Choice between two road maps
This article first appeared in The Straits Times on April 28, 2012.
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American voters consider the economy to be their top concern in this year’s presidential election, and are looking for good answers to problems like high unemployment and the massive fiscal deficit. -- PHOTO: AFP
Mitt Romney's pitch: Believe in America
THE buzzword in Mr Romney’s economic plan is “cut”, as in, cut taxes, cut regulations and cut government spending. His main argument is that the government and its onerous policies must get out of the way for a faster economic recovery.
MAIN ECONOMIC PRESCRIPTIONS
Taxes
Extend the Bush-era tax cuts scheduled to expire next year, cut individual income tax rates by 20 per cent, and repeal the alternative minimum tax. He would also slash the corporate income tax rate from 35 per cent to 25 per cent.
Government spending
