Ex-Reagan Adviser Bruce Bartlett: Romney's Tax Plan Will Not Revive The Economy
Contrary to the Romney campaign's promises, a former economic adviser to President Ronald Reagan says that Mitt Romney's tax plan just won't revive the economy.
"The idea that tax reform will jump-start an economy suffering from the after-effects of a cyclical downturn is nonsense," Bruce Bartlett wrote in a New York Times blog post on Tuesday. "There is little reason to think we will see tax reform any time soon, and even if Mr. Romney’s plan is enacted as proposed the growth effect will be small to nonexistent."
Barlett noted that the economy continued to grow at roughly the same rate after Reagan's own tax reform in 1986, adding that economists agree Reagan's 1986 tax reform had little impact on economic growth. Bartlett also wrote last year that tax cuts for the wealthy and for corporations did not help stimulate the economy under President George W. Bush, and that "there is no reason to believe" that the same policies would help stimulate the economy today.
The Romney campaign claims that its tax plan would create 7 million jobs, and that its overall economic plan will create 12 million jobs. But the Romney campaign based the 7 million job figure on one's economist's projection of job growth over the next 10 years, not the next four, according to the Washington Post.
Oh, darn... Another ex-Reagan guy says it won't work, the numbers are crap, and that the RMoney plan won't do anything for the problems...
I forget...(And I can't keep up with who is supposed to be a "RINO", and who is not...) Since it appears that anyone who doesn't suck up the GOTP :Koolaid: is apparently a "RINO", I guess you can add another ex-Reaganite to your list...
