I still cannot understand how so many Americans could elect a president who was the outsourcer in chief at Bain and stashed so much loot in overseas tax havens. He was not investing the profits to create American jobs with all of his offshore and outsourcing investments. Obama would never have come close to become President if he had been the one with so much tax evasion and so little economic patriotism

it. If it is legal, then you should not begrudge how someone makes a buck. He was a little taken aback when I described the Delphi looting of the Treasury by one of Romney's investments though.

board. Not all the changes in the economy can be laid at the feet of the tax reductions. Globalization was beginning and continues today. Combine that with a liberal immigration policy that also serves to drive down employee negotiating power.

My view is that from an ideal growth and revenue standpoint, the top marginal tax rate should be somewhere around 40% (like it was under Clinton). The very wealthy may elect to stay U.S. citizens at a 90% marginal rate, but those who earn income and trying to build wealth are going to find alternatives. My daughter is currently working on a paper about push factors for emmigration, and the tax structure is one of them. Brain drain is currently going on in the U.K., and we are trying to model our country more on their model. Does Hollywood have to stay the model for high salaries? Could a low cost country also produce movies and offer citizenship to Hollywood actors? Moving Wall Street to the Carribean would be easy. Many elective surgeries can be done offshore in lower tax countries (this tourism already exists in India).

Where Romney screwed up and lost my vote (if I was ever going to vote for him) was to take historically low tax rates and say he was going to reduce them another 20%. This was insane and even in violation of the Laffer Curver. We are definitely sitting on the other side of the hump right now. I think Obama's proposal to push us closer to the hump (where ever that might be) is prudent and will go a long way towards helping the deficit. I think this, combined with a removal of the Social Security cap at a 2% lower withholding rate, should be two things from a revenue perspective that should be done. Closing the loopholes should be the next move, and it should be done aggressively.

On spending we need to reduce defense spending to reflect what is spent by our allies. We need to improve how healthcare spending is done (single payer will go a long way towards this). Finally we need a trade policy that keeps a strong key on jobs in this country.