Geoffrey Willis Author | His plan seeks to reduce taxes, spiendng, regulation, and government programs. It seeks to increase trade, energy production, human capital, and labor flexibility. Taxes individual:•Make permanent, across-the-board 20 percent cut in marginal rates •Maintain current tax rates on interest, dividends, and capital gains •Eliminate taxes for taxpayers with AGI below $200,000 on interest, dividends, and capital gains •Eliminate the Death Tax •Repeal the Alternative Minimum Tax (AMT)corporate•Cut the corporate rate to 25 percent •Strengthen and make permanent the R D tax credit •Switch to a territorial tax system •Repeal the corporate Alternative Minimum Tax (AMT)Regulatory Reform•Repeal Obamacare •Repeal Dodd-Frank and replace with streamlined, modern regulatory framework •Amend Sarbanes-Oxley to relieve mid-size companies from onerous requirements •Initiate review and elimination of all Obama-era regulations that unduly burden the economy•Ensure that environmental laws properly account for cost in regulatory process •Provide multi-year lead times before companies must come into compliance with onerous new environmental regulations•Impose a regulatory cap of zero dollars on all federal agencies •Require congressional approval of all new “major” regulations •Reform legal liability system to prevent spurious litigationTrade•Reinstate the president’s Trade Promotion Authority •Complete negotiations for the Trans-Pacific Partnership •Pursue new trade agreements with nations committed to free enterprise and open markets •Create the Reagan Economic Zone•Increase CBP resources to prevent the illegal entry of goods into our market •Increase USTR resources to pursue and support litigation against unfair trade practices •Use unilateral and multilateral punitive measures to deter unfair Chinese practices •Designate China a currency manipulator and impose countervailing duties •Discontinue U.S. government procurement from China until China commits to GPALabor Reform•Appoint to the NLRB experienced individuals with respect for the rule of law •Amend NLRA to explicitly protect the right of business owners to allocate their capital as they see fit •Reverse executive orders issued by President Obama that tilt the playing field toward organized labor•Amend NLRA to guarantee the secret ballot in every union certification election •Amend NLRA to guarantee that all pre-election campaigns last at least one month •Support states in pursuing Right-to-Work laws•Prohibit the use for political purposes of funds automatically deducted from worker paychecksHuman Capital•Eliminate redundancy in federal retraining programs by consolidating programs and funding streams, centering as much activity as possible in a single agency •Give states authority to manage retraining programs by block granting federal funds •Facilitate the creation of Personal Reemployment Accounts •Encourage greater private sector involvement in retraining programs•Raise visa caps for highly skilled workers •Grant permanent residency to eligible graduates with advanced degrees in math, science, and engineeringSpending/Deficit•Reduced from 24.3 percent last year; in line with the historical trend between 18 and 20 percent •Close to the tax revenue generated by the economy when healthy •Requires spiendng cuts of approximately $500 billion per year in 2016 assuming robust economic recovery with 4% annual growth, and reversal of irresponsible Obama-era defense cuts•Send Congress a bill on Day One that cuts non-security discretionary spiendng by 5 percent across the board •Pass the House Republican Budget proposal, rolling back President Obama’s government expansion by capping non-security discretionary spiendng below 2008 levelsSmaller Government1.The Federal Government Should Stop Doing Things The American People Can’t Afford, For Instance: •Repeal Obamacare — Savings: $95 Billion. President Obama’s costly takeover of the health care system imposes an enormous and unaffordable obligation on the federal government while intervening in a matter that should be left to the states. Mitt will begin his efforts to repeal this legislation on Day One. •Privatize Amtrak — Savings: $1.6 Billion. Despite requirement that Amtrak operate on a for-profit basis, it continues to receive about $1.6 billion in taxpayer funds each year. Forty-one of Amtrak’s 44 routes lost money in 2008 with losses ranging from $5 to $462 per passenger. •Reduce Subsidies For The National Endowments For The Arts And Humanities, The Corporation For Public Broadcasting, And The Legal Services Corporation — Savings: $600 Million. NEA, NEH, and CPB provide grants to supplement other sources of funding. LSC funds services mostly duplicative of those already offered by states, localities, bar associations and private organizations. •Eliminate Title X Family Planning Funding — Savings: $300 Million. Title X subsidizes family planning programs that benefit abortion groups like Planned Parenthood. •Reduce Foreign Aid — Savings: $100 Million. Stop borrowing money from countries that oppose America’s interests in order to give it back to them in the form of foreign aid.If pursued with focus and discipline, Mitt’s approach provides a roadmap to rescue the federal government from its present precipice. But that respite will be short-lived without a plan for the looming long-term threat posed by the unsustainable nature of existing entitlement obligations. Learn more about Mitt’s proposals for entitlement reform: Medicare and Social Security.2.Empower States To Innovate — Savings: >$100 billion •Block grants have huge potential to generate both superior results and cost savings by establishing local control and promoting innovation in areas such as Medicaid and Worker Retraining. Medicaid spiendng should be capped and increased each year by CPI + 1%. Department of Labor retraining spiendng should be capped and will increase in future years. These funds should then be given to the states to spend on their own residents. States will be free from Washington micromanagement, allowing them to develop innovative approaches that improve quality and reduce cost.3.Improve Efficiency And Effectiveness. Where the federal government should act, it must do a better job. For instance: •Reduce Waste And Fraud — Savings: $60 Billion. The federal government made $125 billion in improper payments last year. Cutting that amount in half through stricter enforcement and harsher penalties yields returns many times over on the investment. •Align Federal Employee Compensation With The Private Sector — Savings: $47 Billion. Federal compensation exceeds private sector levels by as much as 30 to 40 percent when benefits are taken into account. This must be corrected. •Repeal The Davis-Bacon Act — Savings: $11 Billion. Davis-Bacon forces the government to pay above-market wages, insulating labor unions from competition and driving up project costs by approximately 10 percent. •Reduce The Federal Workforce By 10 Percent Via Attrition — Savings: $4 Billion. Despite widespread layoffs in the private sector, President Obama has continued to grow the federal payrolls. The federal workforce can be reduced by 10 percent through a “1-for-2” system of attrition, thereby reducing the number of federal employees while allowing the introduction of new talent into the federal service. •Consolidate agencies and streamline processes to cut costs and improve results in everything from energy permitting to worker retraining to trade negotiation.That is quite a detailed plan. Now I ask again, what are the details of Obama's plan?

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