From AFP:
Republican US presidential hopeful Mitt Romney unveils his economic plan Tuesday, focusing on lower taxes, less regulation, scrapping the Obama health plan and ending trade “surrender” to countries such as China.
The former front-runner in his party, Romney said President Barack Obama “has had his turn at fixing the American economy” and has failed.
“For my part, I believe America can do better,” Romney writes in the USA Today newspaper ahead of a speech later in the day on his economic plan.
“I have spent most of my career in the private sector starting new businesses and turning around ailing ones. Unlike career politicians who’ve never met a payroll, I know why jobs come and go.”
Romney said he has “59 specific proposals — including 10 concrete actions” he would undertake on his first day in office to turn around the economy.
“Each proposal is rooted in the conservative premise that government itself cannot create jobs. At best, government can provide a framework in which economic growth can occur. All too often, however, government gets in the way. The past three years of unparalleled government expansion have retaught that lesson all too well.”
Romney, who had been the early frontrunner but now trails Republican Texas Governor Rick Perry in presidential polls, said that tax on income, saving and investment “must be kept low” and that “taxes on interest, dividends and capital gains for middle-income taxpayers should be eliminated.”
He said the US corporate tax rate “is among the world’s highest” and leaves US firms “at a competitive disadvantage and induces them to park their profits abroad, benefiting the rest of the world at our expense.
“Ultimately, I will press for a total overhaul of our overly complex and inefficient system of taxation.”
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