If the rhetoric of Mitt
Romney sounds familiar, it should. If Romney’s promises paint a familiar
picture, they should. They majority of us in the 40+ age groups have
heard these notes and have seen this sketch before. Romney’s economic policy is
Reaganism revisited. Think about it:
In 1980,
Ronald Reagan stated his economic plan to the American people. In this plan he
promised to do five things – First, he promised to cut taxes on capital gains
and corporations. Second, he promised to “Get government off our backs” by
deregulating all policies that interference with economic growth and corporate
expansion. Third, he promised to reduce the reliance of “some Americans” on
government entitlements. He reminded us that we were “a nation of rugged
individualism” in which individual success in life was earned through hard work
and perseverance – not through government handouts. Fourth, he promised to
slow/reduce the growth of government, which was the main cause of run-away
government spending (in his view). And fifth, he promised to increase our
defense budget for the purpose of modernizing the military, strengthening our
military presence abroad, and developing new weapon systems (like his “Star
Wars” program).
Romney’s economic plan is
a carbon copy of Reagan’s blueprint. It is exact in every detail, including
military spending.
This plan, which is very attractive to the
richest Americans and corporate America, produces very good and very bad
results. I will discuss both of these in tomorrow’s blog.
by
James A. Porter
