In preparation for the South Carolina Republican primary, the candidates have talked about what they plan to do for the economy if they agree or not with the calls in Washington for a short-term stimulus.
Senator John McCain of Arizona resisted a short-term stimulus. However, he had revealed a long-term economic plan designed to lower the corporate income tax rate along with providing tax breaks for businesses. “We will get through this rough patch, my friends,” McCain had said to his supporters.
He proposed cutting the corporate tax from 35 to 25 percent. McCain said that this should expand the economy which will create jobs and opportunity. To him, the plan would promote growth along with less taxes and less spending while contrasting it with the Democrats’ ideas of taxing and spending.
Fred Thompson said it is best to leave the economy alone for now.
He said: “We’ve had a good run, but we can’t take growth for granted.” Thompson said that doing nothing might make the economy stronger.
Mitt Romney said that he would have his own plan soon enough.