Romney policy adviser Glenn Hubbard stressed the differences between Mitt Romney’s tax plan and Rick Santorum’s today, suggesting that Romney might attack Santorum on the issue in tonight’s debate.
“This also is a contrast to the plan that Sen. Santorum has advanced,” Hubbard said of Romney’s tax plan in a conference call with reporters this afternoon, “which would significantly increase federal deficits … and conduct essentially an industrial policy by favoring one industry over another, whereas Gov. Romney wants to have low marginal tax rates across the board for any business activity Americans want to participate in.”
The campaign offered little details about how the revenue losses from the tax cuts would be offset, although in reference to tax cuts on the individual side, Hubbard said the goal was to “accomplish the base broadening in such a way that it is disproportionately borne by upper income households.” The tax cuts proposed, the campaign says, will ultimately be revenue neutral.
Oh good grief, could you be more blatant in your protective mothering of Santorum Katrina.
Shouldn't your title read 'Meanie Romney is going to attack poor Saint Santorum'.
BTW all your diminshing language "The campaign offered little details" in all your Romney posts are very noticable.
Anyone wanting real knowledge and a fair assessment about Romney's tax plan, go here to
"Romney 2.0 goes the full Reagan. The plan’s centerpiece: An across-the-board, tax-rate cut of 20 percent, returning the top rate to 28 percent, where it was when Reagan left office in January 1989. In addition, the tax rate for people in the lowest income bracket would drop to 8 percent from 10 percent, and to 20 percent from 25 percent for those Americans in the middle, according to the Wall Street Journal."
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Reply to this commentLinkReport AbuseCan people stop accusing Katrina of being bias? It's so stupid. During the last five months she's been accused of carry water for every single candidate. If you don't like the headline quit reading. Katrina didn't suddenly abandon Romney for Santorum today.
It's just shallow.
Reply to this commentLinkReport AbuseAre you freaking serious?!! "protective mothering of Santorum"?
The Romney campaign has offered little details about how it will address Social Security and Medicare. And Santurum's phony tax plan is worth being attacked.
But to get your shorts in a twist about some phantom defense of Santorum is just rich.
Reply to this commentLinkReport AbuseJames Pethokoukis = informed, intelligent economic commentary
You = no credibility or authority on economic commentary
BTW, keep your thoughts/statementss off my shorts
Reply to this commentLinkReport AbuseLet me translate that....
James Pethokoukis said nice things about Romney, therefore he's "informed, intelligent".
I didn't bow at Romney's feet, therefore I have "no credibility or authority on economic commentary".
Geeze, relax, sheryl. It's all okay. Don't get your shorts in such a twist.
Reply to this commentLinkReport AbuseMeant to include the best quote:
New Romney tax plan goes the full Reagan
By James Pethokoukis
Yet take a step back and consider the following: Romney wants to a) slash income tax rates by 20 percent, b) lower corporate tax rates by 30 percent while slashing corporate welfare, c) reform Social Security by gradually raising the retirement age and indexing benefit growth for higher-income retirees to inflation instead of wages, d) create a premium-support Medicare system for younger workers, and e) cut government spending by $500 billion during his first term.
If Romney does become the Republican nominee, he would certainly be running on the boldest GOP agenda since Reagan ’80, maybe ever.
Reply to this commentLinkReport AbuseWhile I am no fan of Romney, he is right in this. Playing favorites is just as wrong for the Right as it is for the Left. The government shouldn't be picking winners. Are US manufacturers at a disadvantage? Yes, let's lower the corporate tax for all companies, and for US manufacturers, let's eliminate many of the onerous regulations that make doing business in the US so unappealing.
Reply to this commentLinkReport AbuseApples and Oranges. The zero percent tax on manufacturing is for the corporate tax. The reduction in the top marginal rate involves personal income tax rates.
It really isn't an industrial policy. We already have an industrial policy, and it is in the tax code. Zeroing it out for manufacturing eliminates the tinkering of labor and green incentives. Honestly, the EPA and other agencies hit manufacturing harder than other industries. That sector deserves a break.
Reply to this commentLinkReport AbuseNot favoring some over others?
LOL, this is rich coming from Romney who just proposed an OWS inspired tax reform plan.
Reply to this commentLinkReport AbuseI thought the party line is that too many people "pay no federal taxes". Romney's going to ensure that even fewer people will have a tax liability at the end of the year. And a massive explosion in the deficit.
Reply to this commentLinkReport AbuseIf you really want to help manufacturers and other businesses then muzzle the EPA and OSHA. Another step would have a national Right to Work law. When a manufacturer has to comply with outrageous government regulations and union thug work rules they are hamstrung. I have never forgotten in the 60's in an industrial plant I worked in during summer breaks, if a light bulb burned out it literally was required that 3 (that is THREE) electricians had to be there to change it. One guy to carry the ladder, an apprentice to apparently learn how to change the bulb and the electrician who either changed the bulb or supervised the apprentice during his "hands on" training. Ridiculous.
Oh--leave Katrina alone--she is reporting, nothing else.
Reply to this commentLinkReport AbuseRomney's critique of Santorum's manufacturing tax proposal is pretty close to the mark. Unfortunately, Romney's own corporate tax proposals are virtually indistiguishable from the ones coming from Obama, and Romney's income tax proposals would -- by his campaign's own admission -- continue to use the tax code as a hammer to punish success and a means to redistribute income.
Reply to this commentLinkReport AbuseGingrich, by contrast, proposes a flat 15-percent rate. That is real change, real reform and a real path to economic growth. It is also a proposal that can rally the troops and create some genuine enthusiasm in the fall. Maybe it's time Republican voters stopped worrying about ephemeral and unproven things like "electability" and started focusing once again on philosopy and ideas. We already have one party that is about nothing but political calculation. We don't need another one.
Romney wants to keep the same number of different tax brackets that we have now. Santorum wants to reduce them to two. Romney wants to lower the top personal income tax rate to 28 percent. Santorum wants to lower it to . . . 28 percent. Romney wants to lower the corporate tax rate for all companies to 25 percent. Santorum wants to lower it to . . . 17.5 percent. So despite Mr. Hubbard's attempt to create an impression to the contrary, Santorum wants to have even lower marginal tax rates across the board for any business activity Americans want to participate in than Romney does, even if manufacturers end up being treated the same. Exactly how is this going to be an effective line of attack for Romney?
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