Remember that recovery summer we were supposed to be enjoying…last year? Well, with news of an impending double-dip recession, more Americans than ever, a whopping 89% to be exact, have a negative view of the economy.
Enter Former Minnesota Governor Tim Pawlenty.
The Republican presidential candidate came to President Barack Obama’s backyard and delivered his first major policy speech at the University of Chicago. Pawlenty came out swinging, leveling charges that the Obama administration is playing class warfare and killing job growth with over-regulation. His plan, titled “A Better Deal”, focuses on a combination of tax reforms and spending caps to boost economic growth.
Some highlights from the Pawlenty plan include:
-Cutting the corporate tax rate from 35% to 15%
-Replacing the individual tax system with two brackets to create a flatter and fairer tax structure
-Passing a balanced budget amendment that would cap spending at 18% of GDP
-Ratifying free trade agreements with South Korea, Colombia and Panama