Republican Optimism

Let me depart from my  usual NC centric blogging. I make no apologies for the fact that I am a Republican. (That's a member of the GOP, for those of you who don't understand the difference between a lower case "r" republican and a upper case "R" Republican. Members of the GOP are the upper case variety. Lower case "r" republicans tend to oppose monarchy. In the Commonwealth, they tend to want to cut ties to Queen Elizabeth II. For the record, I take no position on the issue of monarchy. I can see benefits to a constitutional monarchy, and I can see detriments.)

Larry Kudlow over at Real Clear Politics has an interesting article on what he thinks the GOP should be focusing on in the next congress. He wants us to pass, even if Obama vetoes it, legislation that approves Keystone XL, increases domestic oil and gas production and removes oil export limits. He says a bill or bills that do that will improve the economy, create jobs and make America stronger. I agree!

Further, he wants to cut business, especially corporate, taxes and stop the double taxation of corporate earnings. He's not proposing to do away with the dividend tax, just stopping the double taxation of foreign earnings. That happens because an American corporation normally pays a much lower rate on foreign earnings in the foreign country. Then, the American corporation, when it repatriates the earnings, pays the difference between the U.S. rate and the foreign rate. I agree, but would go one step farther.

I would eliminate the dividend tax. The British tried that in the early part of the Thatcher years and it lead to growth in the economy. Needing more revenue, the Blair government re-introduced dividend taxes. I would like to see us end dividend taxes. This would greatly simplify the tax code. It would make dividend paying stocks more attractive to investors and it would increase our savings rate in this country.

Will Obama sign any of those ideas into law? I doubt it. But, that makes those ideas the cornerstone of a campaign for President in 2016 and a reason for swing voters in Pennsylvania, Ohio, Illinois, Wisconsin and New Hampshire reasons to vote for their incumbent GOP Senator. It will give swing voters in Nevada, and Colorado reasons to switch to the GOP and replace incumbent anti-growth, anti-jobs obstructionists in those two states.

But, we're going to have to do more, especially in New Hampshire, Pennsylvania, Ohio, Illinois, Wisconsin, Colorado and Nevada. We have to have both a jobs friendly platform like I have outlined above. We have to have a platform that endorses families, young people and immigrants. To that end, I say we propose real border controls coupled with a recognition that we have people here who are not documented and entered illegally. Get those people identified, get them on the tax rolls, get them drivers licenses and auto insurance so they stop harming us. Stop the gay marriage opposition. Gays are people deserving of respect. To quote George W. Bush, don't be so critical until you've walked a mile in his shoes. Obama has moved the Democratic Party well to the left by punishing any moderates who are running this year. Now is the time to capitalize on his mistakes.

Walt-in-Durham