July 26 (Bloomberg) -- The U.S. election of 2012, we
assume, is a nation-defining moment.
If we re-elect President Barack Obama, we will be endorsing
a more progressive government with more social insurance, higher
tax rates at least on the wealthy and more regulation. If we
elect Mitt Romney, we will be returning to our post-Ronald
Reagan norm of embracing low taxes, economic freedom and
widespread economic disparities.
