In a preview of what is being billed as a major economic speech in Detroit later this week, Mitt Romney doubled down on his economic proposals Wednesday.

Standing before a large and boisterous crowd in Chandler, Ariz., Romney promised to make the tax system "simpler, flatter, and fairer," by reducing individual rates by 20 percent across the board. If implemented, the top rate would drop from 35 percent to 28 percent, the same top rate Americans paid under President Reagan in 1986.

To prevent an increase in the federal deficit by lower tax receipts, Romney said he would limit deductions and exemptions for higher-income brackets, saving the burden from falling on the middle class.

"I want to make sure that you understand for middle-income families, the deductibility of home mortgage interest and charitable contributions -- those things will continue," Romney said to loud cheers. "But for high-income folks, we're going to cut back on that, so that we make sure the top 1 percent keeps paying the current share they're paying or more. We want middle-income Americans to be the place we focus our help, because it's middle-income Americans that have been hurt by this Obama economy." (read more)

Hawaii has always been an attractive location when it comes to movie and TV shoots, paradise for locals and tourists, but a shortage of tax credits has made it financially more appealing to shoot elsewhere.

Two major entertainment companies, Relativity Media LLC and Shangri-La Industries, are trying to change that. And now they have a powerful political ally: Former President Bill Clinton, who added testimony to a bill that would drastically increase tax incentives for those choosing to shoot there.

Clinton, who is on Shangri-La's advisory board, wrote, "The Shangri-La/Relativity commitment to build the most environmentally friendly stages in existence, coupled with the economic benefits of this bill and Hawaii's timeless appeal, will make Hawaii the most attractive place in the world to shoot a film."

Shangri-La founder Steve Bing and the former president have known each other since at least 2002, and it's an understatement to say that they share common interests. Bing donated between $10 million and $25 million to the Clinton Foundation, an organization interested in climate change, among other initiatives.

Beyond his financial connection to Bing, Clinton may have a more favorable view of the industry in general, having recently filmed a cameo for the upcoming film The Hangover: Part II. (read more)