The second issue in the Mitt Romney campaign is going to focus on the economy.
Mitt got his MBA from Harvard Business School and has extensive experience in the
financial arena. Gov. Romney got his start at Bain & Company where he made a name
for himself as a no-nonsense businessman who pulled out all the fat in a program in order
to create unmatched efficiency. He was so respected at Bain & Company that he was
asked to head a spin-off company named Bain Capital Investments. Under Mitt’s
control, Bain Capital became one of the nation’s most profitable companies. Mitt also
managed the Salt Lake City Olympics. Plagued by inefficiency and corruption, the city
fathers pleaded for Mitt to come to their rescue and restore order to their Olympic
program. Mitt not only destroyed the inefficiency and corruption, he managed to turn the
2000 Winter Games in Salt Lake City into one of the most profitable and successful
Olympic games in history. As governor of the Commonwealth of Massachusetts, Mr.
Romney has shown unprecedented economic leadership and fiscal responsibility. Mitt
has brought everything he has learned from his highly successful private business life and
applied it to running the Commonwealth of Massachusetts.
The main theme in Governor Romney’s economic platform is fiscal
responsibility. He doesn’t believe in throwing tax money at problems. The four main
economic points that are important to Mitt are decreasing taxes, increasing jobs, creating
a smaller, more efficient government, and implementing new economic, growth-centered
The first point is about decreasing taxes. Mitt has pushed time and time again the
importance of tax cuts wherever possible. He believes that the people of the United
States know better than the government how their money should be spent. He believes
that if taxes are cut then the public will reinvest that money back into the economy and
boost monetary output on a macro level.
The second point that is important to Mitt is increasing jobs. He thinks that
increasing jobs is good for both the economy as a whole and for those living under the
financial system. Given this belief, Mitt has made huge strides in Massachusetts in
The third point of importance is the belief in a smaller, more efficient
government. He thinks that with a smaller government comes fewer taxes, less
government say in individual’s lives, and a more stable economy.
The fourth point is growth-centered economic reform. Mitt truly believes in
thinking outside the box in order to create a more stable economy. It is this creative
thinking that has been the explanation for the rapid economic growth Massachusetts has
experienced since Mitt has become governor.
Mitt has proven that he is definitely in favor of decreasing taxes wherever
possible to help Americans. Mitt has pushed for a decrease in the personal income tax in
Massachusetts from 5.3% to 5%. When the numbers came back from fiscal year 2004,
Governor Romney saw that a $1.2 billion increase in government revenue had occurred.
He could have simply left the tax issue alone and reinvested that money into any of the
state’s many tax-dollar consuming institutions. Instead, he believed that the tax payers
should have their money back and has proposed that a .3% income tax decrease be
implemented immediately. Mr. Romney has been highly committed to not increasing
taxes and will continue if elected President of the United States. Mitt also does not
support the Forbes flat tax. He sees this as a tax benefiting the rich. Governor Romney
has also used taxes as a way of encouraging and discourage behaviors in his
Commonwealth. One example of this has been in employee training. He has offered
wide ranging tax incentives to employers who actively engage in giving their employees
more training. This program helped the Commonwealth in that it created a more highly
trained workforce and helped the employers by giving them tax breaks.
Governor Romney has been very focused on increasing the number of jobs in
Massachusetts. There was a major problem in his way however: the cost of living in his
commonwealth was incredibly high. Most major companies won’t relocate to an area
where the cost of living is incredibly high. In response to this, Governor Romney pushed
for more housing permits to be awarded and more multi-family houses to be constructed.
In response to his efforts, home owner costs have decreased by 12% in the greater Boston
area. Another way Mitt increased jobs in Massachusetts was to create a capital
investment and bond program set up to be friendly to potential Massachusetts-based
companies. His bond program alone awarded $500 million to burgeoning businesses in
the commonwealth. As a result of his jobs initiative, companies like Hanscom and
Natick Laboratories have been attracted to Massachusetts and brought with them
thousands of new jobs and millions of dollars in money. In 2004 alone, 25,000 new jobs
were created and the unemployment rate decreased to 4.6% (well below the national
Governor Romney has also pushed for a much smaller, more efficient
government. He is a huge believer in balancing budgets by cutting out waste. When Mitt
took office as governor, he was faced with a $3 billion deficit. By cutting worthless
programs, combining complementing programs, and increasing fees for highly
specialized government services, Mitt was able to turn a $3 billion deficit into a $700
million surplus. If that’s not amazing enough, he was able to do all of this without
having ever raised a single tax. These kinds of results didn’t happen overnight however.
It took a lot of work and compromising from both sides of the aisle to get this amazing
Finally, Governor Romney believes in growth-centered economic reforms. He
pushed for a deregulated auto insurance program because he knew that if insurance
companies were forced to compete for the public’s business, millions of citizens in his
state would pay much less for their insurance. Another growth-centered economic
program that was adopted by Mr. Romney was in the realm of welfare. He saw that
many welfare recipients hadn’t had a job in years and weren’t actively looking for one
either. He understands that most people don’t want to be on welfare and thus created
several barriers for those dead-beats who were using the welfare system as a free-loading
program. In his state, if you’re on welfare and you can have a job but aren’t looking for
one, you’re removed from the welfare program. He believes that all Americans feel
better about themselves when they have a job and thus are more productive. He refused
to appease a spirit that has wreaked havoc and caused poverty in the lives of many
Mitt Romney obviously has a lot of experience in financial issues and would be a
huge asset to America’s troubled economic arena. If Mitt became president, he would
take control of the America economy with the same insight and leadership that saved a
failing Salt Lake City Olympic Games and rescued a $3 billion Massachusetts state
deficit from becoming a major economic downturn. America needs Mitt Romney.