For GOP, prosperity a tool for reducing reliance on government

"Prosperity provides the means by which individuals and families can maintain their independence from government, raise their children by their own values, practice their faith, and build communities of self-reliant neighbors."

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The theme of self-reliance runs throughout the platform, which touts this approach as far more preferable to the Obama administration's tendency to create more government safety nets.

"Our vision of an opportunity society stands in start contrast to the current Administration's policies that expand entitlements and guarantees, create new public programs, and provide expensive government bailouts," it says. "That road has created a culture of dependency, bloated government, and massive debt."

On the key question of how to boost job creation, the platform recommends tax simplification, reduced regulation and smaller government, not a "made-in-Washington package of subsidies and spending to create temporary or artificial jobs."

On taxes, it specifically recommends an extension of the Bush tax levels, reducing all marginal rates, ending the estate and alternative minimum taxes, and eliminating taxes on interest, dividends and capital gains for lower- and middle-income taxpayers.

It also rejects the use of the tax code for redistributing income, and takes a shot at the Washington parlance of treating some tax breaks as "tax expenditures," which it said is an "insidious term ... which means that any earnings the government allows a taxpayer to keep through a deduction, exemption, or credit are equivalent to spending the same amount on some program."

The document also fears that the monetary policies of the Federal Reserve threaten American prosperity, and gives a nod to a recommendation pushed by Rep. Ron Paul (R-Texas). Paul's attacks against the Fed led the House to pass a bill requiring a full audit of the Fed, including its monetary policy moves.

"The first step to increasing transparency and accountability is through an annual audit of the Federal Reserve's activities," it says. "Such an audit would need to be carefully implemented so that the Federal Reserve remains insulated from political pressures and so its decisions are based on sound economic principles and sound money rather than on political pressures for easy money and loose credit.

The platform takes a similar approach to energy policy, which, it argues, should be free of government decisions that pick preferred technologies.

"Unlike the current Administration, we will not pick winners and lowers in the energy marketplace. Instead, we will let the free market and the public's preferences determine the industry outcomes."

Elsewhere, the GOP seeks to boost economic opportunity through tougher engagement with China and any other country that seeks to undermine U.S. trade advantages.

"A Republican President will insist on full parity in trade with China and stand ready to impose countervailing duties if China fails to amend its currency policies," it says. "Commercial discrimination will be met in kind. Counterfeit goods will be aggressively kept out of the country."