Fox News
Expand
Browse All Video
Watch Live

You're watching...

Santorum: 9-9-9 Plan Isn't Effective

Details

  • Description

    2012 candidate on Herman Cain, economic growth

  • Duration 8:07
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

You or it's of the keystone state right now where given the choice between a government bailout are outright bankruptcy Pennsylvania State Capitol.

Is going with the bankruptcy option Republican presidents have got to Rick Santorum joins me now from Harrisburg -- senator always good to see you what do you think of what they're they're contemplating and in.

Harrisburg.

Lots of pretty dysfunctional situation with with the mayor and the council there and I know the the -- is has had tried to to work with them and and and try to help manage what is again a a dysfunctional situation with respect to the it to local government.

In a local government has decided to it is to skew any any kind of help and support and and try to manage this on their own and certainly what's in the best -- -- but.

Not particularly optimistic given the other caught him leadership that we see there all right but but -- you would be against the bankruptcy filing.

While I'm not and not against the bankers who found I just don't think that that the people who were involved in this in this process are are particularly competent in dealing with the problems that -- city of Harrisburg has otherwise obviously it would be in this situation.

Right the reason why somebody in the party find -- intriguing senators that X.

Obviously you you file for bankruptcy it negates all contracts workers conference pentagon all the rest.

And it might be tempting for other cities -- states to follow suit and other words -- they can't get the money.

Filing for bankruptcy -- so many corporations have and probably will continue to.

Is an option.

Yeah well it certainly is an option I obviously creates a a very difficult climb to come back out in an -- and and their their ability to go forward and and two to get people to contract with -- met with given that that that historical precedent is gonna make it difficult for them to to come back but.

What what we've seen is say.

As a political dynamic here that is that is not been beneficial to the people Harrisburg let's just put that -- it is a little.

Excellence and we write about that among us would -- a little bit you have been sort of upping the ante a little bit against Herman Cain who is -- -- As the front runner.

Depending on the poll you look at for the Republican nomination this is one of a couple of days ago I I wanna get you to follow up on this.

We need to do that.

With the agenda that I outlined which unlike fuhrman's plant which could not pass because -- how people here for a sales tax in New Hampshire.

Raise your hand there you go Hartman and that's happening votes -- New Hampshire.

You were going against -- brigades 999 plan which would include a 9% ourselves taxable and also 9% income tax -- 9%.

Corporate tax but you're saying -- it will won't fly -- What won't fly because first of -- -- sales tax and you're giving.

-- giving children alike Harry Reid and Nancy Pelosi guns by which to turn around and and use them against the American public -- of new tax.

I don't know -- a single Republican is gonna vote to give.

A new national sales tax to the to the federal government it's one of the worst most insidious taxes.

That's out there number one number two.

His corporate taxes really value added tax so in a sense were really -- and 18%.

-- sales tax that is being imposed by.

By invite Herman -- the regressive any of that tax.

Will -- no support among Democrats because you're gonna see taxes go up among those who are Lauren and -- -- the working class and was America gonna pay a lot more taxes.

Under under this 999 -- plus.

It doesn't wash and it doesn't it doesn't raise the money that that is being suggested -- It it it it has no senses -- no exclusions it is a very regressive tax it's attacks it has knows no chance attacks as bold.

I can pick -- any any kind of plan out of the -- and say it's bold but it has to be has the effect it has to actually be good for the economy eliminates that the mortgage deductions eliminates the deduction.

-- the -- all right sir senator are so low.

Of that it's also -- -- concerns about your and you're quite right and you know with sales tax in general level.

A lot of your colleagues -- former colleagues would would relish the opportunity to increase it.

But that it is a dramatically different from what you or your colleagues are talking about and it would be an entirely new set -- -- and a new way of going about what is a very flawed.

Very broken tax system.

I agree I just don't think it's the right approach and not but it'll look I I I'm gonna I'm gonna put forward as I did a plan.

That that focuses and I I I caught it and and sort of suggest in responding to -- is -- the 000.

Plan.

Which focuses in on the area of the economy that we suffered the most job loss in and that's here at some manufacturing we've got 121% employment and manufacturing.

Down -- 9% of the public employed in manufacturing.

And those jobs have been and then shipped off season -- overseas.

And -- I believe we can get them back if we allow America to be competitive.

With all of those countries and the one thing we can look at me -- Argue it -- obviously some voters are responding to an employee a look at and one a lot of your ideas and certainly sound resident with some people in these latest polls apparently not enough.

That that.

He is saying that this is a way to get us off the economic map view this -- Great.

Yeah I I'd absolutely disagree and and this is not and it's not an economic -- it's I mean it's a revision of the tax code at that that.

Dramatically shifts the tax burden to working Americans away from.

Higher income people and it will not stay there I mean and I one of the other questions I asked to New Hampshire was how many people think the income tax rates gonna stay at 9%.

I mean he's not gonna be president forever I mean they this is a this is apple would you like yeah.

Curtis started at a lower levels senator than the high level we have now it's a lot easier you're quite right for taxes ago lot.

But I'd much rather be in a position of of having them try to move up from a much lower level when there are now.

No I I wouldn't if you're giving them the ability of the government -- -- you coming and going they're gonna tax your income and your purchasing.

Where is now they can only -- your income so even those who are for value added tax or fair tax.

10 eliminate the income tax and replace it with one not give the government the chance to get to -- detection both ways.

Now that people understand how much this will create an ability for government which is very little tweaks to take a lot more of your money.

Particularly from working -- from -- from working families in this country.

Do you worry though that -- regardless Revere of hurricanes planners of your other colleagues planned -- That Republicans are tripping over themselves as to who could cut taxes the most and at the very least you have to be revenue neutral the outset.

And that what Republicans are risking and may -- serving on a silver platter for the president even though the -- might -- -- Is is is.

A potential for deficits.

To get much worse at least in the near term until whatever -- you get on this.

-- -- Yeah well that's why I look that the plan that I put forward is not a quote bold plan in the sense that it's gonna dramatically reduce revenues which.

Again according to this the study's been done on -- plan will dramatically reduce revenues.

And put us in a much -- deficit situation which were cuts were.

Would which will be of obviously a a boon to present Obama to be able to run against.

We have a very focused plan that focuses on creating manufacturing jobs in this country by cutting the corporate tax on manufacturers and processors.

From 35% to zero.

But think of all the new manufacturing jobs are gonna come back one of the other things we do the other 0000.

Plan.

This is you're out the court that -- excise tax.

On corporate profits made on overseas operations one point two trillion dollars city overseas they can come back -- invested implant equipment in this country.

You'll pay no taxes on so that throwing over the final 00 it out all of the presence regulations.

That exceeded a cost of business of over a hundred million dollars during his time.

That will unleash the regulatory burden that that has been put on businesses so with the regulatory burden capital availability and it profit motive with no corporate tax you've created an atmosphere for the most important.

Multiplier effect the section of the economy to grow and and allow for income mobility which is a great way to go out and sell this plan and Ohio Michigan and Indiana Pennsylvania and the -- all right senator we shall see very ritzy union do well.

Thanks okay now -- at central.

Load More