Search Form
First, enter a politician or zip code
Now, choose a category

Public Statements

CNBC Video - Gingrich: Balance Budget by Cutting Taxes and Government

News Article

By:
Date:
Location: Unknown

"A Newt Gingrich presidency would see sweeping tax cuts, 'very serious deregulation'and stringent limits on unemployment benefits after four weeks, the outspoken conservative told CNBC.

As part of a five-point plan, the former House leader said he would eliminate the National Labor Relations Board, replace the Environmental Protection Agency and repeal the national health care plan, often called ObamaCare.

He said he would cut regulations on financial institutions, including eliminating the Sarbanes-Oxley law that governs accounting practices of publicly traded companies.

Amid all the tax-cutting and agency consolidations would come a return to a fiscal policy that he said emanates "directly from the Reagan playbook."

'I think these kinds of steps would move us toward a very dramatic job growth, which is the best way to move towards a balanced budget--by getting people off of unemployment, off of Medicaid, off of food stamps, get them back into earning a living and paying taxes,' he said.

Gingrich's plan involves five tenets: no tax increases in 2013; eliminating the capital gains tax; allowing companies to deduct capital expenses fully; reducing the corporate tax rate to Ireland's rate of 12.5 percent; and abolishing the death tax.

Despite needing to plug a budget deficit approaching $1.5 trillion and a national debt 10 times that level, the Georgian firebrand said his plan would generate revenue through growth, not taxation.

'Washington would like to raise taxes because Washington would like to spend more money,' he said. 'The American people know this country is not undertaxed, this country is overspent.'"

The full article:http://www.cnbc.com/id/43149295


Source:
Skip to top

Help us stay free for all your Fellow Americans

Just $5 from everyone reading this would do it.

Thank You!

You are about to be redirected to a secure checkout page.

Please note:

The total order amount will read $0.01. This is a card processor fee. Please know that a recurring donation of the amount and frequency that you selected will be processed and initiated tomorrow. You may see a one-time charge of $0.01 on your statement.

Continue to secure page »

Back to top