- Strong quake hits Japan, triggering tsunami
- Sniper heaven: Pentagon’s self-guided bullets leave enemies nowhere to hide
- Violent gang taking advantage of immigration crisis, using border as recruiting hub
- Medicaid enrollment continues to soar under Obamacare, administration says
- Michelle Obama to Latinos: ‘We cannot afford to wait on Congress’ for immigration
- White House urges GOP to act ‘urgently’ on $3.7 billion request for illegal immigrants
- Politicians, criminals using ‘right-to-be-forgotten’ law EU courts forced upon Google
- Combat fatigue: elite special forces troops are ‘fraying,’ Gen. Joseph Votel warns
- German foreign minister to meet Kerry to discuss spying claims
- Florida police spokesman tells citizens: ‘Get yourself some firearms’
Romney pitches Mich. voters with economic plan
Question of the Day
Mitt Romney returned home Friday to give Michigan voters a glimpse of his plans to get the nation’s fiscal house in order and to strengthen the economy, as he worked to court voters in one of the states’ that was hit hardest by the economic recession.
Speaking to the Detroit Economic Club, the former Massachusetts governor pledged to support a mix of tax cuts for individuals and corporations, as well as changes to the Social Security and Medicare and the elimination of the so-called “death tax.”
“I want to restore America’s promise. That means more jobs, less debt, smaller government,” Mr. Romney said. “In the coming campaign, I am offering more than just a change in policy. I am offering a dramatic change in perspective and philosophy.”
He told the crowd he represented the Republican Party’s only chance of defeating President Obama in the 2012 election, arguing that “I will have the credibility on the economy” that his rivals in the GOP presidential race lack.
The address was another opportunity for Mr. Romney to woo voters ahead of the primary on Tuesday, where he hopes to fend off a stronger-than-expected challenge from former Pennsylvania Sen. Rick Santorum, who has emerged has his biggest foe in the nomination contest.
“Detroit shouldn’t just be the Motor City of America, it’s got to be the Motor City of the entire world,” Mr. Romney said, though he steered clear of repeating his opposition to the 2008-2009 auto bailouts, which might not hurt him in the GOP primary, but could give him a headache in a general election.
Steven Rattner, President Obama’s former “car czar,” wrote an op-ed for the New York Times Friday criticizing Mr. Romney for suggesting the industry could have been saved through a managed bankruptcy without tens of billions of dollars in federal aid.
“Without government financing — initiated by President George W. Bush in December 2008 — the two companies would not have been able to pursue Chapter 11 reorganization,” Mr. Rattner wrote. “They would have been forced to cease production, close their doors and lay off virtually all workers once their coffers ran dry. Those shutdowns would have reverberated through the entire auto sector, causing innumerable suppliers almost immediately to stop operating, too.”
Those polls, though, don’t reflect the GOP presidential debate in Mesa, Ariz. on Wednesday, where Mr. Romney was thought to have gotten the better of Mr. Santorum in a number of exchanges over issues. He knocked Mr. Santorum for supporting pork-barrel projects while in Congress and for backing then-Sen. Arlen Specter in the 2004 election over a conservative Republican primary challenger in Pennsylvania.
Mr. Romney first released his “Restore America’s Promise” tax plan on Wednesday.
In it, he calls for an across-the-board tax cut that would, among other things, reduce the top individual tax rate from 35 to 28 percent and the corporate rate from 35 percent to 25 percent. He put out the tax plan the same day that President Obama’s rolled out a business tax plan of his own that would reduce the corporate tax rate from 35 percent to 28 percent and eliminate many tax loopholes and credits with a net increase in federal revenue.
Mr. Romney vows to end the repatriation tax on American companies who do business overseas, to abolish the estate tax and eliminate capital gains and dividends taxes entirely for those with an annual income below $200,000.
“These changes will not add to the deficit. Stronger economic growth, spending cuts and base-broadening will offset the reductions,” he said on Friday.
He also assured the audience that middle-income Americans will continue to enjoy the mortgage interest and charitable givings tax deductions. And to deal with the $62 trillion in “unfunded promises in our entitlement programs,” he would push to raise the eligibility age for Social Security and slow the growth in benefits for higher-income retirees.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
- Chris Christie leading N.H. GOP presidential field; Mitt Romney lingers large
- Muslims give Obama high marks over first half of 2014
- Big 2014 for incumbents so far
- Texas Gov. Rick Perry: Obama showed up after Hurricane Sandy, why not the Texas border?
- Jeff Flake: House should have passed Senate immigration bill
Latest Blog Entries
TWT Video Picks
By Rabbi Shmuley Boteach
- Obama calls GOP lawsuit over executive overreach a 'political stunt'
- Pentagon's self-guided bullets leave enemies nowhere to hide
- PRUDEN: 'Dirty Harry' Reids increasing eccentricity
- Michelle Obama to Latinos: 'We cannot afford to wait on Congress' for immigration
- Florida police spokesman tells citizens: 'Get yourself some firearms'
- Veteran with concealed weapon turns tables on Chicago gunman
- Bush fixed bowling lanes that Obama wants to renovate
- Armed militia sets up Texas command center to 'fight for national sovereignty'
- Bloomberg: Pro-gun towns must lack roads
- Google Glass-equipped rifles can fire around corners: It's 'mind-blowing when you actually do it'
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq
World Cup's sexiest WAGs