Newt Gingrich on Politics and the Economy: Debating Candidates and Economic Solutions

Former House Speaker Newt Gingrich discusses his presidential campaign and the 2012 Republican primary, touching on issues such as job creation, the Obama administration's economic policies, and tax reform. Gingrich defends his own tax plan, which includes a 12.5% corporate tax rate and a zero capital gains tax, and criticizes the Obama administration's approach to taxation.

Gingrich's comments reflect his presidential campaign's focus on economic growth and job creation, highlighting the importance of reducing the corporate tax rate and eliminating tax breaks for companies like General Electric. He also criticizes the Obama administration's policies, including the Dodd-Frank bill and Sarbanes-Oxley, which he views as job-killing legislation.

Notably, Gingrich expresses skepticism about the notion that his campaign is a two-man race against Mitt Romney and Rick Perry, arguing that the media's portrayal of the election as a tight contest between these two candidates is irrelevant to the outcome.

Key Takeaways:

• Gingrich emphasizes the importance of creating jobs and stimulating economic growth, citing the need for reduced corporate taxes and tax breaks for American companies.
• He defends his tax plan, which includes a 12.5% corporate tax rate, a zero capital gains tax, and a focus on expensing for new equipment.
• Gingrich criticizes the Obama administration's economic policies, including the Dodd-Frank bill and Sarbanes-Oxley, and views the Obama administration's approach to taxation as "job-killing."
• He argues that his campaign is not a two-man race against Romney and Perry, and that the media's portrayal of the election as such is irrelevant to the outcome.
• Gingrich notes the importance of balancing the budget and improving national security, and expresses confidence in his campaign's ability to win despite media perceptions.

Statistics:

• The Obama administration has seen a 15 percent increase in the number of Americans in poverty over the last year.
• Under Ronald Reagan, there were 3.7 million more Americans at work than at the same point in the Obama administration.
• The total number of Americans at work under Barack Obama is 3.7 million fewer than the number of Americans at work under Ronald Reagan.
• The Obama administration's economic policies have led to the creation of new jobs, but at a slower rate than under Reagan.
• The proposed tax plan of Jon Huntsman, one of Gingrich's fellow Republican candidates, involves eliminating all tax breaks for corporations.

Sources:

• [Bloomberg TV, "Newt Gingrich on Politics and the Economy," September 13, 2011]
• [Census Department, "Poverty in the US"]
• [CQ-Roll Call, "2012 Republican Primary"]