During the Las Vegas debate one of the big criticisms of Herman Cain’s “9-9-9” plan was the fact that it would not create the jobs desperately needed for our country. While the candidates were taking turns attacking the plan, Mitt Romney mentioned his own “59 point” plan. Ron Paul also mentioned his ideas for his economic plan. Just days after the debate, Rick Perry said that soon he plans on releasing his own plan. Since there is a possibility of one of these men being our next president I thought it would be beneficial to investigate their plans.
The “59 point plan” takes its name after the 59 point proposals that Romney hopes will stimulate the economy. Romney says that this plan will create 11.5 million private sector jobs and lower the unemployment rate to 5.9 percent by the end of the first term (Friedman). The plan to do so is very simple and not very innovating. He wants to lower the corporate tax to 25 percent, which he believes will cause corporations to hire more people. Next he would eliminate “Obamacare”, get rid of regulations on corporation’s Obama put in place (Friedman). This seems like a ridiculous idea to me because deregulating of everything is a big part of what got us into this mess. A big component of this plan is to make it easier to drill for oil and natural gas in the US (Friedman). At the debate, Romney mentioned that he would also like to produce more manufacturing and technology jobs, which I think is a good idea. Regarding his plan Romney says “It’s a practical plan to get America back to work. It’s also immediate”(Friedman).
Next is Ron Paul’s plan. He also made mention of some of his proposals at the Las Vegas debate. Although, there isn’t a good chance that he will be our next president, I was still interested in investigating it further. First, he said that he would have a balanced budget which he would do by cutting the size of the federal government. He plans on doing this by cutting the Department of Education, Environment, Housing, and Urban Development (Bingham). He says that he would not fire the people already working in those agencies, but transfer them to other departments. However, that would eliminate thousands of jobs for future federal employees. He would also cut 40 percent of the Food and Drug Administration’s budget (Bingham). This is an outrageous idea. The FDA’s job is to make sure that our food and other products are safe. If you cut their budget by almost half, what will it mean for our products? I believe we would start hearing about salmonella in our food more. He would also pull out troops in some places and cut some defense spending because as he said in the debate “we have spread ourselves too thin.” This is actually a really smart. We have missions in some countries that are unnecessary. Overall, his plan would slash about “$1 trillion from the federal budget” (Bingham).
Finally, we have Rick Perry’s plan. Although, he has not put out the actual plan yet, he made reference to it at a recent event in Iowa. The major part of his plan would be a flat income tax for everyone (Erb). He says that he plans on releasing his plan in a few days. After watching the debate and hearing the points made about Herman Cain’s plan, I do not think a flat tax would be a good idea. As mentioned, during the debates it would make some people pay more in taxes than they do now. On the other hand, people making millions of dollars each year would pay less than they do now. With the discontent around the tax issue on the rich, I don’t think Perry’s plan will be well received by the public.
Works Cited
Bingham, Amy. "Ron Paul’s Economic Plan Eliminates Department of Education and 5 Others." ABC News. Web. 23 Oct. 2011. http://abcnews.go.com/blogs/politics/2011/10/ron-pauls-economic-plan-eliminates-department-of-education-and-5-others/.
Erb, Kelly. "Perry Hints At 'Simple' Flat Tax - Forbes." Information for the World's Business Leaders - Forbes.com. Web. 23 Oct. 2011. http://www.forbes.com/sites/kellyphillipserb/2011/10/19/perry-hints-at-simple-flat-tax/.
Friedman, Emily. "Romney’s Job Plan Promises 11.5 Million Jobs in First Term - ABC News." ABCNews.com: Daily News, Breaking News and Video Broadcasts - ABC News. Web. 23 Oct. 2011. <http://abcnews.go.com/blogs/politics/2011/09/romneys-job-plan-promises-11-5-million-jobs-in-first-term/>.
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