(Romney dropped out of the Republican presidential contest on Feb. 7, 2008, following disappointing results in the Feb. 5 Super Tuesday primary contests.)
Romney understands that the current tax structure may not be perfect, but he does not think that throwing it out in exchange for the fair tax system that some of his opponents have discussed is sound policy. Instead, Romney proposes that the government is spending too much and believes that changing this is key to tax reform. The tool in which Romney plans to execute this with is the line-item veto - something in which he and Rudy Giuliani disagree. He is in favor of eliminating the tax on personal savings in order to encourage more Americans to put money away, cutting the estate tax and making the Bush tax cuts permanent. His campaign, which has been filled with "no tax increase" promises, has been challenged by some Massachusetts businesses, which say that Romney raised taxes in Massachusetts as governor. Romney's camp called these accusations not wholly true, stating that the changes he made in the Massachusetts tax structure were closing tax loopholes and "enforcing" tax law more than they were raising taxes. Still, Romney was the first Republican to sign the pledge not to increase taxes. At the end of an interview with U.S. News & World Report, Romney emphasized what his plan is to keep America's economy on its current path, "Keep our taxes down and our spending down...Deregulate, deregulate, deregulate."
Romney's campaign Web site: Read more about Romney's plan to curb federal spending.
YouTube Video: Romney addresses the differences between himself and his Republican opponent, Giuliani's tax platform.
YouTube Video: Romney contrasts Democrats' tax platforms with his own tax platform.
YouTube Video: Romney speaks with Neil Cavuto about his pledge not to raise taxes as president.
— Las Vegas Sun new media intern Jenna Kohler compiled this report.