Romney 2012


Romney 2012

Romney for President

My top criterion for president is that the candidate will have had significant successes in the private economy. Romney by far meets this criterion by wide margin. As a venture capitalist he successfully invested to create new companies which significantly grew the economy and generated thousands of long term jobs. Sure Romney also purchased companies and sold off assets and cut jobs. He will be attacked for this. But these cuts were necessary. Products with poor prospects for profit must be phased out. As a result more new capital is available for new ventures, companies, even industries to generate new economic growth and jobs. This is what economist Joseph Schumpeter referred to as ‘Creative Destruction’.

Romney will be attacked for changing positions. However, many of these position changes can be traced to 2000 when he nearly defeated Kennedy for Senate. In one debate Rick Perry stated Romney was not firm on many policies. Romney responded that his positions are succinctly detailed in his book ‘No More Apologies’ and he stands by those. I read this book a year ago. I was very impressed with Romney’s deep knowledge and policy positions from economics, energy, entitlements, defense, debt management, foreign policy and especially his personal insight into China politics. Romney is especially bright and intellectually gifted.

I believe Romney at the moment refrains from too many policy specifics believing timing is not right. He also lacks charisma. These two factors are hurting him right now. I hope he soon starts elaborating his positions in details he is capable of. He was forced to explain his state health care. His main points were that it was a state solution to a state problem and that his plan was approx 25 pages in contrast to thousands for Obamacare and that BO never consulted with him about his state plan.

I believe Romney will work to repeal Obamacare. I also believe his positions on the most critical issues of the day from economic and energy growth, entitlements, debt reduction, defense, Iran, middle east, China etc. His positions on most of these issues are conservative and pro private economy.

Given his experiences and deep economics understanding I believe Romney will be the most successful of all candidates in implementing a pro growth economic policy. This is the United States most pressing issue.

No Republican candidates support the Fair Tax. Virtually all candidates support some variation of tax simplification and lower or flat taxes for individual or corporations. These are positive steps. However much more needs to be done to unleash our economic and global entrepreneurs. The Fair Tax zero percent corporate tax and elimination of annual $430 billion tax compliance costs will exactly accomplish this. We need to convince Romney.

If Romney is not nominated, I will also enthusiastically support Michele Bachman, Ron Paul, Herman Cain, and Newt Gingrich. Bachmann also has private economy experience although on much smaller scale. However she is an intellectual, very analytical, articulate, and unwavering in principle. Ron Paul has the best debt reduction plan how to eliminate unnecessary spending. Herman Cain would be much more attractive if he would have persisted with initial Fair Tax support and if he would hire a foreign policy guru to teach him. Cain is a very poor debater regarding foreign policy. Gingrich is a great debater and an intellectual. However he has never held a significant private economic position. History professor and Freddie Mac consultant do not count.

I will support any Republican over BO. I just believe Romney would make the best President. I hope he steps it up soon with more specifics.

Please add to this debate in this space.

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About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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