Mitt told David Gregory that he would keep selected parts of ObamaCare in place, which is bound to infuriate conservative voters and Republicans in Congress. He also hinted that he’s willing to raising taxes on the super-wealthy by eliminating unnamed loopholes. That’s more sacrilege.Geez, is Mitt running scared? Or has the “etch-a-sketch” finally made its way into Romney headquarters.
A different take: Romney is being honest with the American people. The GOP pitch about lowering taxes on “job creators” to revive the economy is a canard. Businessman Romney knows it.
Walter Cadette, retired economist at JPMorgan, says the notion that rich people hire workers based on tax rates is “silly.”
In a Sept. 5 opinion piece posted on Thestreet.com, Cadette noted that hiring is based on expectations of pre-tax profits. He wrote:
If I can make $5,000 in a year, say, by paying a new hire $50,000, I will hire him. And I will still hire him if the $5,000 profit is taxed at a 40% rate, say, rather than at a 20% rate. In the one case, I will pocket $3,000; in the other $4,000. Either way, I win. I will follow through in the hiring decision at either tax rate whenever a prospective new hire is likely to contribute more to the revenue of the firm than he is paid.
Cadette faults “head-nodding” journalists for accepting the job creator nonsense, which flows ad nauseam from GOP politicos.
Perhaps, Mitt has seen the light. Romney is said to be a moderate at heart. He should drop spouting GOP lines and be true to himself.
Al Gore is an unlikely inspiration. Gore’s wooden presidential campaign run caught fire only after he decided to go rogue. The vice president pulled off a presidential win in 2000, but was denied a rightful victory from the combination of GOP shenanigans in Florida and his own cave-in.
There’s still time for Romney.
A word of advice: keep talking to people like Gregory, rather than to GOP echo chamber Fox News.
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