Former Massachusetts governor hopes proposals will give him edge over Santorum before contests in Michigan and Arizona
Mitt Romney has unveiled a plan to cut taxes by 20%, in an effort to shore up his bid for the Republican presidential nomination ahead of primaries in Michigan and Arizona next week and the Super Tuesday contests a week later.
Romney, under pressure from rival Rick Santorum, who is neck-and-neck in the polls with him Michigan and Arizona, unveiled the latest – and most generous – version of his tax plans just hours ahead of a televised debate between the four remaining candidates.
"I'm going to lower rates across the board for all Americans by 20%," he told a crowd of about 500 gathered in a gymnasium at a Christian academy in Chandler, near Phoenix, Arizona.
Romney's plan has the appeal of simplicity and it could help him win over not only conservative voters but independents at a general election. The prospect of tax cuts, particularly the idea of 20%, is a tantalising prospect as voters do their sums, regardless of how much progressives argue that tax cuts mean poorer services.
The plan is aimed at giving Romney a much-needed edge in a closely-fought campaign. Michigan is his home state and defeat at the hands of Santorum would raise serious doubts about his chances of becoming the Republican presidential nominee.
Voters in Michigan, Arizona and Super Tuesday states such as Ohio rate the economy and unemployment are the most important issues.
Romney, speaking in Chandler, argued tax cuts would help the economy grow. He suggested 20% cuts in each of six tax brackets: 10%, 15%, 25%, 28%, 33% and 35%. These would become 8%, 12%, 20%, 22.4%, 26.4% and 28%.
The former Massachusetts governor said his plan would be revenue neutral, by limiting deductions, particularly for the wealthiest. Among deductions he planned to limit are charitable contributions and relief on mortgage interest payments.
"With regards to our tax policy, our growth with regards to our tax policy, there are a couple things I'd like to announce to you today. And in order to limit any impact on the deficit – because I don't want to add to the deficit – and also in order to make sure that we continue to have progressivity as we've had in the past in our code, I'm going to limit the deductions and exemptions, particularly for high-income folks."
Romney first set out tax plans in September but these dealt mainly with corporate rather than individual taxes.
Conscious of his potrayal by rivals as super-rich, out of touch with ordinary Americans and failing to pay a full share of tax, Romney he wanted to "make sure the top 1% keeps paying the current share they're paying or more."
Romney's tax plans for individuals are less generous than those of his rivals. Santorum proposes two tax brackets, 28% and 10%, and Gingrich a flat rate tax of 15%.
The crowd in Chandler was smaller than Romney had hoped for. He failed to fill the gymnasium, making unnecessary a planned overspill room. He has had trouble attracting big crowds it should have been easier to attract supporters in Arizona, which has a big Mormon population.
In his speech, Romney dropped mention of Santorum, who he had been referencing recently. He also ditched references to "Washington insiders", code for Santorum and Gingrich, opting instead to stay positive and present his own policies.
The four remaining candidates – Romney, Santorum, Gingrich and Ron Paul – go into Wednesday night's CNN debate knowing a good performance could tip the balance in the upcoming nominating states.
The debate, in Mesa, Arizona, is the first n a month, a relatively long gap in what up until now had been a series of debates on an almost weekly basis. There have been more than 20 debates so far, depending on how they are counted. After Wednesday night's encounter, there is only one more scheduled, in Portland, Oregon, on March 19.
Santorum needs a good performance in the CNN debate to maintain the momentum he gained from his victories earlier this month in Colorado, Minnesota and Missouri. He has steadily improved as a debater since the autumn.
He can expect to be questioned about comments he made about theology and a reference to Satan. Such comments may harm him in a general election but do not necessarily go down badly with Republican audiences.
As its Arizona, questions are likely on illegal immigration but the main issue will be the economy, giving Romney as chance to highlight his tax proposals.
Romney, still favourite to take the nomination but only just, also needs a good showing in Michigan and Arizona, both states he should have been able to bank on but where polls show Santorum running neck-and-neck with him. Santorum has also established leads over him in national polls.
Romney has been a poor debater but turned in one strong performance in January which may have been good enough to stop Gingrich building momentum after his South Carolina victory.
Gingrich, who has faded since South Carolina, has a reputation as the best debater but has been subdued recently. He too needs a good debate to regain traction for the Super Tuesday contests that include his home state Georgia.
Ron Paul had been hoping for victory in the Maine caucuses but lost out to Romney. He is working on a long-term plan to accumulate as many delegates as possible to take to the party convention in Tampa, Florida, where he hopes to wrest some concessions, at the least a much-coveted television platform speech.
Source: http://www.guardian.co.uk/world/2012/feb/22/mitt-romney-tax-cut-plans
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