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Newt to Obama: I Got Your Jobs Summit Right Here, Sparky

I’ve made it clear that when it comes to “the Base vs. Newt Gingrich,” I’m clearly on the side of the former Speaker. Did I disagree with his endorsement in the NY-23? Yes. Am I happy that he’s hanging with Al Sharpton? No, but I consider that penance for conservatives not being more vocal when it comes to education reform. At the end of the day, Newt Gingrich has things called “intelligent ideas” and “policy prescriptions” while most of his more vocal critics sit in their parent’s basement eating Cheetos and twittering about how he’s such a RINO. #beck #912

And that was on display this week. While President Obama had his “jobs” summit where he invited his employers in the unions, professors, and CEO’s who have supported him, Newt Gingrich with his “American Solutions” held their own jobs summit the day before, providing some of those conservative alternatives people like to claim we don’t have.

Some snippets

Based on what he has heard from small business leaders there and across America, Gingrich has proposed his own jobs plan. While Gingrich was Speaker of the House, federal spending growth was at its lowest level since the 1920s. Gingrich says, “We can apply the same principles that worked then to create jobs and four straight balanced budgets through smaller government, less spending, lower interest rates, and less debt…”

America suffers from the second highest business tax rate in the industrialized world, with a federal rate of 35% and states pushing it close to 40%. By contrast, the average corporate tax rate in the European Union has been slashed from 38% in 1996 to 24% today. Ireland has a corporate tax rate of 12.5%, which has led per capita income to soar from the second lowest in the EU 20 years ago to the second highest today. Our own Treasury Department has said Ireland raises more corporate tax revenue as a percent of GDP than we do with our much higher rates. Corporate tax rates in India and China, our emerging competitors for the future, are lower as well. Gingrich would reduce the federal business tax rate to Ireland’s 12.5%…

Gingrich also favors following the 50% payroll tax cut with a permanent personal account option for that portion of payroll taxes for younger workers, with the personal accounts substituting for an equivalent portion of future retirement benefits. Given historical capital market returns, workers should get much higher benefits as a result than Social Security even promises today, let alone what it can pay, with a continuing safety net guaranteeing that workers would get at least as much as Social Security currently promises them. This would provide a continuing gusher of new savings for capital investment, resulting in more jobs and higher wages.

If people – and I’m talking my fellow conservative here – want to criticize because Gingrich has had an opinion or made a decision that they disagreed with and want to write him off because of that…hey, whatever makes you feel good aboot yourself. I’m more concerned with serious issue n’ stuff.

As for President Hopeandchange’s jobs summit…

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more about “Jon Stewart on the Jobs Summit Video“, posted with vodpod
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One response to “Newt to Obama: I Got Your Jobs Summit Right Here, Sparky

  1. Oh dayum! Gingrich just saved me a lot of policy research for NFN next year. Lol. 🙂 Dammit we need a ’94-style revolution already!

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