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Articles by Donald E. L. Johnson

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Mitt Romney’s 59 economic reforms

Mitt Romney introduced his economic reform plan today in USAToday. The 59 points follow:


  1. Maintain current tax rates on personal income

  2. Maintain current tax rates on interest, dividends, and capital gains

  3. Eliminate taxes for taxpayers with AGI below $200,000 on interest, dividends, and capital gains

  4. Eliminate the death tax

  5. Pursue a conservative overhaul of the tax system over the long term that includes lower,

    flatter rates on a broader base

  6. Reduce corporate income tax rate to 25 percent

  7. Pursue transition from “worldwide” to “territorial” system for corporate taxation

  8. Repeal Obamacare

  9. Repeal Dodd-Frank and replace with streamlined, modern regulatory framework

  10. Amend Sarbanes-Oxley to relieve mid-size companies from onerous requirements

  11. Ensure that environmental laws properly account for cost in regulatory process

12 Provide multi-year lead times before companies must come into compliance with

onerous new environmental regulations

  1. Initiate review and elimination of all Obama-era regulations that unduly burden the economy

  2. Impose a regulatory cap of zero dollars on all federal agencies

  3. Require congressional approval of all new “major” regulations

  4. Reform legal liability system to prevent spurious litigation

  5. Implement agreements with Colombia, Panama, and South Korea

  6. Reinstate the president’s Trade Promotion Authority

  7. Complete negotiations for the Trans-Pacific Partnership

  8. Pursue new trade agreements with nations committed to free enterprise and open markets

  9. Create the Reagan Economic Zone

  10. Increase CBP resources to prevent the illegal entry of goods into our market

  11. Increase USTR resources to pursue and support litigation against unfair trade practices

  12. Use unilateral and multilateral punitive measures to deter unfair Chinese practices

  13. Designate China a currency manipulator and impose countervailing duties

  14. Discontinue U.S. government procurement from China until China commits to GPA

27. Establish fixed timetables for all resource development approvals

  1. Create one-stop shop to streamline permitting process for approval of common activities

  2. Implement fast-track procedures for companies with established safety records to conduct

    pre-approved activities in pre-approved areas

30. Amend Clean Air Act to exclude carbon dioxide from its purview
31. Expand NRC capabilities for approval of additional nuclear reactor designs
32. Streamline NRC processes to ensure that licensing decisions for reactors on or adjacent to

approved sites, using approved designs, are complete within two years
33. Conduct comprehensive survey of America’s energy reserves
34. Open America’s energy reserves for development
35. Expand opportunities for U.S. resource developers to forge partnerships with neighboring countries 36 Support construction of pipelines to bring Canadian oil to the United States
37. Prevent overregulation of shale gas development and extraction
38 Concentrate alternative energy funding on basic research
39. Utilize long-term, apolitical funding mechanisms like ARPA-E for basic research
40. Appoint to the NLRB experienced individuals with respect for the rule of law
41. Amend NLRA to explicitly protect the right of business owners to allocate their capital as they see fit 42. Amend NLRA to guarantee the secret ballot in every union certification election
43. Amend NLRA to guarantee that all pre-election campaigns last at least one month
44. Support states in pursuing Right-to-Work laws
45. Prohibit the use for political purposes of funds automatically deducted from worker paychecks
46. Reverse executive orders issued by President Obama that tilt the playing field toward organized labor 47. Eliminate redundancy in federal retraining programs by consolidating programs and funding streams,

centering as much activity as possible in a single agency
48. Give states authority to manage retraining programs by block granting federal funds
49. Facilitate the creation of Personal Reemployment Accounts
50. Encourage greater private sector involvement in retraining programs
51. Raise visa caps for highly skilled workers
52. Grant permanent residency to eligible graduates with advanced degrees in math, science,

and engineering
53. Immediately cut non-security discretionary spending by 5 percent
54. Reform and restructure Medicaid as block grant to states
55. Align wages and benefits of government workers with market rates
56. Reduce federal workforce by 10 percent via attrition
57. Cap federal spending at 20 percent of GDP


58. Undertake fundamental restructuring of government programs and services

59. Pursue a Balanced Budget Amendment 

Posted by Donald E. L. Johnson on 09/06/2011 at 04:39 PM

'12 PresidentEconomyFinancial ReformHealth insuranceHealth Insurance ReformTaxes

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