"I Have A Plan!"

“I have a plan. My plan calls for action,” Mr. Romney said on the economy, before rattling off a handful of his policy initiatives.  He further went on to say, “I put out 59 steps on how I’d get the economy going and I don’t think I’ve seen any from the president that show what he’s planning on doing.” Romney reasserted his commitment to expanding energy resources, in part by approving the Keystone Pipeline. He vowed to cut taxes and expand trade agreements, particularly with Latin America. He said those moves, in combination with spending cuts that accrue over time, would bring unemployment down to 6% by the end of his first term.  Anyone bothering to go to the Romney web site and reading the “59 steps” would soon discover that everything boils down to cutting taxes for individuals and corporations and removing regulations.  Apparently Romney has a serious blindness to history as lowering tax rates and reducing regulations are exactly what resulted in the recession and loss of jobs.  His comments that Obama has failed to offer any solutions completely overlooks the legislation proposed by Obama that has been blocked from even coming to a vote by the filibusters on the part of Republicans in the Senate.  Understandably, if over the past twelve years your AGI exceeded $200,000, the Romney plan worked very well for you.  Unfortunately for Americans, only 10% of Americans were in that income bracket and for the rest of Americans, the plan offered by Romney will result in the same economic stagnation they have experienced over the past twelve years.  It is also unfortunate that many of these people have been led to believe the lies and misstatements from the right and the Romney campaign and assume that reverting to the supply side economic policies of Reagan/Bush will have different results than when first implemented.  Virtually every independent economist has predicted that the Romney/Supply-side economic policies will only worsen things and probably put the country back into recession for everyone EXCEPT the top 10%.  That is why one can see the top 1% contributing vast sums of money to conservative PACs because from their perspective, investing in ”Romneynomics” is a guaranteed investment based upon past history.  Someone giving $10 million dollars to a political campaign will save twice that amount if the Romney tax policies are in place.  The Walton family of WalMart fame has invested $100 million dollars to put an end to inheritance taxes and if implemented the elimination of inheritance tax will save the Walton family an estimated $35 billion dollars, providing far more family income than importing tee shirts from China.  Romneynomics is about Romney and those in the income bracket enjoyed by Romney.  For anyone else, it is a repeat the worst economic period since the Great Depression.