Despite his temporary lapse into reality-based thinking when asked about Ryan's Medicare plan, underneath Gingrich is just as radical as almost anyone else in the GOP.
Gingrich: Balance Budget by Cutting Taxes and GovernmentIreland's low corporate tax rate did nothing to prevent its financial collapse and to suggest deregulation in the aftermath of The Great Bankster Recession is almost psychotic.
Published: Tuesday, 24 May 2011 | 9:01 AM ET
By: Jeff Cox
CNBC.com Staff Writer
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."
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.
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