(Atlantic) GOP Presidential hopeful Newt Gingrich’s campaign bus rolled into the Atlantic Bottling Plant to the tune "Only in America," and met a large crowd on New Year’s Eve. Gingrich flanked by his wife Callista, told the crowd that the most important area the American people need to focus on is the economy.
Gingrich says look at the world market, look at the dangers in the Middle East and look at the dangers in Europe."The fact is if we aren’t careful we could slide into a deeper recession and we could be in worse trouble by next summer. And the engine that pulls the world economy is the U.S. economy. So when we are stagnating it is almost impossible for the world economy to fix itself."
Gingrich says his focus is on jobs and quoted the late President Ronald Reagan’s economic playbook."If you take the Reagan recovery and lay it over our current population, it would create about 25-million new jobs in a 7-year period," stated Gingrich. "The dynamic was that big."
Gingrich says after Reagan left office there were two tax increases and the economy began to stagnate. So when Gingrich became speaker they adopted the Reagan playbook again and cut taxes, cut regulations, focused on American Energy, and reformed welfare sending 2-out-of-3 people back to work. They posted the first tax cut in 16-years including the largest capital gains tax cut in history and as a result unemployment dropped to 4.2-percent.
"Imagine how we would feel today if we were at 4.2-percent," said Gingrich. "When you have a big decline in unemployment, you take people off of food stamps, off of welfare, off of unemployment, off of public housing, off of Medicaid and people are back earning a living for their families, and paying taxes. So when revenue goes up costs go down."
"In the fall, if I am your candidate, one of our major themes will be food stamps versus paychecks," stated Gingrich. "And the fact that Obama is the best food stamp president in history, I would like to be the best paycheck president in history."
Gingrich added that if he is in the white house, the unemployed could only get unemployment compensation if they enrolled in a business training program.
"So the unemployed are actually learning something while the government is helping them. But we would no longer pay people for 99-weeks for doing nothing."
And finally Gingrich says he believes there should be no capital gains tax, 12.5-percent corporate tax, and 100-percent expensing. He would also adopt an optional 15-percent flat tax.
December 31, 2011