EconoMeter: What can Obama do to fix economy?
Roger Showley, SAN DIEGO UNION-TRIBUNE
Sunday, June 19, 2011
Kelly Cunningham, National University System
A myriad of initiatives would allow the economy to grow much faster. Start by unwinding the excessive and overly restrictive regulations implemented by his administration, including ObamaCare, cap and trade, exploding deficit spending, calls for higher personal income tax rates. Implement Reagan-like tax reforms with lower rates on businesses and individuals to spur entrepreneurship and investment. Eliminate corporate welfare with a flatter, simpler system ending political favoritism and capital misallocation, clearing out loopholes and special favors, and reducing corporate tax rates from 35% to 15%. Curb federal spending from 24% of GDP today to historical revenue averages of 18%.