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Forbes Media Chairman Steve Forbes on the Presidential election and the need to rein in government regulations.
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President Obama blasting Romney's tax plan has Robbin hood in reverse.
But the study is basing his claims on might just be a fairy tale itself.
With more on this Steve Forbes chairman and editor in chief of Forbes media Steve always terrific -- CEO going to be with -- -- about -- Romney -- comments that the president made referring to Romney's tax plan.
He's saying it's essentially just as stealing from the -- giving to their rich what do you say.
Well it's a nice very tell -- Romney people tell you.
And that is Romney's proposing a 20% across the board income tax rate cut and getting there -- some of the deductions for higher income people.
We've done this before we did -- major way in 1986.
Everyone got a tax cut.
Same thing in 1981 John Kennedy's tax cuts of 1964.
Bush tax cuts of 2003 everyone got to cut.
So what you have here's a situation where the critics are saying it can't work in theory even though it's worked in reality.
And so well I'm not sure I'm not strong basis.
Obama goes in could does calls from the -- these names.
Well I think here's the Tax Policy Center -- about their own review of this plan the when the president citing.
We -- not score governor Romney's plan -- -- We don't -- governor Romney's plan directly -- certain components of this -- -- not specified insufficient detail nor do we make assumptions regarding what those components might be.
So even spicy senator is saying.
-- we have a look at the I want more details from Romney I really don't feel like I understand how it is he's gonna fix this economy and put people back to work.
He's put some proposals out there but he's got to bring it together and this is where the convention's going to be his opportunity -- introduce himself to the American people.
-- have on our hour and a half on divided attention with tens of millions of voters he's got to put out there what is he gonna do on the tax side and why what's he gonna do on entitlements and why.
And do so with the kind of optimism don't come across as an accountant chief.
Come across as a leader in chief somebody's gonna do things make this economy -- John Kennedy -- get America moving again.
Reagan never depended running against Jimmy Carter on the people fact that people are dissatisfied with the Carter economy what he's doing -- foreign policy he had a positive vision.
And he brought it together and that's why he won the campaign.
That's an interesting point add before we came to -- you said that.
Romney needs to get around this idea of letting other people tell America -- we as he needs to tell America who -- is himself.
And turn the tables -- jujitsu in terms of his background on bank.
Say yes we save companies I start companies like Staples which took things a were once very expensive now affordable to every one.
Did we hit every time we went to the plate no.
But the overall record is good that's what America's about to take -- you don't always succeed but you make positive things happen I want that environment in the future for every one.
It didn't seem that hard I keep waiting to hear these kinds of words from M I -- -- read something that you wrote in Politico recently said.
Washington's war on the free market capital investment and financial services must end congress.
Must get out of the way.
It's congress and the president -- right in.
Yes on the regulatory side with what this president's doing tens of thousands of rules coming down the road -- -- people pulling back investments right now.
Because they don't know what the rules are -- hire somebody you have to pay a fine for health care or pay ten or 151000 you don't know she just hold back.
You know see we've seen gas prices go up.
The expectations for the economy especially jobs they're not rosy for the rest of the year we've seen GDP come down here a Smart business mind what do you -- for the balance of this year for the economy.
The economy will struggle assuming no Europe doesn't blow up which is always a bold assumption -- -- something doesn't give in the Middle East which could very well happen.
But less so but we're like that that car on the highway we're going 25 woman should be gone 75 we could go hundred of -- don't look at.
But that does bring up the question let's say Romney winds Derek you know lots of ideas both ways on capital let's say -- went.
Do you think that the Republicans can turn this economy around -- timer.
Should we be more realistic and realize hey it could take awhile if some of these rules were relaxed if different people were running the ship.
The key thing is if he's got a bold proposals Reagan in 1980 people know we're gonna may have to go maybe make some up changes that are -- to be easy to make.
But if -- people have us believe that good things are gonna come they're gonna say.
I'm make an investment for five years seven years down the road I gotta start now.
And if so the good vibes are absolutely critical markets try to anticipate the future.
I have not wait for itself where lives are good we're gonna start.
We recently as -- we get really isn't good vibes that's for sure Steve Forbes thanks for bring your good -- -- show appreciate it.
