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By: Paul Kennedy

On Friday October 13 at a rally in Raleigh, North Carolina, Republican presidential candidate Mitt Romney said, “We’re not going to just change our tax burden. We’re going to change our economic tax burden.” In the same speech, Romney continued to portray himself as a “champion for businesses.” As I’ve noted before, Mitt Romney’s tax plan would do nothing for the middle class or the economy while redistributing wealth upward at the expense of people like me.

The same could be said about many of the candidates in this year’s race for the White House. The most well-known and prominent Republican candidates have been trying for years to reform government spending and entitlement programs, while simultaneously rejiggering the tax code so that they more directly affect the wealthy and corporations.

One such candidate has been Mitt Romney. I first came across the former Bain Capital executive in the spring of 2006, when he held a press conference at which he stated that he was going to “end Medicare as we know it.” Shortly thereafter, when Romney was trying to gain the trust of voters, he came out in support of repealing the landmark health insurance law of the 1990s. This was an important issue for Romney, as he was trying to appeal to the business community and GOP primary voters.

The issue is more relevant today than ever. In 2009, the Congressional Budget Office estimated that Obamacare would increase the deficit by $940 billion by 2016. In 2012, the C.B.O. predicted that, if all of Obama’s major legislative policies were enacted, this would result in a cumulative fiscal deficit of $1.4 trillion by 2016. If these projections are correct, we’re looking at the largest budget deficit since the Great Depression, with $1.3 trillion in spending increases and $2 trillion in tax hikes alone.

One of the most controversial provisions of Obamacare, and one that Romney supports, is the Medicare prescription drug coverage provision. According to Romney himself, the drug benefit has already cut prescription drug prices by $2 billion for seniors. According to a report from the nonpartisan Congressional Budget Office, the savings would not be significant if it weren’t for the fact that seniors would be forced to pay

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