What Governor Romney is proposing is an across-the-board cut in marginal tax rates for households, every household in America by 20 percent. And we'll have to broaden the base to pay for that. Also, a very deep cut in the corporate rate.
From Glenn Hubbard
I can't imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a recipe for economic growth.
I think Governor Romney has a two-part budget plan that very much levels with voters far more so than any candidate in my lifetime.
The real issue for the public is to figure out which narrative do we want. We can have a bigger government, if that's the public's choice. It'll just require higher taxes on every American. Do you want that, or do you want smaller government, smaller taxes?
I don't expect the U.S. and China to get into a trade war simply because I think there are good people on both sides who realize that that's not in either economy's interest.
I can't give political advice to politicians.
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