Moderator: Spending cuts with tax increases?
Romney: U.S. Government consumes 37% of U.S. economy. The answer is to cut spending. Repatriate overseas dollars. My choice is not to cut defense or raise taxes. Rein in the scale of the federal government.
Bachmann: Let's not give Obama another blank check. We are spending 40% more than we take in. The answer is cutting spending. Who is going to get out of bed to go to work if they are paying 75% of their income in taxes?
9% Corporate 9% Income Tax 9% Sales Tax Issue:
Moderator: Analysis of your plan would only bring in just over 2 trillion dollars.
Cain: The analysis is wrong because it does not consider throwing out the current tax code.
Bachmann: 9-9-9 plan isn't a jobs plan, it is a tax plan. It could lead to a value added tax. Don't give Congress a new revenue stream.
Chinese Currency Manipulation Issue:
Huntsman: I don't want to find ourselves in a trade war. A trade war disadvantages our exporters. As far as the eye can see, it is the U.S. and China that will be on the world stage.
Romney: Chinese are smiling all the way to the bank. Why should we worry about a trade war with China when we already buy so much from them and they buy so little from us.
Perry: We are sitting on a treasure trove of energy resources in the U.S. We brought businesses back from China to Texas.
4 Billion Active Participants in Global Economy Issue:
Santorum: I don't want a trade war with China. Attacks Cain's 9-9-9 plan. Santorum does not give any specifics. Santorum never really answered the question, just attacked Cain and Romney.
Romney: We have to get rid of Obamacare. Romney moves off point like Santorum.
Romney Defends Bank Bailouts