Tuesday, October 11, 2011

Republican Presidential Economic Debate Highlights Part II

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

Republican Presidential Economic Debate Highlights Part I

Republican Presidential Economic Debate Highlight Part III

Republican Presidential Economic Debate Highlights Part IV

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