COLUMN: Romney right to take on the economy

The economy should be on the forefront of students’ minds as they head to the polls on election day.

Over half of college graduates are either unemployed or underemployed in today’s economy (USA Today, April 23, 2012). This country needs a president with experience creating jobs in the private sector.

Mitt Romney’s proposed across-the-board tax cuts will provide necessary tax relief for all Americans, as well as an increase in job creation. First of all, according to his campaign platform, Romney proposes cutting individuals’ tax rates by 20 percent. Additionally, he would reduce corporate tax rates.

Those who oppose corporate tax cuts overlook the extent to which corporations are responsible for job creation. No matter how big or how small, when businesses are required to pay less in taxes, they are able to hire more workers, raise wages and reinvest in the economy.

A Romney White House will also decrease our national deficit. At current spending rates, not only will today’s taxpayers be paying interest on the nation’s debt throughout their life time, but this burden will also be passed along for generations to come.

President Obama campaigned on lowering the deficit; however, the debt has increased more in his almost four years in office than it did over the course of eight years under President Bush (CBS News, March 29, 2012). A Romney budget will continually ask the question: is this expenditure worth borrowing money from foreign competitors such as China?

While it is important to rein in government spending, this should not be done at the cost of providing students with higher education opportunities. Many students would not be able to attend college without the availability of Pell Grants and student loan programs. However, due to the nation’s economic turmoil and inability to pass a budget, Congress and President Obama recently had to decrease Pell Grant Funding.

With Romney’s business sense, he proposes that we assess the structure of government programs, Pell Grant allocation included and streamline the process, allowing students to reap the most from the program’s limited funds. Costs saved during the allocation process can be spent directly on students.

Repealing the Affordable Care Act, otherwise known as Obamacare, is one step in reducing deficit spending. Obamacare, with its trillion-dollar increase in government spending, is piling costs onto both taxpayers and the deficit. Individual states are capable of more economically efficient plans that cater specifically to their citizens.

While some aspects of Obamacare are necessary, such as the provision that prevents people with preexisting conditions and no lapse in coverage from being denied healthcare, the same advantages can be achieved with a different plan. Romney proposes allowing insurance to be purchased across state lines, as well as allowing individuals to form purchasing groups to buy coverage at a group discount. Such added competition would automatically incentivize companies to decrease their rates, thus achieving more affordable coverage.

Voting is one of the most fundamental rights we hold as American citizens. Furthermore, it is our civic duty to vote responsibly by first educating ourselves on the issues. I encourage all voters to take time to read the variety of issues on each candidate’s platform before casting a ballot.

Editor's note: Megan Gill is chairwoman of the College Republicans at Central Michigan University.


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