertainty over fees, taxes and regulations will paralyze any business. It was the reason I closed my business. It was the reason the company my daughter in law closed their business. It's the reason why many businesses just leave the country and fill those orders from some other place.

LOL, the biggest load of horseshit I've heard all day. Your business closed because you obviously ran a shitty business not because of some mysterious regulations. LOL.
 
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