Mitt Romney's Do-Next-to-Nothing Policy

Two days ago I took the Flat Tax Twins to tax for being non-specific about their flat tax proposals.

HOWEVER, compared to Former Governor Mitt Romney (R - Massachusetts) they are tax fighters extraordinaire. Here is what I read on Gov. Romney's campaign website.

Excerpted from a campaign press release dated Sunday, Apr 15, 2007

Governor Romney's Initiative To Protect American Taxpayers:

To Protect American Taxpayers, Governor Mitt Romney Calls On Congress To Re-Impose A Three-Fifths (60%) Supermajority Requirement To Raise Taxes. ....

Governor Romney's Lower Taxes Agenda:

... - Governor Romney Will Make The Bush Tax Cuts Permanent. ... - Governor Romney Proposes Lower Tax Rates For All Americans. ... - Governor Romney Will Fight To Abolish The Death Tax. ... - Governor Romney Proposes A Savings Incentive Plan. ... - Governor Romney Believes Our Corporate Tax Rate Must Be Competitive With The Rest Of The World. ... - Governor Romney Has A Record Of Fighting For Lower Taxes.

So the corner stone of the Governor's plan is to have a 3/5ths majority to pass increases to the income tax. But, this isn't really very much is it? Assuming Gov. Romney is elected, he may veto any proposed income tax increase. This requires a 2/3 majority to override. So, the governor either intends to use the 3/5th rule as cover to not veto or just wants somethings that sounds good but would have little practical application. (The 3/5th rule made sense for the Republican Majority in the 90's, which was always a slim majority, given that then President Clinton would likely sign any income tax increase coming out of the congress).

Other than what do have: Keeping the Bush tax cuts in place, including the Death Tax? This is like doing next to nothing since these are already in effect. Sure, it would be nice to make them permanent. But this is hardly bold action on taxes.

Rate cuts for individuals and Corporations? Always a nice idea. But in the end it just implies that Governor Romney appreciates the tax code the way it is. That is, a graduated tax scheme with high marginal rates seems to work for the former Governor. And, like his competitors, he has no specifics. How would he cut rates? Would he close loopholes? How does the Governor feel about the AMT since he ran one of the highest income tax states in the nation?

If the Governor doesn't push hard with a real vision on our federal tax scheme, he will have no real chance at his party's nomination.