December Debate - Part 1

ABC’s December 10, 2011 debate, in regard to jobs, Gingrich said it starts very simply with lower taxes, less regulations, and an American energy plan. He’d start with zero capital gains, 12.5% corporate tax, 100% expensing for new equipment (right it off in one year instead of over 5), and permanently abolish the death (inheritance) tax. Romney said the 7 things he would do are: 1 - make employer tax rates competitive with other countries (the US is the highest), 2 – get regulators and regulations to not burden private enterprise but to encourage it, 3 – make trade agreements that make sense for America not just those it’s trading with, 4 – take advantage of the energy resources we have here, 5 – use the rule of law (this is plainly that every citizen is subject to the law; he said Boeing and the LRB violated that - this doesn’t make sense to me because they don’t prosecute themselves), 6 – have great institutions to create human capital and 7 – a government that doesn’t spend more than it takes in. Ron Paul said - less taxes and regulations as financial bubbles are created by extensive credit and stimulation by the Federal Reserve – we need to liquidate the debt. Perry said put in a 20% flat tax and get rid of the regulatory burden that’s killing people, he says there’s a big line between Washington and Wall Street - we need to stop the corruption and balance the budget. Bachmann (who was a tax attorney) said – get rid of the current tax code, lower taxes and use a pro growth policy, everyone should pay something (said 47% of the people pay nothing); legalize American energy, cut Obama care, and eliminate Dodd-Frank and the EPA. Santorum said we need to revitalize manufacturing (was 21%, now 9%), proposes a zero tax for manufacturers and repeal of regulations that are crippling them (create a litigation process that works), lower electricity rates, and have oil and gas drilling.

In regard to the payroll tax cut, Bachmann said she doesn’t support it, it takes money out of the Social Security Trust Fund and we’ll have to go to the General Fund and there is no money. Perry and Santorum are also against it. Gingrich, Romney (even though it’s a band-aid) and Ron Paul (cut funds from overseas to pay for it) are all for extending the tax credit. Newt pointed out that entry level janitors in New York get paid more than entry level teachers. I believe this is true and it’s part of the reason I have a problem with labor unions.

In regard to health care, (Romney’s Massachusetts (MA) plan and Perry’s shots for 12 year old girls to avoid sexually transmitted disease were brought up. Romney said the states need to decide health care, not the feds, he’ll strike down Obama care and in MA their medical other than Medicare and Medicaid is all private. Gingrich said he’s been working on health care since 1974 and that we now know that individual mandates are unconstitutional and wrong. He said Perry pointed out that there’s a 10^th amendment barrier (Powers not delegated to US nor prohibited to the states by the Constitution are reserved to the states or to the people). He doesn’t want a federal mandate as it would mean the feds could impose on what is purchased and it could lead to other things being imposed at a federal level. He also agreed with Santorum that people need to be more involved in their own health care. Gingrich said we need to completely look at our system; there are problems with the third party payment. Diane Sawyer said she was talking with the Iowa pharmacists and they said the biggest problem is people’s bad habits and obesity. Diane asked Ron Paul about this and he disagreed that we should have a government that protects the people against themselves, you have no choice in paying funds for Medicare and Obama care takes this further, he said once the government uses force it violates our concept of our revolution and the Constitution. Perry agreed that it’s not a federal issue but a state issue; people are sick of Washington DC, sick of the money spent, the fraud and corruption and he wants a part-time Congress.

There were discussions about fidelity and the only thing I heard of value came from Ron Paul. He said the Oath of Office needs to be taken seriously; more than fidelity.