On Jan. 21, 2013, either a re-elected President Barack Obama or a newly elected President Mitt Romney will be celebrating his Inauguration. In either case, as the champagne corks pop, this much is certain: He’ll have plenty of problems.
The economy, of course, will be troubled. Even if there are signs of an upturn in early 2013—and there may well not be—this will be occurring against a backdrop of longstanding poor growth and high unemployment. Much improvement will be needed over recent baselines to create a widespread sense of recovery, let alone prosperity.I go on to advise scrapping the income tax and payroll tax in favor of an X tax and carbon tax (call it the X+C plan). Whole thing here.
UPDATE: Some notice here. See also here and here.