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Declared 2012 Republican Presidential Candidate
Former Governor of Massachusetts
Mitt Romney
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Romney position on the Budget
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• Mitt Romney believes in the principle of reaganomics wherein you cut taxes which is believed to bring in economic growth. According to him the budget should cut taxes on people earning incomes less than $200,000 a year and also cut payroll taxes on people aged sixty five years or older.
• He supports setting up a national catastrophic fund to ensure that people are entitled to home owners insurance in the event of some natural disasters like hurricanes, tornadoes etc.
• He brought forward an economic stimulus package with a price tag of $233 billion which is aimed at generating long term growth incentives. This can be achieved by expensing capital expenditures in the next two years and lowering corporate tax rate so that businesses will thrive and generate revenue.
• He perpetrates the need for becoming energy independent by making investments in alternative energy sources, reduce gas prices and reduce taxes on middle income Americans.
• Mitt Romney suggests bringing a cut in the 342 odd different economic programs. Of course protecting the nation's defense and military personnel is important therefore allocation of funds for their welfare is important.
• He believes that he can bring in savings worth $300 billion dollars in 10 years by capping non defense discretionary spending at inflation minus 1% and will veto any budget that exceeds that cap.
• He wants to be known as the job senator by convincing the government to cut deficits and raise American's savings rate by making more capital available for companies for investment and thereby increase employment opportunities.
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