Romney Lays Out His Economic Plan and Mitt Romneys New Math for Jobs Plan Doesn't Add Up – Essay Example
The paper "Romney Lays Out His Economic Plan and Mitt Romneys New Math for Jobs Plan Doesn't Add Up" is a good example of an essay on business.
Romney Lays Out his Economic Plan - Dividend In a company or a business enterprise, part of the profit that accrues is divided to shareholders of the company. This part of the company’s profit is referred to as the dividend.
Romney’s Promises to Help the Economy
Romney reveals his plan to improve the American economy. That is; reducing the corporate tax rate, putting sanctions on China on the basis ‘she’ is a manipulator of currency, reviewing the health care law and finally, cutting down taxes on investment and savings in order to uplift the middle class.
Romney’s Plan to China
In the case of China, Romney would put sanctions on the fact that China is a currency manipulator. According to Romney’s justifications, China’s currency is deliberately lowering the value of its currency in the world market. Consequently, it has led to cheap imports of Chinese products to American consumers. This further creates imbalances in trade. On the contrary, China is the leading government lender to the United States and a good trade partner. In this regard, it is highly doubtful that China is artificially regulating its currency.
Romney’s economic plan is a classic republican blueprint. It is different from the typical republican plans. This is because; the plans depend on cutting taxes and reducing regulations.
Criticism of Romney
The former Utah governor criticized Mr. Romney. He said that the job creation record was “one of the saddest records” and “sadly similar to that of Obama”. Furthermore, the National committee criticized Mr. Romney by stating that he has been meandering over the issue all year-round instead of offering leadership. A senior economist, Steve Blitz equally criticized Romney. He stated clearly that cutting down tax rates would not stimulate job creation. Some economists criticized the issue of placing sanctions on China. They said that China is a well-established trade partner and the largest government lender to the US. Moreover, Mr. Spence states that China would like America’s economy to recover fast since this would equally boost its economy.
Mitt Romney’s ‘new math’ for Job Plan doesn’t add up
I don’t believe Romney would create the 12 million jobs in the first four years. This is because irrespective of whoever becomes president, it is predicted by Moody analytics that12 million jobs would be created by 2016. Moreover, macroeconomic advisors predicted a gain of 12.3 million jobs. Therefore, Romney is basing his campaigns on already existing facts that are bound to happen even if he fails in his presidential bid. Nevertheless, the specifics of the number of jobs to be created, that is, 7million, 3million and, 2million are not reflected in the white paper. Still, Romney claims them to have come from different studies with totally different timelines. Finally, in those studies, a lot of controversies arise concerning Romney’s policies and the already existing policies that aim in achieving the same goal. Another problem that Romney has with china is that China’s act of currency manipulation has deprived America of over 2million jobs. Hence by cracking down on China, he will be able to recover the 2 million jobs.
IPR stands for Intellectual Property Right. It pertains to the right that an individual acquires over a property that he or she created using creativity or intellectual prowess. In most circumstances, the property is intangible in nature.
Bait and switch
The case of bait and switch in this article refers to unscrupulous tactics of campaigning. In this regard, Romney bases his job creation plan on studies that do not even evaluate his economic plan.