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Wednesday, September 26, 2007

Bottom line look at Romney's ability to help you make money...

There is an interesting article on about Romney's economic future on your pocketbook:

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< Bottom Line 2008
Every Monday in the coming weeks, we will be taking an objective look at each of the 2008 presidential candidates. We only care about how the candidates will affect your ability to make money. We look past all of the polarizing issues that the nation will never agree on and get right down to where you’ll feel it most. We call it
Bottom Line 2008.
Mitt Romney
I guarantee that Mitt Romney is richer than your dad. He’s knows how to make money and he’s got the resume and the bankroll to prove it. His estimated net worth is estimated to be as much as a quarter of a billion dollars; he has had an illustrious business career.
He is the most educated of the candidates having received degrees from both Harvard Business School and Harvard Law. He is the only MBA among leading candidates.

Healthcare – Romney Has Taken Econ 110.
Romney’s healthcare plan is in response to rising premiums, increasing numbers of uninsured, and government overspending. He believes that he can fix these problems by deregulating and reforming the insurance market. Romney’s plan will feature:
Enhanced Health Savings Accounts (HSA)
Portability of health insurance for employer provided insurance products
Required Health Insurance Coverage for everyone(catastrophic coverage)
Federal Spending on free-care will being redirected to assist low income families to purchase private health insurance
Bottom line: You’ll have more money in your pocket if health insurance costs are reduced as long as it isn’t government subsidized. Romney’s plan reduces government intervention, and allows for the invisible hand to work its magic. If you believe Adam Smith, you’d buy Romney’s plan.

Iraq - Romney Likes Guns.
Romney is for a stronger military. He “proposes that we sharply increase our investment in National Defense.” Romney had been critical of President Clinton for reducing the national defense. He will increase spending in this area.
Romney supports President Bush’s effort to stabilize the population of Iraq, and sees Iran as an imminent threat.
Bottom Line: Expect a similar response from Romney in Iraq as we’ve observed in Bush. Expect a government that spends less on social programs and more on tanks.

Taxation – Drop it Like it’s Hot.
Romney is for simplifying the tax code and lowering taxes. He is for single taxation, meaning that individuals should be taxed once on their earnings. He would abolish Dividend, Interest, and Capital Gains taxation for individuals investing their earnings, and the death tax.
Romney is also for reducing marginal tax rates for individuals and corporations in an effort to become more competitive in the world market. He is also for making the Bush tax cuts permanent.
Bottom Line: Romney will make it a lot easier to save your money. Every investment becomes a Roth IRA without limitation. You can expect large corporations to pay more dividends to shareholders. The Romney Tax Proposal that will make you richer than your dad.

Social Security – Romney Shrugs
Romney hasn’t figured out a solution to the Social Security issue. All he has said is that they need restructuring, and that both parties need to come together by, “sitting down, quietly, behind closed doors and having a full and complete discussion of various ways to bring the costs down and to keep it from getting out of control.”
Bottom Line: That’s a pretty safe answer. Who knows what would happen to Social Security and Medicare under Romney. We want answers Romney.

Government Spending – Romney Won’t Take Lip.
Romney wants to reduce the size of government by improving efficiency and cutting back the scale of the government. He plans to do this with his classic trim-the-fat style that he honed in private equity investing and the 2002 Winter Olympics. He also plans to cap domestic discretionary spending at inflation less one-percent, and he will enforce the budget through vetoes and a stern scowl.
Bottom Line: Expect Romney to send legislators back to their rooms without supper if they try to push the limits of their budget. Other candidates are promising reform and efficiency in government, but you know Romney can actually pull this off!

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< As a side note, in the article, the author asks for answers on social security. I think Mitt has been giving answers, but not apparently what the author wants to hear. Here is a video of Mitt on Social Security. I think he is clear that social security reform can only take place for future work generations, and that minor changes in the taxation policy will be needed to ensure S.S. for the next century. He is also clear that S.S. benefits for seniors, and near-seniors will not go down under his administration. (I am assuming that "near-seniors" are people ages 50 - 62. I would welcome any suggestion if it is otherwise)

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