Moves Like Romney

Mitt Romney has just climbed a peg or two in my opinion. Maybe not as the best presidential candidate, but as a superb money manager. His quest for paying a tax rate that most of us dream about is a reality. Congratulations Mitt! You’ve done exactly what the founding fathers of this country advised us to do – pay the least amount of taxes that are legally required.

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Romney released his returns for 2010 and an estimate for 2011 last week. His effective tax rate for both years are 15% or lower. His income for both years was upwards of $20 million. Contrast that with Gingrich and Barack Obama, both of whom paid twice the rate the Romney paid. How so?

Romney derived the vast majority of his income in the form of either capital gains or qualified dividend income. Both are taxed at a lower rate of 15%. Gingrich and Obama derived the bulk of their income from earned income, which is taxed at a higher rate, as high as 35%. Romney makes his money work for him, while the other two work for their money.

If there ever was a question in my mind as to who understands how money works, Romney or the Obama/Gingrich pair, the answer is quite clear. Romney is much better CEO material…but is he good Commander in Chief Material (something the fading Rick Santorum keeps pointing out).

In my opinion, this country needs a good CEO more than it needs a good Commander in Chief at this point in history. Yes, we have threats that we must address and face daily, but we also have experts on the armed forces, joint chiefs, the NSA, the CIA and a host of others who are the real decision makers. What we don’t have is someone in the White House who knows how to really run finances efficiently. Romney fits that bill.

This country is at the precipice of financial catastrophe. Who better than a financial guru to lead it out? This is not an endorsement for Romney or anyone else, but one has to start thinking aloud about the possibility of Romney Presidency.

Of course, any nomination is far from clear at this point. Gingrich is surging based on his debate performance, but he still lags when it comes to a head to head contest against Obama. Romney wins that contest. Take away the crowds, and Gingrich appears as a mere mortal on stage. Gingrich plays to the crowds better than anyone on the Republican ticket, as he should. His command of history and oration is excellent. And, his knowledge of the trigger points that turn on audiences is almost Reagan like. However, we don’t necessarily need a historian or an orator in the Whitehouse…we need someone who understands how to right a ship that has been off course for several decades now.

It’s time for Gingrich to step up and offer a plan that allows for fiscal and monetary reform. So far that has not been put forth. There is no question that we need entitlement reform, lobbying reform, tort reform, term limits and fiscal austerity to move in the right direction. Then there’s the jobs issue. So far, the candidates are big on rhetoric but short on details. And, it’s time for Romney to step up and defend the right to make and manage money. He knows how to do that better than all the candidates put together. What we need from all the candidates is specifics that play to their strengths. So far we are getting a lot of information that gives us pause, not hope.

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5 Responses

  1. Debbie Robinson

    A vote for Romney is the same as electing Obama for another four more years!

  2. teresa haynes

    We don’t want no more Obama wannabees and Romney is one of them.

  3. dkm

    So now You and your publication give Mr. Ron Paul, Zilch in acknowledgement/respect for His campaign! HHmmm…

  4. Ken

    Consider this:
    A CEO is used to saying what he /she wants done and expecting it to get done.
    In government, you have to work through a process, and abide by laws.
    A CEO can hire and fire employees. A president can only ask for resignations.
    A CEO can “incentive” employees or people who report to him/her. A government employee CANNOT be rewarded in such a manner.
    A CEO or private enterprise can change its focus whenever it chooses; no government can make changes without the Legislature’s approval.
    I am constantly amazed at how people are so ignorant about how their government works. Government cannot work like private enterprise, simply because there are so many different needs throughout the country.

    Your opinion piece illustrates that very clearly. If you truly believe we don’t need someone who can make decisions regarding the safety of the entire country (“In my opinion, this country needs a good CEO more than it needs a good Commander in Chief at this point in history.”) , or if you believe that our financial problems are isolated to this country only, then you are truly in denial. Whether you believe Romney or Gingrich can lead this country out of its’ financial problems is not for me to argue. But, If neither of them can work with Congress to get things done is where the question lies. And, if the belief is that Republicans will work together – think again. History shows this not always the case. Remember, each member of congress represents an interest within their respective districts, and not all districts have the same issues or demographics.

    In my opinion, the question you should be pondering is why has this Congress refused to work with this President FROM DAY ONE? (Remember this: When this president was inaugurated the congressional “leaders” refused to even come and enjoy the Super Bowl at the White House. That, sir, is true HATE.) And, in my opinion, anyone who refuses to ask that question is really in denial about why this country is in trouble. There is a reason we have three SEPARATE branches of government. If the Executive branch says we should go in this or that direction, the Legislative branch says, “we can make that happen”, or “here’s the money to make that happen”, or “no”. The Judicial branch says, “that’s legal”, or “that’s not legal”. But, they must all work together!

    Lastly, many people actually enjoy working for their money. Working for money is simply one way of realizing self worth. It is unrealistic to think that “everyone” should be like Romney. To believe so would mean that you could not eat at a resturant, buy groceries (heck you wouldn’t even have groceries), drive a car, fly in a plane, walk into a bank and talk to a teller, or even live in a big home. (Or do we re-institute slavery?)

    I understand your piece is meant to open the eyes to the possibility of being wealthy, or making money work for you, but there are too many assumptions that carry erroneous beliefs. And BTW: There is nothing wrong with being wealthy (even Jesus supported it), but not everyone will want that or achieve it.

  5. Brian Morris NZIBS

    It may surprise many Americans but, here in New Zealand, we follow US politics with interest and knowledge.
    Point 1: The ‘middle America’ crowd is not yet ready for a Mormon president. It’ll come, as it did for catholics, but not in 2012.
    Point 2: Your commentary suggests Romney is an astute big-money-manager. Sure, he has worked with teams of astute money managers and they all got rich. But was he the great leader and major-decision-maker, or a team player who is now basking in the glow, as though he lit the candle?
    Point 3: When a presidential candidate is so rich he doesn’t know the price of a loaf of bread or a pint of milk, who would put him in charge of the family purse? Not Mom and Pop America.
    Keep looking, America. You haven’t found a R candidate yet who could beat Obama.
    I’m betting Obama by a significant margin in November.
    Brian Morris, Auckland.


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