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Special Report
Newt’s Economic Recovery Plan
This isn’t just campaign rhetoric.
Last Friday I attended the speech by Newt Gingrich at Art Laffer’s annual Investor Conference in Washington, D.C., where Gingrich unveiled his own economic recovery program. This wasn’t just campaign rhetoric. The speech was specific, detailed, and comprehensive.
Laffer himself, who was central to defining the economic policies that produced the 25-year Reagan economic boom, said regarding Gingrich’s economic plan, “The combination of pro-growth tax reform, spending restraint, and sound money will restore robust economic growth with low unemployment and low inflation.” Moreover, Laffer added, given the dramatic reductions in tax rates as discussed below, “in due course, the plan should be surprisingly inexpensive from the standpoint of lost revenues given the powerful effect it will have on the future growth path of the United States economy.”
The Coming Crash of 2013
President Obama has gotten away so thoroughly with driving the narrative and defining the debate that too many have overlooked what he has already set in store for the American economy in 2013. Already scheduled in current law for that year is the expiration of the 2001 and 2003 tax cuts, which Mr. Obama has refused to renew for single workers making over $200,000 a year, and couples making over $250,000, disparaging them as “millionaires and billionaires.” Also scheduled to go into effect in 2013 under current law are all the tax increases of Obamacare. Together, these job killing tax policies would result in a sharp increase in the tax rates on the nation’s small businesses, job creators, and investors for virtually every major federal tax.
The top income tax rate would increase by nearly 20%, counting the slashed income tax deductions Mr. Obama already proposed in his February budget. The capital gains tax rate would increase by nearly 60%, counting the new Obamacare taxes on investment income. The total tax rate on corporate dividends would increase by three times altogether. The Medicare payroll tax rate would also increase by 62% for these taxpayers. The death tax would rise from the grave with its original 55% top rate.
Unless reversed, these economic policies threaten to be the coming crash of 2013. That is why Gingrich first proposes repealing all of these tax increases, including Obamacare in its entirety.
But to produce robust economic growth, he proposes to go well beyond that. He proposes to abolish the capital gains tax altogether, which is just an additional layer of taxation on capital income, in addition to the individual income tax, the corporate income tax, and the death tax. That is why fourteen out of thirty OECD countries, plus China, Taiwan, Hong Kong, Singapore and others, already enjoy zero capital gains taxes.
Gingrich proposed as well corporate tax reform that would reduce the federal corporate tax rate to 12.5%. America today suffers from virtually the highest corporate tax rate in the industrialized world, with a federal rate of 35%, and the states pushing it to close to 40% on average. Yet, much of the rest of the world, ironically, has learned the lessons of Reaganomics. The average corporate tax rate in the European Union has been slashed from 38% in 1996 to 24% today. Canada’s rate has been cut to 16%, scheduled to decline to 15% next year, with the ruling Conservative Party recently rewarded with a strong majority of its own in new elections. Lower corporate tax rates prevail among our major competitors in Germany, China and India as well. With a corporate tax rate of 12.5% first adopted in 1988, Ireland enjoyed a soaring increase in per capita income from the second lowest in the EU to the second highest. Our own Treasury Department published a study showing that Ireland raises more corporate tax revenue as a percent of GDP with that 12.5% rate than we do with our much higher rate. How are American companies supposed to compete in the global marketplace with such a disadvantage?
Gingrich’s plan also provides for 100% expensing of investment in new equipment so American workers can work with the most technologically advanced tools in the most advanced factories in the world. Gingrich proposes as well to end permanently the death tax and its double taxation of the lifetime savings of Americans.
Finally, Gingrich proposes an optional flat tax of 15%. That means that taxpayers would be free to choose to file their taxes under the current system with all of its complexity, or the new reformed alternative system, where their taxes could be filed on a postcard, saving hundreds of billions in unnecessary costs each year.
Beyond Taxes
But the Gingrich plan goes beyond tax policy. He would reverse the fundamental Bush blunder of a cheap dollar policy, which pumped up the housing bubble with loose monetary policy. That blunder has been multiplied many times over under Obama, just as Obama has done with everything that Bush did wrong. Gingrich proposes instead to return to the Reagan-era, stable dollar monetary policies that halted the runaway inflation of the 1970s, never to be heard from again, until recently. He also proposes fundamental Fed reform to provide for transparency of all Fed activities, and permanently end bailout abuses.
Another major component of the plan is deregulation. Gingrich proposes to outright repeal Sarbanes-Oxley, which only adds unnecessary costs that have deterred job-creating investment in the United States and undermined the international competitiveness of America’s financial industry. He proposes to repeal as well the Community Reinvestment Act, which was abused to help cause the financial crisis. He called as well for breaking up Fannie Mae and Freddie Mac, and moving their smaller successors off government guarantees and into the free market.
Underlining his opposition to any cap and trade policies, Gingrich proposed to replace the Environmental Protection Agency with an Environmental Solutions Agency. That is to achieve a fundamental change in environmental policies from anti-growth confrontation with industry to collaboration with job creators to achieve better overall results. He also proposes to modernize the Food and Drug Administration, recognizing the need to get lifesaving medicines and technologies to patients faster, and to remove cost barriers to their rapid development.
Deregulation is also central to the American energy policy Gingrich also advocated. Even at the height of Obamamania in the summer and fall of 2008, Gingrich’s “Drill Here, Drill Now, Pay Less” campaign was instrumental in leading then President Bush to rescind the Executive Order banning offshore drilling, and Congress to let the statutory offshore drilling ban expire. Gingrich last Friday called for freeing the energy industry to maximize production of all forms of American energy, from oil to natural gas to clean coal to nuclear power to all forms of alternative fuels. That would assure the reliable supply of low cost energy essential to fueling a booming economy.
About the Author
Peter Ferrara is Director of Entitlement and Budget Policy at the Heartland Institute, General Counsel of the American Civil Rights Union, Senior Fellow at the National Center for Policy Analysis, and Senior Policy Advisor on Entitlements and Budget Policy at the National Tax Limitation Foundation. He served in the White House Office of Policy Development under President Reagan, and as Associate Deputy Attorney General of the United States under President George H.W. Bush.
Letter to the Editor View all comments (96) | Leave a comment
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Dee See| 5.18.11 @ 6:14AM
OF course it's now FACT that some 80%
of the Amerian public think step one should
be auditing, investigating, dismanlting and
prosecuting the ILLEGAL 'Federal' Reserve.
But on second thought, the first act might
be clearing the political landscape of one and
all who had any hand, and part, anything at
all to do with our just rounding off 4 decades
of eco-sellout, set-up and TREASON viz a
viz globalist RED China.
---------------NEWT was there! a prime
presiding figure during the very height of
Clinton-Bush sellout.
WHAT MORE DO WE NEED TO KNOW?
SonOfSam| 5.18.11 @ 8:17AM
Dee See,
I think there are MANY other things we need to know. I'm glad we have already found out that apparently Gingrich would be in direct opposition to a prominent - and deeply thoughtful -- member of his own party, namely, Paul Ryan. For all of Newt's alleged qualities as a fountainhead of ideas, he seems to LACK the talent for recognizing good ideas from others.
SpiralArchitect| 5.18.11 @ 12:54PM
You pull that 80% number out of your hat?
Likely 80% of Americans do not know what the FED is nor do they care.
Many things are illegal from the POTUS ( and how he simply does what he pleases w/o any authorization) on down.
Yes, the FED is a big evil tyrannical bilking behemoth that need be eliminated. Either way your 80% claim is bunk.
Patrick| 5.19.11 @ 4:24AM
Newt is a crass opportunist and a whore to Al Gore's ethanol mandate.
He's as big a RINO as McCain, with none of the integrity.
Kenny| 5.18.11 @ 6:55AM
Gingrich can advise a Republican president but he can never be one himself. The man is terribly flawed.
potkas7| 5.18.11 @ 7:32AM
There was only one man who was not deeply flawed...and he's not running for President.
Ken (Old Texican)| 5.18.11 @ 6:56AM
Peter,
good ideas are a dime a dozen. Newt's day has passed, though he will certainly enliven the debates.
He is smart, but erratic; Not the candidate I would prefer.
SpiralArchitect| 5.18.11 @ 12:56PM
Cabinet position all the way - he remains unelectable.
NWBill| 5.18.11 @ 8:28PM
Ken;
If good ideas were a dime a dozen, Dems wouldn't be the useless party they are. Even THEY'D be productive in some way.
I believe, though, that this column and the subject had to do with his economic plan - not his candidacy. My reaction? The economic plan is nothing short of brilliant, and I would not vote for Newt as President. We need (especially after "The One") a President who can listen to others and their ideas; I'm not sure Newt's up to that entirely.
Last thought - isn't it cool how we have TWO fantastic economic/tax plans coming out of the Republican party, and the Dems are left swinging in the wind because they've produced NO plans?
Bill Hussein O'Stalin| 5.18.11 @ 7:10AM
Some of those concepts are very solid and should be implemented.
Just not by Newt.
NWBill| 5.18.11 @ 8:30PM
I don't particularly care WHO implements, them, I just want them implemented!
Lady Gaga could put this in place, and I'd still be as proud I am of my country that we still have people (Newt and Ryan) who can design whole strategies to save the #1 economy on the planet!
danny| 5.18.11 @ 7:13AM
Hmmmmmm....... Newts plan sounds like right wing social engineering to me. (tongue firmly in cheek)
The Bruce| 5.18.11 @ 1:28PM
Man, that's radical :)
John| 5.18.11 @ 7:16AM
Many of these are good ideas. But Gingrich is for cheap foreign labor via open border, H1-B visas and allowing our manufacturing base to be shipped to Communist China and Third World powers under the guise of so-called free trade. And without a thriving manufacturing base and middle class we are a nation racing to the bottom due to this corporate transfer-of-wealth socialism.
A country that makes nothing is an economic paper tiger dependent on foreign powers many of them hostile. No amount of lowering our corporate tax rate will reverse these Benedict Arnold sellouts since we cannot and should not compete with lawless and corrupt countries that employ slave labor.
Gingrich is a one-world globalist but alas so are the rest of the presidential candidates. Our Founders envisioned a self-reliant and sovereign America of free markets and competition within our borders subject to fair laws.
The first candidate that picks up Trump’s message to rebuild America instead of China and other nations will resonate and break out of the pack even though the powerful talk radio phony patriots will wrongly castigate him as not being a conservative
Bob K.| 5.18.11 @ 12:03PM
Amen, John!
Well said!
NWBill| 5.18.11 @ 8:31PM
Herman Cain isn't a one-world globalist; if you have proof that he is, please reply with your evidence.
Thank you.
Wayne | 5.19.11 @ 5:50AM
I don't know, but I am concerned about his roles with Nafta and the Federal Reserve.
chuck| 5.18.11 @ 7:27AM
The man is toast. The best he can hope to do is to pick up the Fairtax and run with it. Look what it did for Huckabee in 2008. He was a nobody until one remark about Fairtax put him on everybody's radar.
Mimi| 5.18.11 @ 7:38AM
In November of 2012, we have the chance to dismiss the current President , WHOM...We don't TRUST !!
I watched NEWT on C-Span giving his Georgia speech which was great. Also the Meet the Press interview , that proved a fatal blow to his prospects. In his defense, as reported on the " LEVIN" show by Paul Ryan...he made a call to him, learned details about the Medicare issue , and apologized! We will see about Newt....He's 67 and one term may well serve the country. Time will tell. Last weeks debate proved we have plenty of talent waiting in the WINGS... and more to come.....A lot more to hear....IT AIN'T OVER TIL ITS OVER !
Margie| 5.18.11 @ 2:00PM
Fair and balanced words!
Good for Newt that he apologized, I'm glad to hear it.
And there would be no contest in a choice between Newt or Obama if Newt got the nomination, despite the cries of RINO-ism.
We must defeat the Socialist Democrat party.
NWBill| 5.18.11 @ 8:34PM
Agreed, Margie! The goal here is to defeat Obama and then to overturn Obamacare ASAP. Whoever does those two things will be regarded as a good President by history.
Gary| 5.18.11 @ 7:38AM
Blah... blah... blah... It doesn't matter what Gingrich says. He's a sellout and that's all we need to know.
John (above) is correct. "The first candidate that picks up Trump’s message to rebuild America instead of China and other nations will resonate and break out of the pack even though the powerful talk radio phony patriots will wrongly castigate him as not being a conservative."
Even though he's a self-serving, half-dope, Trump's message resonated with a huge percentage of real Americans... you know, the ones who get up and go to work every day.
Purpleguy| 5.18.11 @ 2:51PM
"Rebuild America" - what do you think investing in infrastructure and education does? And who wants to cut all that investment? Hmmmm? Contradictions here abound - not unlike Newt himself
George True| 5.18.11 @ 4:19PM
What investment in infrastructure? That was supposedly what the (non) stimulus money was to be spent for, but very little of it actually was. Besides, it was nothing but a colossally stupid adventure into Keynesian economics, which has been proven time and time again not to work. At least not in the real world.
NWBill| 5.18.11 @ 8:40PM
People won't be able to commute, travel, and make use of the infrastructure if they can't earn a living and pay their bills first. We have, as a country, a lot of problems. Let's focus on the biggest "bang for the buck" ones first, and THEN deal with the others. Whether the government is subsidising Amtrak is less of a concern to me than the economy, jobs market, and the Constitutionality of the policies our present socialist President has put in place, is in the process of putting in place, and WANTS to put in place. We have to deal with those things in the first at-bat. The others will get taken care of in later innings.
Teaghan| 5.18.11 @ 7:39AM
This DoughBoy needs to take his platinum blonde, do some more shopping at Tiffanys and quit slamming Paul Ryan and embarrassing the GOP.
What a marooooon. God, doesn't he get it?
Intelligent Design| 5.18.11 @ 7:51AM
Gingrich is irrelevant. He has the same status as scrap metal in a junk yard.
RustyG| 5.18.11 @ 7:57AM
Newt obviously has some excellent ideas.
Too bad he removed himself from any slim chances he had last Sunday.
Another point. My dad is a man of few words, but one thing he told me years ago have stuck with me. I asked him about someone he worked with and he dismissed the man by saying he didn't have much to do with him anymore. "Why not" I asked. Dad said he found out he had been cheating on his wife and told me these words...."any man that will break a promise that he made in Gods house, standing on the alter....I know he'll lie to me."
JFGalt| 5.18.11 @ 7:58AM
More of the same old garbage. AS needs to screen these rah-rah articles for politician X a little better. If its not Newt, its Mitt or some other hack.
Drunken Sailor| 5.18.11 @ 11:54AM
And then just how in the heck would that help the discussions of the canidates and their policies? Or are you just going to go into the booth and flip a coin?
martin j smith| 5.18.11 @ 8:04AM
New is very bad at human relations and thus is not viable. His poor judgement in statements about Ryan and the Ryan plan and his comments that suggest accommodation with Obamacare did not go over very well. He might be bright in some way6s but not oo bright politically on the human level.
Louis Jenkins| 5.18.11 @ 8:11AM
It sounds like Newt has some great ideas. Unfortunately, he is past history. Why he wants to step into the presidential race is a mystery. So let's look to greener pastures, or candidates. And he owes Tiffinay's how much?
Teaghan| 5.18.11 @ 9:57AM
I believe that was half a mill he owes Tiffanys. I guess wifey-poo is high maintanince.
Michael L. Hauschild| 5.18.11 @ 8:14AM
He just apologized to Ryan for something he said last week. I, for one, am not accepting apologies for the last two decades of his behavior. If you look in the political dictionary under "conniving" you will find his picture.
The "Redemtion brothers," Romney and Newt do not present a pretty picture, there is nothing there, move on.
SpiralArchitect| 5.18.11 @ 1:12PM
Yes, better to look to Obamer for moral, economic & military ...leadership.
Purpleguy| 5.18.11 @ 2:52PM
Well - Obama got Osama ... !
George True| 5.18.11 @ 4:22PM
So what?
Anthony| 5.18.11 @ 4:39PM
Amazing, what right-wing war mongers you pansy lefties have become with your continued victory lap over Osama's death.
Gee, aren't you lefties glad you don't have to perform any more phony hand wringing over the reaction of the Arab Street over this killing?
Same with Amnesty International and the ACLU, all I hear are crickets.
You folks are total and complete FRAUDS. Your time will soon be up!!
Nick| 5.18.11 @ 7:05PM
No, he didn't.
The Military Industrial Complex did!
Meanwhile, O'Bama is killing Libyans to keep the oil flowing into Europe.
No Blood For Oil!
No Blood For Oil!
Hey, hey, B - H - O!
How many kids will you put 6 feet below?
NWBill| 5.18.11 @ 8:46PM
Yeah, he "got" Osama - with a military be barely tolerates, let alone understands ... and with terrorist policies put in place by the guy in the chair before him, and with technology he likely wasn't informed of until the copters were in the air.
Yeah, he gave the green light - but, in retrospect, do you think anyone other than ol' Jimmy Carter (who allowed Islamists to hold American citizens prisoner for over a YEAR) would be stupid enough NOT to?
Well .... maybe Al Franken .....
Mimi| 5.18.11 @ 1:42PM
Micheal .....most tend to agree about both ! I don't think either really gets what has gone on since early 2009. We got a rude awakening when the "O" took over..."SCHOCK" is more like it. The country we loved and so took for granted was now at risk...fear , anger, and ACTION followed. We all started reading Liberty and Tryanny and carried the book to TEA Party rallies, on to Nov. 2010 and now upon us is the 2012 Primary.
Does any-one DARE think we will not nominate the MOST..." GETS IT PERSON" to be our next President. Mitt and Newt have a long way to go! How could either ever think that a Health-Care mandate was O.K....it may have flyed in 2008 but not NOW. Ryan's Plan was a FREEDOM plan...that is why he is so loved and respected...He dares to begin to take us down that road!!!
Margie| 5.18.11 @ 2:04PM
Paul Ryan is a remarkable man. Clear speaking, right minded, unafraid to tell the truth, and has a real plan.
I respect this man so much and am praying he enters the fray.
I LOVE him!
Purpleguy| 5.18.11 @ 2:53PM
u probably like his hair too, dontcha?
Margie| 5.18.11 @ 3:20PM
No, I love his character.
Liberals go for the looks.
Margie| 5.18.11 @ 7:24PM
And anyhow~ men that have excellent characters usually happen look pretty good, too.
The physical reflects the spiritual.
Clint| 5.18.11 @ 8:21AM
RINO-CINO Mr.Newt's A Day Late & A Dollar Short.
The Ron Paul 4 Point Plan:
Eliminate taxes on dividends, savings, capital gains and tips.
Freeze non-defense discretionary spending at current levels. (CBO already is budgeted for reducing it.)
Allow gold and silver to be used as money, televise FOMC meetings, report money supply weekly.
Repeal Sarbanes/Oxley. Remove some regulations on community banks.
NWBill| 5.18.11 @ 8:52PM
Freeze spending at current levels? NOT good enough! Any credible candidate will tell you we have to deal with the spending this President has inflicted on the country, which means anyone running has to support returning spending to pre-2008 levels. If they don't, I don't wanna hear from them.
TennesseeVolunteer| 5.18.11 @ 8:22AM
What was so great about Newts misbegotten comments about Ryan was the groundswell of support for Ryan that was to be seen by the conservative side of our party and the pundits.
Maybe some of the pundits weren't in love with Newt anyway but I think it is awesome how Conservatives have come to Ryans support.
It shows me that his arguments and our beliefs are gaining traction. when 74% of Americans in a poll do not want the debt ceiling raised, it is obvious that all the Joes (Six-pack, The plumber, Say it Ain't so et. al.) are falling on the side of smaller government and more personal freedom with your own money!
We live in interesting times. Newt and Trump have done all conservatives a great service. With their boisterous errors, the Conservative Right is making it's beliefs known and the great Middle of America is in agreement. This cannot be good for the Dems.
Margie| 5.18.11 @ 2:06PM
Well said, sir.
Purpleguy| 5.18.11 @ 2:56PM
Try reconciling that number, 74% with the 80% that don't want Medicare, Medicaid or Social Security touched - and that will make your head spin. I'll take bets on whether the R's run on Ryan's plan unchanged in 2012 ... :)
Wayne | 5.19.11 @ 5:56AM
And you don't think the Democrats will touch it whn we get even deeper in the hole? You are very naive. They have run both programs into the ground and pretend their is no problem.
Old Soldier | 5.18.11 @ 8:29AM
When Newt is on he's great. When he's off, he is absolutely terrible.
http://cnsnews.com/news/articl.....medicare-p
crookedwren| 5.18.11 @ 8:29AM
Does anyone believe anymore that the tax rates were put in place to raise revenues? Haven't we rightly come to the conclusion by now that the people for whom we've been voting have been selling the US down the river for many and many a year?
The point of those corporate tax rates and capital gains tax is and has been REDISTRIBUTION OF WEALTH on behalf of GLOBALISM/STATIST ends.
As for Gingrich, he speaks well most of the time, but it's difficult to trust anyone these days.
I didn't hear the interview where he blasted Ryan's plan. I like Paul Ryan, but I also know the media will do ANYTHING to destroy ANY REPUBLICAN running for ANY OFFICE. So I'm trying to hear the whole story. Still it only takes one sound bite to destroy a political candidate.
I understand the comments above re: a cheating spouse and would tend to agree. However, the humanheart is a mystery. There are things that can happen in a marriage that lead to its destruction. Sometimes those things are done by the party that appears to be the "injured" one. I won't be Gingrich's judge on that -- being one who has a spot or two (actually a great deal more than one or two, sorry to say) of sin on my own conscience.
Still -- will we be able to trust him? Is he a "man of his word"?
I'm worried, y'all. Whom can we trust? Is there one who can win? We'd better find an honest broker soon.
I like Cain. I'm in favor of drafting Chris Christie.
youfamissim | 5.18.11 @ 9:00AM
Cain is increasingly appealing to me. Cain vs Obama debate? Watching Cain eat Obama alive is something I'd relish seeing. BHO disarmed - no race card - Cain redefining black politics... seeing him take on the race hustlers and MSM - pointing out their racial bias... ripping on indolence addiction - That's Entertainment
Maxwell| 5.18.11 @ 1:43PM
Chris Christie you say? Well, you like open borders then beause CC is for open borders. Are you are anti gun,? Yup, CC is for gun control. How about Cap and Trade, Jersey has Cap and Trade, it is called Reggie. CC is for Cap and Trade too. You like Obama Care? Guess who did not want to lend a hand to those states that filed suit? That is your man, CC again. How about judges, Mike Carroll is a conservative who CC proposed for a judges spot but folded in less than a week, the Bar Association did not like Mike. Thanks, I'll pass on CC.
NWBill| 5.18.11 @ 8:56PM
Christie has repeatedly said he's not ready to run for President, and even though I think he's a great guy (and VERY funny!) and has some great policies, he's not the one we're looking for right now.
Herman Cain is.
The best thing you can do for yourself is to check out his speeches and appearances on Youtube and other outlets. Listen to him. You'll be glad you did.
Ore Gone| 5.19.11 @ 4:13PM
Hopefully, the flawed will show their colors and the people of moral fiber will rise to the top. It has been shown already the media has their favorites which just happen to be the RINO's and the people's favorites such as Cain are not given any mention. We the people have to keep bringing his name up again and again until the media can't ignore him. Have faith, I worry about the control of the voting machines more than anything. We must prevail as the country can't take another four years of this type of illicit administration.
youfamissim | 5.18.11 @ 8:53AM
Newt is incapable of restraint. His egotistic behaviors have cost him repeatedly, and he appears incapable of changing those behaviors. Lest we forget - Newt was in favor of Amnesty and other RINO policies. Newt is bright and capable. He is also so tainted by his chosen behaviors he is no longer fit to hold office. The last role for Next may be as a department head - cabinet position - but that requires a Senate approval and I doubt he will pass that test. Stick fork, move on.
blackwatch| 5.18.11 @ 10:05PM
well said. and his jealousy of Ryan's popularity fuels his mean streak.
Et tu Newtie?
Doorgunner| 5.18.11 @ 9:04AM
Mr. Ferrara,
Newt Gingrich is a joke... an old joke... on us.
Once he sat down on that sofa with Pelosi, any sentient being not yet aware of his true nature should have realized he's just another lying scumbag seeking office for personal gain. He feels he can safely espouse any conservative ideal he wants -just as a Pelosi can spout any feel-good spending plan- without consequence because the odds of passage are, historically, quite long. That's how the game is played. The only point to being an R or a D is to know to which contributors you direct the Federal
largesse.
We are tired of it; and it is a failing game in the new media age. And shame on you for touting it.
John| 5.18.11 @ 9:45AM
Perhaps some so-called conservative pundit could ask the brilliant Newt and the rest of the GOP presidential field if they are for ending Clinton/Gore’s NAFTA, which resulted in many of our disappearing factories and good-paying jobs.
And then they might ask Newt and others if they support withdrawing from the WTO -- the U.N. of trade, run by thousands of slippery lawyers who have no loyalty to America.
No, you won’t hear these subjects in a Republican debate from either the big-money left or right media -- they are both joined at the hip on libertarian economic globalism and selling out America’s sovereignty and middle class.
NWBill| 5.18.11 @ 9:00PM
That's why it's a good thing we're not electing the media to office in this country (even though sometimes it feels that way).
I am in favor of revising NAFTA; I support it with two countries, and ONLY two countries: the US and Canada. Everyone else? You're on your own.
I think we should leave the UN, too, and tell them they have 6 months to get out.
Anthony| 5.18.11 @ 9:54AM
Too clever by half Newt had to "walk back" his assinine comments about the Ryan budget and "right-wing" social engineering.
Clever Newt is always looking for ways to be seen as ahead of the pack. Once again, our chubby friends brain and mouth have betrayed him.
Go away Newt, you're no longer the smartest kid in the R class, and we certainly don't need a chubby version of McCain to slobber over the LSM just to get attention and stab conservatives in the back.
If the rest of us working stiffs had to "walk back" our comments, as these elites seem to do on a daily basis, we'd be enjoying Obozo's food stamp program.
martin j smith| 5.18.11 @ 10:16AM
MR Ferrera: Are Mainstream Republicans capable of putting up a candidate who can and wants to win.
Or, are they so inept, in their own bubble of WASHINGTONIAN SOURCES that thye are incapable ? Or, are they just currupt, crony capitalists and will make a deal with ANYONE. ?
Mr Ferrara: Which is it ?
chris haynes| 5.18.11 @ 10:38AM
Bizzarre behavior:
"Last Friday I attended the speech by Newt Gingrich at Art Laffer's annual Investor Conference in Washington, D.C., where Gingrich unveiled..............."
Why would anyone go hear Newt Gingrich speak?
NWBill| 5.18.11 @ 9:09PM
To learn something. Did you question the political and sexual backgrounds of every teacher and professor you ever had? No. You went to school in order to learn something. And we did. We learned, once again, that if you separate yourself from his failings as a human being, Newt Gingrich is a very intelligent person. And intelligent people - who have the proof of their intelligence - should be listened to. Do you remember what Newt did to Clinton and the Dems in the mid-80's when he was Speaker? I do ... it was like watching Charlie Sheen go up against Albert Einstein.
Is Newt the man to be the next President? Probably not. But READ THE DAMN ARTICLE! That is a PLAN! Those are EXCELLENT ideas! And we're doubly lucky, because we have TWO men who have put forth excellent plans to get this country back on the right path.
Don't completely discount Newt's ideas because of his failings as a human being .... unless you have no failings of your own to compare with?
Oldefarte| 5.18.11 @ 12:50PM
Peter's article possibly made some missteps here concerning NG. The defense of OBAMA [WELFARE] CARE was unforgivable, and the thoughts concerning taxes are noble but non-critical at present. Our critical problem is governmental spending, not taxes; and if we ever solve the former, we can thereafter deal with the latter. If spending is ever placed on a path to control, we subsequently need to audit each/every governmental agency/program as to its necessity/relativity and to eleminate those not qualifying. Thereafter, domestic manufacturing has to be re-emphasized by eliminating labor unions, taxing/tariffing foreign goods, subsidizing domestic manufacturers, establishing offshore oil drilling platforms in shallow water three feet apart form each other and domestically restricting the oil production from same to USA consumption, etc. After all this is accompolished, tax reforms can be considered [but never tax increases from same]!!!!!!!!!!!!
Nunya| 5.18.11 @ 1:44PM
Personally, I like the ideas mentioned in the article, I think every one of them should be put into place. The Socialists will scream, but if it was done our economy would recover almost overnight.
Unfortunately, like most on this discussion board, I'm not much of a fan of Newt, for a number of reasons. While the ideas listed in the article are obviously conservative in nature, Newt himself is a RINO on far too many subjects to be trusted. Sitting on a couch with Pelosi talking about AGW? Give me a break.
Michael L. Hauschild| 5.18.11 @ 2:03PM
You know you are in deep doo doo when this guy gives you kudos.
http://blogs.abcnews.com/theno.....-plan.html
Phatomorphan| 5.18.11 @ 2:22PM
President Daniels (or Romney, or Perry) should change the Commerce Department to the Economy Department and name Newt Economy Secretary. The ex-speaker's ideas are exactly what we need to counteract the Obama catastrophe, but he shouldn't be allowed near the Oval Office (except to advise the next president on growing the econ0my).
Patrick| 5.19.11 @ 4:04AM
What are you smoking?
Newt is a whore to Al Gore's ethanol mandate to this very day. 'Nuff said.
Kristal| 5.18.11 @ 2:40PM
Mr. Ferrara, you, as a Newt fan, must just be sick that he’s completely blown his presidential hopes to smithereens.
Probably the best we, and he, can hope for, IMHO, is that he is able to simply stay in the race for the GOP nomination and thus have a platform in the debates to passionately argue for all those GREAT ideas he has, which you continue to clearly lay out for us here at AS.
I’m old enough to remember seeing him on C-SPAN, when he was starting to bring down Jim Wright, and very much enjoying his flame throwing, urging him on---and, of course, happy when he surprised me and everybody else by winning.
It is really too bad for the USA that he fulfilled the Peter Principle prophecy, and proved unfit for higher office. Nevertheless, we should all be totally grateful for what he DID accomplish, and in a heartfelt way give him some slack.
We are ALL flawed!
I’ve long believed it would be wonderful if we could take the “color blind” idea to another transcendental level, so to speak, by not even knowing about any of the personal peccadilloes of idea men and women, or even knowing what sex they are or what they look like.
Imagine if people could just get past all the People Magazine crap, and, with an open mind, simply consider the ideas Gingrich offers as true solutions to our suicidal political and economic condition.
ALL the ideas you regularly and faithfully write about, as a firm Gingrich supporter, if implemented, would be fantastic---that’s for sure!
Alas---people are too human, all too human!
Witness the gamut of comments about Newt, in personal terms, verses those ideas.
Who will ride in on a white horse, and embody the personal traits of great character, a history of impeccable behavior, AND great Newt-like ideas?
I think it’s POSSIBLE the suicidally despairing situation America, and by extension, the world, is currently in, could “throw up” the right person, since this country has a deep bench--- that’s certain.
I think it would be great if Paul Ryan continues to shine, and proves to be so “presidential” that he tosses his hat into that hoary ring.
The old dichotomy, statesman or mere politician, comes to mind.
Ah, what a plethora we have of the latter!
Of all the contenders who are viable possibilities on the right, it sure seems to me that Ryan embodies more statesman-like qualities than anyone else.
Time is short, and there is still time for him to hang out, waiting out the froth of a Trump, a Gingrich, and all the other eager “second tier” candidates to blow away.
Go Ryan---the Ryan Express!
Purpleguy| 5.18.11 @ 2:58PM
yes, please, ride the Ryan train to 2012 ... please....
George True| 5.18.11 @ 4:30PM
In spite of your bravado, I doubt you would enjoy seeing your messiah Obama have to try to debate Paul Ryan or anyone else like him.
NWBill| 5.18.11 @ 9:20PM
Let's face it; Paul Ryan probably won't be President in 2012. BUT, wouldn't you still like to see him debate "The One?" Of course, it wouldn't happen ... because you need balls to get in the ring with someone like Paul Ryan.
Patrick| 5.19.11 @ 4:10AM
I don't see Paul Ryan running in 2012 or even 2016 for the same reason why he didn't run against Feingold. He is now exactly where he wants to be.
Oldefarte| 5.18.11 @ 4:35PM
No one will be riding any train or other forms of transportation, since your El Chosen One's energy policies are causing $4/gallon fuel and climbing, idiot!!!!!!!!!
Mimi| 5.18.11 @ 3:03PM
Kristal....People say...Where is a Reagan like candidate? WE see him...In Paul Ryan...In the State of the Union response....Many have a beginning awareness of just how a remarkable LEADER he could be. MOST IMPORTANT...We can TRUST him!!!
blackwatch| 5.18.11 @ 10:12PM
Ryan has small children at home. Don't screw up those kids' lives by making them live at 1600 Pennsylvania Ave.
Give Ryan 10 years--and then watch out America!
In the meantime--check out Herman Cain.
shipley130| 5.18.11 @ 6:17PM
Gingrich isn't going to do any of this with the Senate that we have. He can bluster all he wants, it's his free speech.
Patrick| 5.19.11 @ 4:13AM
That's all he was good for in the '90's too - bluster.
Newt Gingrich is all about Newt Gingrich, always has been, always will be.
Conserdude| 5.18.11 @ 7:30PM
Mr. Ferrara, I like your stuff, but please spare us this attempt to shore up Newt. He's a train wreck and his campaign for president is all over but the withdrawal announcement. His multiple character flaws make him unfit for speaker (hence, his resignation) and more so for president.
Mike Bills| 5.18.11 @ 9:10PM
Wow, did I read the same article as those who are commenting?
I liked the piece and happy to hear candidates talk about prow growth policies regardless of whom they are. Newt is not perfect but neither is Paul Ryan. Any candidate we have could be dead wrong on 50% of the issues and still be 100% improvement over Obama. But to take Newt to task for criticizing Ryan’s Budget while ignoring the policies he is advocating seem silly. I too, like and respect Paul Ryan but I don’t see him as the poster boy of what conservatism was back in the Reagan years like many do.
Are the people angry at Gingrich forgetting that Paul Ryan voted in favor of every spending increase the Republican leadership and President Bush put forward? He voted in favor of No Child Left Behind, the huge 2003 Medicare expansion and the TARP bailouts.
And let’s look at the Ryan budget:
1. Shows federal outlays increasing from $3.5 trillion in fiscal 2012 to $4 trillion in 2017 to $4.5 trillion by 2020.
2. Over the next decade, spending is projected to total $40 trillion under the House plan versus $46 trillion in Obama's budget.
3. Under Ryan's budget, no departments, boards, bureaus, or programs of any note would be abolished, with the exception of ObamaCare.
Is this what conservatism is today?
Now Newt’s plan (In part):
1. Gingrich first proposes repealing all of these tax increases, including Obamacare in its entirety
2. He proposes to abolish the capital gains tax altogether, in addition to the individual income tax, and the death tax.
3. Would reduce the federal corporate tax rate to 12.5% from 35%.
4. Provides for 100% expensing of investment in new equipment.
5. Proposes an optional flat tax of 15% to the current tax system, you chose.
6. Reverse the cheap dollar policy & fundamental Federal Reserve reform.
7. Reform Environmental Protection Agency from anti-growth confrontation with industry.
8. Deregulate- freeing the energy industry to maximize production of all forms of American energy.
These are pro-growth pro-America policies I can really get behind. They have freedom written all over them. I could support anyone who would fight for these policies even if they weren’t perfect.
Patrick| 5.19.11 @ 4:14AM
Newt Gingrich could care less about growth if he can scam another million from ADM and the Ethanol Lobby.
Tom B| 5.18.11 @ 9:11PM
I have to agree with what most of you have said about Gingrich. I lived in Atlanta for 45 yrs before I retired and got the know him on a personal level. Yes, he is very intelligent but has many flaws as an individual. What he as said and done in the last few weeks has, IMHO eliminated him from the presidential primary selection process. Newt has pretty well politically newterd (new word there for you) himself and has no one else to blame. Tom
All kind of Brands | 5.18.11 @ 9:19PM
Very detailed info. I am very glad to read this article. Thanks for giving us nice articles.
Pastor emeritus Nathan Bickel | 5.18.11 @ 10:24PM
I think with the latest developments, Newt will have to concentrate on a recovery plan for his infant and fledgling campaign before he can lay out any recovery vision for America........
somnolence| 5.18.11 @ 10:50PM
When she was on Sean Hannity tonight Sarah Palin had to restrain a laugh when summarizing the current GOP field. She also told Hannity there is plenty of time until the legal deadline. I've read elsewhere today that if she enters she WILL BE the leading contender in N.H. and Iowa hands down.
Dee See| 5.18.11 @ 11:08PM
---TAKE HEED
As we write, Dr Busby's latest testimony
on the unfolding, MASSIVELY covered-up
greatest nuclear disaster of all time in Fukishima.
TAKE HEED, not only is our globalist government
and media refusing to release figures ---BUT
the ever jacked up 'tolerable levels' are criminally
misleading. IN FACT these levels, when honest,
ONLY apply to external exposure (ie bombs)
and NOT internal fallout exposure.
"Internal exposure, micro-scopic, even a mere
molecule, is a death sentence plain and simple."
-Dr Busby
And as ever, REMEMBER, 'easing' (ie incremental
extermination) of the American population by
100 MILLION come 2050 is CORE agenda of
David Rockefeller, UNESCO/Agenda 21/RIIA-CFR/Bill Gates et al.
It's the very thing they're always giggling about.
IF you're STILL unable to find the plot
turn off your surveillance tool PC, go to the
mirror, make eye contact and say---
'HUAC meets NUREMBERG' three times slowly.
----------------------AGAIN
-----------------AGAIN
Patrick| 5.19.11 @ 4:20AM
You will be exposed to more radiation by walking near a granite counter-top than you will from the Fukishima reactors. You will ingest orders of magnitude more radiation from eating a banana than you will from these nuclear power plants.
You sir, have just swallowed a load of Greenpeace/Sierra Club/Al Gore BS.
David T| 5.18.11 @ 11:58PM
This is the type of bold approach that will get Gingrich back in the race. Now that Huckabee's out, Newt stands to gain support. It will probably become a two-horse race--Newt and Mitt--with Newt taking the prize. The best Pawlenty, Daniels, Santorum, Paul, Bachman, Cain, or anyone else can hope for is second place on the GOP ticket.
Patrick| 5.19.11 @ 4:21AM
So it's Dole '96 all over again....except worse.
NM Leon| 5.19.11 @ 12:16AM
I have been a Newt fan for 20 years, and have advocated for him as president for all of them. No more. His ideas are as valid and intriguing as ever, but I will not support him in the primaries.
Should he win the candidacy, I would of course vote for him and keep my fingers crossed. Much better to my mind to have to cross my fingers with the Newt, than to have to hold my nose while voting as I did with McCain and GW.
Dee See| 5.19.11 @ 12:31AM
Gingrich is the worst sort of oppurtunist
biz-nihilist.
In TRUE globalist nihilist fashion he's even for
cap and trade, a joke on the destruction of
borders, and a warm supporter of the most
sinister, indeed, unutterably criminal agendas
of the likes of David Rockefeller and Bill Gates.
'EUGENICS IS HIM'
-------------------------------Get it?
lucywatchesmall | 5.19.11 @ 2:43AM
I’ve been looking everywhere for this! Thank goodness I found it on Bing.