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The Massachusetts Moderate and his Tax Reshuffling Agenda

Press Release

By:
Date:
Location: Dubuque, IA

On the first stop of his Jobs and Growth bus tour of Iowa, Newt Gingrich drew a clear contrast between his plan to create jobs and grow the economy and Massachusetts Moderate Mitt Romney's timid attempts to reshuffle the tax code.

"With my 21st Century Contract with America, I stand in the Ronald Reagan tradition of dramatically lower tax rates, less regulations, more American energy and strong dollar monetary policies at the Federal Reserve to grow the economy and create jobs," said Gingrich.

"Governor Romney's plan is much more moderate -- it has higher tax rates, more regulation and maintains the status quo at the Federal Reserve," Gingrich continued.

Gingrich Jobs and Growth Plan vs. Moderate Mitt Tax Reshuffling

* Optional flat tax of 15% vs. Keeping tax rates the same
* Corporate income tax rate of 12.5% vs. Rate of 25% (higher than Canada's and our other global competitors)
* Zero Capital Gains vs. Status Quo for those making over $200K (who actually have significant capital to invest to create jobs.
* Zero Capital Gains on businesses vs. Status quo for businesses
* Strong dollar policies at Federal Reserve vs. Status quo at the Fed
* Optional Personal Social Security Accounts vs. Cut Benefits and Raise the Retirement Age

Gingrich also drew attention to instances in which Governor Romney said he would not challenge President Obama on taxes in a general election campaign by making the case for supply-side economic policies out of a fear that it would be a political liability.

During a recent tele-town hall with Tea Party Patriots, Mitt Romney said that lowering taxes on higher income earners would cause us to "get our head handed to us politically."

Gingrich concluded, "Margaret Thatcher had a rule: first you win the argument and then you win the vote. Unlike Governor Romney, I am ready to win the argument for dramatically lower taxes creating a dramatically bigger economy and tens of millions of new jobs."

Background:

Governor Romney quote from Tea Party Patriots Tele-Townhall:

"The people who have been hurt most in this Obama economy are middle income Americans and if we go out there and starting touting plans to drastically lower taxes for the very highest income people, not only will we get our head handed to us politically; we will as a nation find ourselves stalled in getting tax reform that is so badly needed."


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