Romney’s New GrooveRomney’s New Groove

Presentation by: Richard Ewane, Justin Florek, MaryJo Guthrie, Austin Moyer

IBEC 203-01: Macroeconomics

He Touts Expertise as Focus Shifts to Economy

Article By: Elizabeth Holmes

• Fed lowers interest rate twice in the last two weeks

• Housing market falling

• Stock Market falling

• Recession?

Class vote: which Republican candidate would you vote for?

Economic Uncertainty makes 2008 Economic Uncertainty makes 2008 Nominations HazyNominations Hazy

Hear it from the man himself!Hear it from the man himself!

Individuals:Individuals: – reduce the lowest income tax bracket, reduce the lowest income tax bracket,

– permanently eliminate payroll taxes on seniorspermanently eliminate payroll taxes on seniors

– make middle-class savings tax free. make middle-class savings tax free.

Businesses:Businesses: – institute immediate 100% expensing of equipment for two institute immediate 100% expensing of equipment for two

yearsyears

– permanently reduce the corporate tax rate. permanently reduce the corporate tax rate.

Romney’s Economic PlanRomney’s Economic Plan

Homeowners:Homeowners: – reform and expand Federal Housing Administration (FHA) reform and expand Federal Housing Administration (FHA)

loan portfolio limits to allow larger loans to homeowners. loan portfolio limits to allow larger loans to homeowners.

In Addition:In Addition:

– Make Bush Tax Cuts PermanentMake Bush Tax Cuts Permanent

– Kill Death TaxKill Death Tax

– Oppose any increase in social security taxesOppose any increase in social security taxes

John McCain’s PlanJohn McCain’s Plan

– Cut The Corporate Tax Rate From 35% To Cut The Corporate Tax Rate From 35% To 25% 25%

– Allow First-Year Deduction, Or “Expensing”, Of Allow First-Year Deduction, Or “Expensing”, Of Equipment And Technology Investments. Equipment And Technology Investments.

– Establish Permanent Tax Credit Equal To 10 Establish Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D.Percent Of Wages Spent On R&D.

Romney’s Opposition: McCainRomney’s Opposition: McCain

John McCain’s PlanJohn McCain’s Plan

– Cut taxes for Middle class familiesCut taxes for Middle class families

– Pro-Growth Tax Policy Pro-Growth Tax Policy

– Pro-innovation Tax CutsPro-innovation Tax Cuts

His reaction to RomneyHis reaction to Romney

Romney’s Opposition: McCainRomney’s Opposition: McCain

Mike Huckabee’s PlanMike Huckabee’s Plan

–5 F’s Stimulus Package: Family, Fed., Fight, 5 F’s Stimulus Package: Family, Fed., Fight, Fuel, FairFuel, Fair

–Family: reduce healthcare and education Family: reduce healthcare and education costscosts

–Fed. Reserve: low inflation, pro-growthFed. Reserve: low inflation, pro-growth

Romney’s Opposition: HuckabeeRomney’s Opposition: Huckabee

Mike Huckabee’s PlanMike Huckabee’s Plan

–Fight: Increase defense spending, train more Fight: Increase defense spending, train more troops, fence US/Mexican bordertroops, fence US/Mexican border

–Fuel: End foreign dependenceFuel: End foreign dependence

–Fair: Preserve current tax cuts and expandFair: Preserve current tax cuts and expand

Romney’s Opposition: HuckabeeRomney’s Opposition: Huckabee

Romney’s experience gives Romney’s experience gives him a great advantagehim a great advantage

Economy a huge issue, but Economy a huge issue, but not the only concernnot the only concern

Public Opinion: Two SidesPublic Opinion: Two Sides

Romney has had a focus on the economy from Romney has had a focus on the economy from the startthe start

He’s a seasoned business who voters can trust He’s a seasoned business who voters can trust with the economywith the economy

His experience as a governor will help him with His experience as a governor will help him with the other issuesthe other issues

He’s got an edge over his competitionHe’s got an edge over his competition

ConclusionConclusion

What do you think now?What do you think now?

Romney’s New GrooveRomney’s New GrooveBy Elizabeth HolmesBy Elizabeth Holmes

Wall Street Journal, January 26th, 2006, Page A4Wall Street Journal, January 26th, 2006, Page A4

Mitt Romney’s Official WebsiteMitt Romney’s Official Websitehttp://www.mittromney.com/

John McCain’s Official WebsiteJohn McCain’s Official Websitehttp://www.johnmccain.com/

The Swamp: Political BlogThe Swamp: Political Bloghttp://www.swamppolitics.com/news/politics/blog/http://www.swamppolitics.com/news/politics/blog/

SourcesSources

Questions?Questions?