No, not that.
Actually, the news story that I found most striking today was this description of his economic plan. Now, his plan is interesting to me because it does several things that are outside the usual playbooks for either party:
[In addition to cutting spending by $5T in five years he wants to flatten the tax code...]
His plan would also likely mean a cut for many of the tens of millions of households making between $17,400 and around $50,000. They'd presumably fall into the 10 percent bracket, down from the 15 percent rate they currently pay. In keeping with his traditional views on social issues, Santorum also wants to encourage family formation (he and his wife have six children themselves), by tripling the personal deduction for each child, and by scrapping marriage tax penalties.
Unlike Mitt Romney, Santorum has said he opposes a rise in the minimum wage, although he wouldn't scrap the concept altogether, as some in his party would. As well as auditing the Fed, he'd have it focus only on controlling inflation, and not on promoting employment. Santorum supports Rep. Paul Ryan's plan to save money by transforming Medicare into a system of private insurance. And like every 2012 Republican presidential candidate current or former, he'd repeal President Obama's health-care law.
So far, that's a plan that sticks pretty closely to the standard GOP script. But other aspects of Santorum's proposal set him apart from his party, by grappling with issues of concern to Americans further down the economic spectrum.
Again like most of his GOP rivals, Santorum would lower the corporate tax rate. But he'd establish two new rates: 17.5 percent -- a 50 percent cut from the current 35 percent rate -- for most businesses, and zero for manufacturers. The goal, his website says, is to "multiply job opportunities for struggling middle-income families and renew communities that have lost critical manufacturing jobs."
In campaign appearances and debate performances, Santorum has often appeared eager to reinforce that focus on restoring middle-class jobs -- implicitly bucking the standard Republican line that derides issues of economic inequality and mobility as class warfare.
"We need to talk about income mobility," he implored his party at a Republican debate on economic issues in November, noting the sky-high jobless rate for Americans without college degrees. "We need to talk about people at the bottom of the income scale being able to get necessary skills and rise so they can support themselves and a family."
By the same token, Santorum hasn't shied away from mentioning poverty. "I don't believe that poverty is a permanent condition," he declares in the plan. "How do we effectively address poverty in rural and urban America? We promote jobs, marriage, quality education and access to capital and embrace the supports of civil society."Now, since we're in the middle of a bruising primary battle, let's assume that whomever the final nominee happens to be will adopt the best ideas out of all the competing plans to take forward to the general election. What are the best ideas here? What might need to go? What do other candidates have that you'd like to see added to the final plan? For example, do you like minimum wage increases, or do you prefer to avoid them, or would you like to see the minimum wage discarded entirely?
Do you like the concept of fighting poverty by promoting marriage -- we've often seen good evidence that getting and staying married is among the most crucial factors in staying out of poverty. Will increasing the incentives for marriage cut poverty?
What about the tax benefit for kids? It appears he is proposing a deduction increase that can only answer to your actual liability, rather than an increase in the Child Tax Credit that (like the EITC) it can bring a "refund" even though you didn't pay the taxes in actual dollars. At the lower end this might move some families off welfare; although some on the right regard the EITC-type plan as a form of welfare, since it results in transfer payments to poorer families.
I don't think I agree, though, because families raising children is what produces the best and most successful citizens, who will go on to pay taxes in the future. It is therefore a kind of public good, in that all of us reap the benefits whether or not we pay into it (at least, all of us who live long enough to go on Medicare, or drive on the highways). It's something we might reasonably support, not out of charity, but because it's the right thing to do, and because -- like making sure children are educated -- it works to the benefit of all of us.
Anyway, it's an interesting set of proposals. What ideas did other candidates have you'd like to see added? Which of these ideas do you not like, and why?
