Romney Campaign Press Release - Prof. Gary Wolfram: Romney Pledged to Repeal Regulations that Hinder the Entrepreneurial Spirit

"Consequently, Romney pledged to repeal Obamacare, Dodd-Frank, and limit the regulations that are strangling our entrepreneurial spirit. Then he went around the table asking us what one thing he could do to help the business climate if he were president. I suggested that he use the bully pulpit to restore the 10th amendment and remarked that he used his veto pen 800 times while governor of Massachusetts." — Prof. Gary Wolfram

"Wolfram: My Panel With Romney"

Detroit News

Gary Wolfram

February 16, 2012

www.detnews.com

This week I had the opportunity to be part of a panel discussion in Grand Rapids with Mitt Romney. It was an enlightening experience.

In his opening remarks Governor Romney brought up one of my favorite topics—"regime uncertainty."

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Governor Romney said the Obama Administration has created the same uncertainty. Employers don't know what their employee health care costs will be, or how their electricity costs are going to be effected by the EPA, or what their tax liability will be. And they are burdened by massive financial regulation (2300 pages of Dodd-Frank) that has restricted their ability to get credit.

This observation alone is probably worth voting for Mitt Romney.

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Consequently, Romney pledged to repeal Obamacare, Dodd-Frank, and limit the regulations that are strangling our entrepreneurial spirit.

Then he went around the table asking us what one thing he could do to help the business climate if he were president. I suggested that he use the bully pulpit to restore the 10th amendment and remarked that he used his veto pen 800 times while governor of Massachusetts.

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Governor Romney responded with a discussion of the importance of the 10th amendment, which states that the federal government only has enumerated powers - and that all other powers are retained by the states or the people.

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I gave him an A.

Finally, I was impressed by Romney's recognition that the Solyndra scandal was not just a waste of taxpayer money, but actually set back the development of solar power. By giving $535 million in taxpayer money to one company, the Obama administration has reduced the pool of investment that would have been available to several startups.

In all, Romney demonstrated an understanding that:

- federal powers must be limited

- that the states are the basis for governance in a federalist system

- that government actions often create unintended consequences

- and that people respond to incentives so reducing taxes on the wealthy is not about the currently wealthy - but about encouraging innovation by those who are not wealthy but will become wealthy by producing things we all will enjoy.

We need not ask anything more from a president.