By Lisa Lerer on May 07, 2012
Some of the choices are also driven by politics, a person close to the campaign said. Romney limited his proposed elimination of capital gains taxes to incomes up to $200,000. Some of his advisers think the ceiling is too low. In a primary debate last year in Orlando, Florida, Romney said the tax break is aimed at the middle class.
A number of advisers disagree with Romney’s vow to take a harder line on China with policies that go further than either Obama or Bush in confronting the country’s trade practices. Romney has said he would label China a “currency manipulator”on the first day of his presidency and impose new tariffs.
Fixing Housing Market
On housing, Mankiw and Hubbard have called for the Federal Reserve to ease monetary policies and reduce interest rates to strengthen the market. Romney has said the government should stay out of the issue and let the market “hit bottom.”
Hubbard said he wouldn’t comment on personal conversations with Romney. Mankiw didn’t respond to interview requests.
Romney also consults a network of associates in the business world. Former Sun Microsystems Inc. CEO Scott McNealy, Hewlett-Packard President and CEO Meg Whitman, and Puzder, whose company owns the Carl’s Jr. and Hardee’s fast-food chains, all wrote sections of Romney’s jobs plan.
“Sometimes business people see things happening faster than economists do,” said Hubbard.
Hubbard briefs Romney every few weeks or when the candidate has a specific concern, he said. The candidate typically arrives well-read and ready to quiz the team on their latest proposals.