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Columns

August 11, 2012

Here's the speech Romney should give on Bain Capital

(Continued)

Your taxes sponsored at least six similar Obama-backed bankruptcies.

Using my Bain skills, I hope to turn around another distressed enterprise: the American economy.

The growing and uplifting economy that most of us remember can rise again. The key is to starve and sedate the federal government that expanded for decades, became fat under President George W. Bush and then, under Obama, grew morbidly obese and openly hostile to job creators.

How, specifically, can we reverse this damage? For starters:

An optional, 15 percent flat income tax would put today’s flaccid 1.5 percent growth on steroids. So would cutting America’s uncompetitive 35 percent corporate tax rate to 15 percent. Capping dividend and capital gains taxes at 15 percent also would electrify business investment and expansion.

A moratorium on new regulations and a critical review of Dodd-Frank, Sarbanes-Oxley and other impenetrable laws would loosen and remove the red tape strangling American companies. Repealing and replacing Obamacare would be a powerful remedy.

Freeze federal spending for one year, and then cut it 1 percent every year thereafter. Obama’s 49.7 percent increase in U.S. national debt (from $10.63 trillion at his inaugural to $15.91 trillion today) bought America nothing. Enough!

I have a secret weapon to make this plan succeed: the American people.

We can inspire the world again with our products, inventions and ideas. First, we must pry Uncle Sam’s unaffordable, dream-crushing boots from the necks of enterprising men and women. I have maximum confidence that when Washington once again is the home of our servants and not the mansion of our masters, this republic’s emancipated citizens will reconstitute the economy, the society and the nation that we love, remember and miss so much.

Deroy Murdock is a columnist with Scripps Howard News Service. Email deroy.Murdock@mail.com.

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