Thursday, March 29, 2007

Romney at the Club for Growth   [Ramesh Ponnuru]

Almost everything is off the record at the Club for Growth's "winter" conference, but I can say that the dozen or so attendees to whom I spoke after Mitt Romney's speech were impressed.

Since the campaign issued a press release about the speech, I can also comment a little about its contents. Romney hit every one of the club's buttons. He came out against most trade barriers, for reductions in marginal tax rates, against the "death tax," for cuts in corporate tax rates to make our rates comparable to those of other countries, for federal tort reform, and for scaling back Sarbanes-Oxley. He repeated his call for federal spending to shrink by one percent in real terms every year.

A few attendees complained about the vagueness of Romney's proposals. While he has come out for more detailed and substantial tax cuts than Rudy Giuliani, John McCain, or Fred Thompson, he didn't say what corporate and personal income tax rates he wanted, or offer an estimate of the budget impact of his tax cuts. On Social Security, he spoke against tax cuts but otherwise merely offered a list of options—with personal accounts the last one on the list.

All in all, it seems like a perfectly fine economic plan if you're looking for a conventional conservative platform and a smart businessman to sell it. I don't think it is a great tax plan for the general election, however, and Republicans need one.

03/29 10:39 PMShare