In the 19th-century, the railroad was the most efficient way to travel across the country. And private rail cars were the equivalent of today's private planes.
It's probably no surprise that many presidential candidates – including Lincoln, Roosevelt and Truman used trains to campaign. And while these "whistle-stop tours" are now more a novelty than a necessity, one man hopes this political tradition continues.
John Paul Dejoria, an OutFront Strike Team member and the founder of Paul Mitchell and Patron Tequila, has purchased one of the most well-known private trains to help spread his political message.
He invited CNN's Erin Burnett to join him on board during his most recent stop at the Republican National Convention in Tampa, Florida.
The Urban-Brookings Tax Policy Center recently reported that Mitt Romney’s tax plan will raise taxes on 95% of America. But Romney has promised a 20% tax cut to everyone. Whose math adds up?
“It’s sort of like an Olympic boxing match today the Romney camp threw a punch fast and early, pointing out that one of the authors was a former aide to president Obama,” reports CNN’s Erin Burnett.
However, one of the other authors on the report was a former aide to George H.W. Bush, and the third author worked for both Bush and Obama.
The report says that if Mitt Romney’s plan becomes a reality, tax revenue because he’s going to be cutting marginal tax rates will drop by $360 billion in the first year alone. That means someone must pay $360 billion more if it’s “revenue neutral,” which is something Romney promised in February.
Romney’s economic advisor Columbia business school’s Dean Glenn Hubbard tells OutFront that the money will come from an economy that grows more quickly than it would under Barack Obama- specifically 4% a year under Mitt Romney, something it hasn’t done 2000. The tax policy center says it is not possible.
New York University’s Professor of Taxation Daniel Shaviro said, “There really is no conceivable way that GDP growth can make a significant short-term difference to the study’s finding.”
The bottom line? More details from Romney are a must.
Burnett also discussed Romney's tax plan with Stephen Moore of Wall St. Journal Editorial Board and Matt Bennett of the Third Way:
The June jobs report is out and it's not good. But is it all doom and gloom?
Daniel Gross the Economics Editor for Yahoo! Finance and Jim Bianco, President, Bianco Research come OutFront. FULL POST
CNN's Erin Burnett talks to billionaire John Paul DeJoria, the founder and CEO of Paul Mitchell and Patron Vodka about Dodd-Frank financial reform law and JPMorgan's multi-billion dollar trade losses.