Clear Fog Blog

Political musings from Warren E. Peterson

Tim Pawlenty, One to Consider

Posted by Warren Peterson on June 11, 2011

Read the speech presidential candidate Gov. Tim Pawlenty gave at the University of Chicago on June 7, 2011. He lays out his views on the economy in no uncertain terms. He claims, “I’m willing to tell Americans the hard truth. And I believe Americans are ready to hear it.” We shall see.

One political axiom states that a popular politician can have one or two special interest groups in opposition but three or more make election problematic. Gov. Pawlenty’s “hard truth” takes on more than three. The frightening performance of the American economy under Obama may prove the exception to the rule. One can only hope. He will have to convince voters that their self-interest lays not in continuing a lemming run toward a cliff but in radical reform – reform of taxation, reform of spending, reform of entitlements, reform of regulations, reform of government.

The Chicago speech is a good start. Read it HERE

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2 Responses to “Tim Pawlenty, One to Consider”

  1. Fredc said

    “Pawlenty’s $11.6 trillion tax-cut plan, which reduces rates on income, capital gains, interest, estates and dividends, is almost three times larger than the proposals endorsed by House Republicans.” Bloomberg News

    Help us Main St. guys understand how this addresses the unemployment problem or the deficit. Half of these cuts go to the top .1% of tax payers, people making over $500K per year. Do you think those wealthy people will go running out to invest their tax savings in new jobs for the unemployed? Of course not.. They add it to the trusts for their children, since Pawlenty also kills the Inheritance tax. And, since the Pawlenty solution ignores (or increases) the unemployment rate, currently at 14 million, those poor unemployed folks don’t have income to spend to improve the economy and they don’t pay taxes to help the deficit problem. They lose, again. Who exactly benefits from this? Pawlenty’s rich campaign contributors, and that is exactly who he’s talking to!!!

    • I have not read the details of Pawlenty’s plan but I suspect much of his tax proposals are aimed at small business which generally pay personal income tax on the profits of their businesses as well as their personal income. Since small business accounts for most job growth, lower tax on these businesses would provide them money to expand and hire people. Even the money going into “trusts for children” of the rich is not stored under a matress but is invested in the economy. The current crisis calls for action now without worrying about class warfare. Once recovery is established, we can deal more directly with tax reform.

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