Even though Mitt Romney calls himself a "data" man, he wants
to put Churchill’s bust back in the Oval Office. It makes perfect sense.
Churchill was a "word" man, and words aren’t as valued as
numbers amongst American conservatives these days. But, above all, Churchill
was courageous, and courage is the sine
qua non of modern Republican politicians. They see it as their duty to
expose the sly timidity of that snob in the White House and defend America
against a whole world of enemies.
Out of power, this is a hard to calling to convey. They can’t bomb
Iran or order the Seals to kill. They can’t over-reach their non-existent legislative
powers.
As a presidential candidate, however, Romney can appear
nervy. He can lace his speeches and policies with bold and belligerent words.
He can be alarmed about where the world is heading and hint at courageous
responses—and pick a running mate who has talked like that since he was a boy.
Romney has done all those things and, so, has earned the endorsement
of 400 conservative economists.
They say he’s “returning” America to its tradition of economic freedom.
They weren’t identified formally as Republicans. However,
their statement of support is mighty light on Romney’s economics and very
optimistic about his courage. Any real "data" men on the list must have had
their hands held when they signed it.
For instance, this is how they describe Romney’s biggest promise:
“Governor Romney would reduce
marginal tax rates on business and wage incomes and broaden the tax base to increase investment, jobs, and living
standards.”
Romney’s campaign promise and Paul Ryan’s four-year-old
fiscal plan dramatically cut marginal tax rates. They are as vivid as they are
enticing: a high-end personal tax rate of only 25% in Ryan’s plan and a 20% tax
cut for everyone in Romney’s plan. They say they’ll make their gigantic tax
cuts “revenue neutral” by closing loopholes.
In other words, another $trillion dollars of tax cuts will
be financed, in large part, by eliminating hundreds of $billions of dollars of
popular tax loopholes—something 400 economists polled randomly would admire.
Both sides of this pro-growth, tax-reform equation involve big
numbers beloved by "data" men. However, on the difficult side—the loopholes
side—Romney is all words.
On hundreds of occasions, both Romney and Ryan have referred
to “special interest loopholes” and the desirability of “simplifying” the tax
code—without ever being specific. (Andrew Sullivan's blog
points out how many significant tax loopholes there are to be excited and
specific about.)
Romney has the courage to be specific about what he could do
to Iran, but can’t whisper one menacing word about the tax deductions American
families get for their home mortgage payments and family health insurance
premiums.
Whether smart politics or not, it’s lopsided economics.
Romney’s 400 economists have, in effect—if not in the words they’ve used—lent
their credibility to yet another campaign of massive tax cuts, even as the
country’s structural deficit deteriorates.
Every president works like a devil to keep his promises. On
the specific ones, presidents have a popular mandate to wield against naysayers.
On the vague ones, they can fail with grace.
Romney, with an assist from his "conservative" economists,
is setting himself up to enact another reckless tax cut and just pick at the
margins of serious tax reform.
No comments:
Post a Comment