Romney Campaign Press Release - Larry Kudlow: "Mitt Romney Gets the Supply-Side Approach"

"Ronald Reagan understood this when he famously told people that he quit working as an actor because he only made about 10 cents on the extra dollar earned from the extra movie. Mitt Romney seems to understand this incentive model."

"Mitt Gets The Supply-Side Approach"

National Review

By Larry Kudlow

February 24, 2012

http://www.nationalreview.com

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Contrast that with Mitt Romney's tax-policy speech today at the Detroit Economic Club, where he touted his new across-the board 20 percent reduction in personal tax rates. The language is crucial: "By reducing the tax on the next dollar of income earned by all taxpayers, we will encourage hard work, risk-taking, and productivity by allowing Americans to keep more of what they earn."

This is supply-side language. It is incentive language.

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Ronald Reagan understood this when he famously told people that he quit working as an actor because he only made about 10 cents on the extra dollar earned from the extra movie. Mitt Romney seems to understand this incentive model.

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I will have more to say on the Romney plan overall, and about how it contrasts hugely with Obama's massive tax-rate hikes. But for now I am satisfied that Mitt gets the supply-side approach.