Mitt Romney's Job Plan

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Mitt Romney's Job Plan Promises 11.5 Million Jobs in First Term 

Republican Presidential Candidate Mitt Romney and one of the favorites to win the GOP Presidential nomination has reveled his jobs plan to the American people.  In fact, Romney's speech on how to create jobs in America doesn't offer many new ideas but it does offer a plan that until now Congress has lacked the fortitude to offer anything and President Obama has been reluctant to offer anything until this week when he plans to give his own job's plan speech.

In fact, Romney's jobs plan can be summed up with having repeal regulations, tax cuts and sanctions to China. Now sanctioning China is the first time any Presidential candidate outside of GOP Presidential hopeful Jon Huntsman that tough talk has been directed toward China. Now Romney's plan is heavily lad with paring back tax rates which is some liberals eyes will not solve America's woes.  Still Romney's plan is filled with conservative principles such as limiting government by reducing regulations while slashing taxes which is believed to help spur the American economy.

"The right answer for America is not to grow government or to believe that government can create jobs," Romney said upon releasing his plan. "It is instead to create the conditions that allow the private sector and entrepreneurs to create jobs and to grow our economy. Growth is the answer, not government."

Romney argues that lowering taxes is the swiftest route to job creation, which is why he laid out proposals to cut the top corporate income tax rate from 35 percent to 25 percent. He also would make permanent the tax cuts enacted under George W. Bush and eliminate taxes on dividends, interest and capital gains for anyone making less than $200,000 a year.

The former Massachusetts governor also outlined trade policies that would be favorable to American businesses, including free trade agreements with Colombia, Panama and South Korea. He also promised to sanction China for keeping its currency artificially low, a move that he said would level a key trade imbalance. "I'll clamp down on the cheaters, and China's the worst example of that," Romney said. "We can't have a trade war. But we can't have a trade surrender, either."

Romney promised to roll back regulations immediately if elected, describing a series of executive orders he would issue. Those would curtail Obama's healthcare overhaul, make it easier to obtain oil-drilling permits, and eliminate other regulations. Also included in the plan were a series of measures to sharply curtail government spending, including a 10% cut in the federal workforce, a promise of no new regulations that add new costs to the economy and a plan to save money on Medicaid by converting the program to block grants.