Thursday, May 26, 2011

Gingrich's Economic Plan - A Great Plan for Economic Growth!

"Newt Gingrich may have, to the glee of the left, been written off by everybody who's anybody on the right. But he's put forth one of the most laudable economic plans in memory" says the Editorial on the Investors Business Daily site. His audacious five point economic reform plan is by far the best put forward by any presidential candidate. The best feature of his plan is that it totally eliminates capital gains taxes, and not just reduces them. This one point alone would be real economic stimulus and cost just a small amount of government revenue. It would have the potential to create millions of jobs, and that additional tax revenue would make up what would be lost by eliminating the capital gains tax. Hong Kong became the economic power house of Asia by its elimination of capital gains taxes. Having no tax on capital would attract foreign capital into the country. New foreign capital would pour into the country, spurring economic growth. The rest of the Gingrich economic plan is just as good: a no-new-taxes pledge, full deduction of capital expenses, a huge cut in our highest-in-the-world corporate tax and abolition of the estate tax. Equally as bold, he would repeal Obama Care, abolish the National Labor Relations Board and "replace" the Environmental Protection Agency. I can not wait to say good bye to the EPA. Newt Gingrich told CNBC  his plan comes straight out of "the Reagan playbook" and "would move us toward a very dramatic job growth," lessening government dependency and practicing fiscal restraint. If Newt Gingrich spends the coming months of the presidential campaign pushing this plan, and coming out with other plans as equally bold, new, and as great as these, he will be rising to the top of the field pretty quickly. This plan is that good, and that bold. It does remind one of Reagan. These kind of policy ideas will get people inspired, and start to support him. I don't think we can write of Newt yet. Especially after this bold and great economic plan.

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