PRESS RELEASE from Bachmann for President
For Immediate Release
October 11, 2011
Contact: Alice Stewart
Bachmann
Introduced "American Jobs,
Right Now" Blueprint
for Economic Prosperity and Job Creation Today
Hanover, NH – In
advance of the Bloomberg/Washington Post GOP debate that will focus on
economic issues, Republican presidential
candidate Michele Bachmann announced this morning her blueprint for
economic prosperity and job creation titled "American Jobs, Right Now."
With
9.1 percent unemployment, $16.7 trillion in national debt, and a
severely weakened U.S. dollar, Bachmann unveiled her vision for
restoring
confidence in the our financial system, spurring economic growth, and
creating jobs for out of work Americans.
Eleven Points of "American Jobs, Right Now" Blueprint:
1. REPATRIATION.
More than 1.2 trillion United States dollars could be brought back to
America in days as an immediate "stimulus" if the government would zero
out the tax rate on that money until December 31, and then permanently
keep it here in the U.S. if taxed at a rate of 5 percent. Foreign
earnings totaling over $1.2 trillion is more than the President's
failed stimulus and it won't come out of taxpayer wallets. It would
increase the value of the dollar, provide valuable capital for the job
creators in this country and pump tremendous amounts of money into our
economy.
2. CUT SPENDING AND GOVERNMENT.
I have already voted to cut federal spending in the years ahead, every
single time I have had the opportunity. In addition, I would phase out
quasi-governmental enterprises, such as Fannie and Freddie, and
eliminate duplicative government programs and costs. We must decrease
government salaries to bring them in line with their private sector
counterparts, and we must decrease the number of government employees.
Over-spending by the government hurts job creation by devaluing the
dollar and stealing capital from the private sector.
3. REPEAL OBAMACARE.
Healthcare is one-sixth of the U.S. economy and this unconstitutional
takeover of healthcare by the federal government is creating crippling
uncertainty for employers across this country. This legislation does
nothing to address the true problem with our healthcare system – cost –
and will cost states trillions. I believe it is an intentional backstop
to imploding healthcare entitlement programs — Medicare and Medicaid —
to transition toward a single payer-system. This is the number one
hindrance to job creation in the United States (according to a recently
released UBS study).
4. CUT TAXES.
I've demonstrated a firm commitment to cutting spending and balancing
the budget. We need to reduce the number of tax brackets, repeal taxes
outlined in Obamacare, fix the Alternative Minimum Tax, and eliminate
the Death Tax. In addition, we must make the corporate tax code simpler
and fairer, and allow U.S. companies that generate earnings overseas to
bring back those profits and invest them in American jobs and growth.
5. REPEAL THE JOBS AND HOUSING DESTRUCTION ACT, ALSO KNOWN AS
DODD-FRANK.
This law tightened regulations on banks, made it harder for Americans
to obtain credit, and failed to address the systemic problem that
caused the Wall Street collapse — leverage. This 849-page bill calls
for 400 new sets of rules that will be written on 6000 Federal Register
pages, all written by bureaucrats, many of whom have never worked in
the financial services field. The law also creates a potentially
intrusive Financial Services Consumer Protection Bureau that is not
accountable to Congress and which has but a vague mandate to combat
misconduct – so in the wrong hands, it could cause its own kind of
misconduct.
6. LEGALIZE AMERICAN ENERGY PRODUCTION AND AMERICA'S NATURAL
RESOURCES.
This could create 1.4 million jobs, bringing $800 billion of new
revenue into the U.S. Treasury, and increasing domestic energy supplies
by 50 percent. The price of energy has a direct impact on nearly ever
facet of our lives. We have to abandon the parochial and political
energy policies of the past and install a comprehensive energy plan
that not only reduces our reliance on unfriendly foreign regimes, but
also creates millions of American jobs and generates increased tax
revenues. According to the Congressional Research Service, the U.S. has
more energy potential than any other country in the world. We should
use that potential. It is a better policy to create American jobs and
explore in an environmentally-sound way, than to rely on foreign
dictators who give little regard to the environment. This includes
specific strategies like reviving the logging, timber, mining and
metals industries, and bringing federal lands back into productive
activity by repealing radical environmental laws that kill access to
natural resources.
7. REPEAL JOB KILLING REGULATIONS.
America's job creators and small business owners have lost economic
liberty under the weight of $1.8 billion annually in compliance costs
with government regulations. Together we sent $2.2 trillion in taxes to
the federal government this year. By comparison, job creators spend
nearly as much annually to comply with bureaucratic mandates.
Obamacare, Dodd-Frank, and the string of mandates and rules from the
Environmental Protection Agency — as well as other agencies — are
creating such incredible uncertainty in the market. The House
Republican leadership has identified 219 planned Obama administration
regulations, each of which will cost the economy more than $100
million. This red tape rampage must stop.
8. INCREASE EXPORTS.
This President has been holding hostage trade deals with Colombia,
Panama and South Korea as he tries to negotiate favor for Big Labor.
The world needs to know that we are open for business and U.S.
Companies need to expand beyond our borders to the 95 percent of people
who do not live here.
9. UNLEASH AMERICAN INVESTMENT.
By eliminating unnecessary taxes and regulation, and expanding trade,
we will create an incentive for investment in America again. We must do
whatever it takes to restore our ability to manufacture here in the
U.S. We can do this by reforming the tax code, providing incentive for
growth, and allowing the private sector to control the market with
little government involvement.
10. PAVE A PATHWAY FOR INNOVATION.
Recent reports indicated that the United States has now slipped to 5th
in the competitiveness rankings, and 47th in education. How do we
expect to lead the world economically when we are not doing what is
needed to inspire and foster innovation here at home? The future of the
American economy lies with the innovation of this and future
generations.
11. ENFORCE AMERICAN IMMIGRATION LAWS.
The failure of the federal government to enforce its immigration laws
costs federal, state and local governments billions of dollars
annually. Our nation was founded on the rule of law, and we must ensure
U.S. immigration laws are respected and enforced not only to preserve
our national security, but to protect federal, state, and local
budgets, and to curb the unfair strain on our country's job markets.
see http://www.michelebachmann.com/issues/americanjobsrightnow/
October 20, 2011
Bachmann Stresses Plan to Revive American Competitiveness During Speech
at Commonwealth Club of San Francisco
San
Francisco, Calif. – Republican presidential candidate Michele
Bachmann addressed a packed hall at the Commonwealth Club in San
Francisco
today. Bachmann delivered her speech, The Revival of American
Competitiveness, where she outlined key pro-business initiatives she
would introduce
and support as president of the United States to bring America back to
the forefront of global competitiveness.
The following is the
full text of the address:
"In a letter to Thomas Jefferson, John Adams wrote, 'You and I ought
not to die before we have explained
ourselves to each other.' The challenges we face today have summoned a
variety of opinions about the best course of action to solve them. As a
former federal tax attorney and a creator of a small business, I can
think of no better place than the Commonwealth Club to offer my
'explanation'
into the crucible of public debate.
"I am honored to be here today at this time honored forum to speak with
you about a subject
that's little discussed, but eminently important in this 2012
presidential campaign. Over the last several months all of us have been
rightly
concerned about high unemployment in the midst of an economy that
continues to stumble. But little noticed by most Americans was a
startling piece of
news that is partially responsible for our grave economic times, the
fact that America has slipped to fifth in the list of competitive
nations.
"Yesterday, Senate Majority Leader Harry Reid summed up quite nicely
the fantasy economic thinking that dominates Washington, DC today
when he said, 'It's very clear that private sector jobs have been doing
just fine; it's the public sector jobs where we've lost huge numbers,
and
that's what this legislation is all about.'
"That's despite the fact that since 2007 private sector job losses have
been three
times greater than governments, and that federal employees took home
$126,000 annually which is two and a half times the U.S. median wage.
That
statement qualifies for Ripley's Believe it or Not.
"The United States of America, history's most successful political and
economic
experiment, has proved that a nation rooted in free market competition
has led the world in innovation in areas that have advanced the
disciplines of
medicine, science, technology and made our quality of life second to
none.
"But when government gets in the business of picking
winners and losers, as in the case of the Solyndra's of this
administration, it becomes our cash for government's clunkers, and
worse, American
competitiveness in the world is badly damaged.
"For America to regain its competitive edge in the global economy, we
must
fundamentally restructure how Washington spends money, radically reform
the tax code, educate more and better trained Americans, provide for
more
efficient movement of goods, encourage fair trade relationships, and
reduce unilateral regulatory barriers for entry into the marketplace.
"The passing of Steve Jobs saddened us all. He was more than the
co-founder of Apple. He was an icon who represented what is great about
America, and he never settled constantly asking employees if they had
produced their best product.
"We have always been about
being on the cutting edge leading the world in new ideas and
innovations. Steve Jobs represented that ideal at its best. Who could
have imagined
just a few years ago that you could have all of your music, a camera,
video camera, your photos, your phone, an encyclopedia all connected to
the
world at your fingertips? Steve Jobs could. He and his team changed our
world for the better.
"The Steve Jobs spirit still
exists in the imaginations of young entrepreneurs today. A recent Wall
Street Journal article indicates that 77 percent of all students
surveyed by
Gallup about their aspirations responded that they wanted to be their
own boss. Forty-five percent of America's youth want to start their own
business and 42 percent said, 'I will invent something that changes the
world.'
"The next generation of 'Steve Jobs' is out there
waiting to step up and drive the engine of American innovation and
competition. Entrepreneurship is the fastest-growing course of study on
campuses
nationwide. So the desire to succeed remains. The challenge is that
many of these students lack basic information and experience to enter
the work
force, much less start companies.
"Now take, by comparison, a government enterprise, the Post Office,
which yearns to remain
committed to paying higher labor costs that bear no comparison to wages
paid in the private sector. The Wall Street Journal reported, the U.S.
Post
Office so desperate for self-preservation is considering selling
hunting licenses, country music CD's, and coffee to try and make ends
meet.
"They have failed to innovate and keep up with the free market systems
of delivering products to consumers and now are billions in the
red and looking to the taxpayer for money. They have failed the tests
of innovation. If these gimmicks fail to get them to break even,
perhaps
they'll resort to bake sales.
"The Post Office proves why government shouldn't displace propriety
functions--that is what Steve
Jobs practiced as one of his secrets to success –'simplicity and saying
no to 1000 things.' Instead, the oxymoron of government run businesses
is that they say yes to everything and will spend anything because
they're not driven by the need for profit.
"Researchers,
entrepreneurs and investors across America have been paralyzed by this
president's anti-business policies that have created severe
uncertainty. As
president, I will signal by way of leadership to innovators, that the
time has come to once again unleash the genius of Adam Smith's
'invisible hand'
working to create the wealth of the nation.
"What drives investment and the execution of innovative ideas is an
environment that
fosters it. A perfect example is Israel, which enjoys 2.5 times the
venture investments than the United States, as a result of their
culture
embracing innovation.
"My American Jobs, Right Now solutions are aimed at fostering that
culture, which will turn our economy
around and create high paying jobs that come with increased
competitiveness and innovation.
"Our nation's ability to compete in
the global economy begins with education. We must demand strong schools
so that young Americans enter the workforce with the math, science and
problem-solving skills they need to succeed in the knowledge economy.
Education has always been the gateway to a better life in this country,
and our
primary and secondary schools were long considered the world's best.
But on an international math test in 2003, U.S. high school students
ranked 24th
out of 29 industrialized nations surveyed.
"Our schools can do better. I got into politics because of education.
As a mom I saw the
politically correct, dumbing down of their curriculum and decided I
needed to work to improve the education system for our kids. That's why
I would
close the Department of Education and return the control of education
resources and the decisions about how those resources are allocated to
the local
level where they are best made. Not only does the Department of
Education not know what's best for local schools, they have taken
billions of dollars
from the states to pay for their expensive bureaucracy. That sort of
government behavior must end.
"Our competitiveness depends
on well-educated people. American educated scientists and engineers
have been the driving force behind our tech revolution but we're not
graduating
enough of them. To keep our competitive edge and remain the world's top
tech innovator, we need to raise the math and science skills of our
students.
"College tuitions are out of control while paradoxically the
availability of information has never been greater. The nation's
young entrepreneurs are graduating with enormous debts that often steer
them away from pursuing starting a new business, and instead toward
stable
jobs that increase their ability to pay down their loans.
"Every child deserves a quality education so they can succeed in life
while keeping America strong economically and militarily.
"We must never ignore the power of human capital in our quest to be the
leading force for innovation and competition. And we must never forget
that education begins at home and that the family is the most important
component of any child's education--we must protect the integrity of
the family in the life of a child.
"Part of producing an
effective workforce means that we have to reform employment laws.
Employees deserve the right to work, and the federal government's
National Labor
Relations Board shouldn't interfere with that right like they are doing
with Boeing in South Carolina.
"Reforming employment law
also means making it easier to reward good employees and to find bad
ones a new line of work. This also means reforming our unemployment
insurance
system that was created 50 years ago to help workers through temporary
layoffs. Under the model, after business picked up, they could go back
to the
same job, in the same factory, at the same company, selling to the same
customers. That is not the world in which employees now live. Now when
workers are laid off, the job is gone.
"Today unemployment insurance, even by the admission of the
administration's newest
economic council member, Alan Krueger, is a disincentive to work and
increases the length of joblessness.
"Another pillar for
competitiveness is a healthy investment climate so our technology
industry will continue to thrive. Hi-tech capital investments will flow
to the
country where Internet delivery is fast and efficient, where financial
markets are strong, and where taxes are kept low.
"To
promote innovation, we should make the research and development tax
credit permanent to maximize the private sector innovation it
encourages in our
economy. That's why I have serious concerns about government getting
involved in regulation of the Internet, and about ambiguities in this
legislation, which could lead to an explosion of destructive,
innovation-stalling lawsuits.
"In the 1980's Ronald Reagan enacted
tax reform that created a period of unparalleled prosperity. I intend
to increase our competitiveness by following his blueprint for tax
reform,
which had as its core principle to stop taxing investment and
productivity.
"If America is to once again regain its footing as the
world's competitive leader, we must abolish the U.S. tax code and
replace it with a fairer, flatter, more simple one that has at its core
a corporate
rate that is one of the lowest in the world.
"In addition to extending the capital gains exemption and modifying the
code to
promote investment, the corporate tax rate must be lowered
substantially. I will.
"As part of this revision, I would address
the problem of foreign earnings trapped abroad and enable these
companies to bring those earnings home and invest in America, a
practice known as
repatriation of American dollars.
"Repatriation and a low corporate tax rate would incentivize American
businesses to return to
America's shores and spur manufacturing in America. And most
importantly repatriation is a stimulus to the U.S. economy not funded
on the backs of
taxpayers.
"Uniquely American values include the right and opportunity to work,
and the right to keep the fruits of your
labor—that it is your money and not the government's to spend or waste.
Without private property rights there can be no liberty, and without
liberty there can be no America.
"Fourteen million of out of work Americans, most of whom were laid off
through no fault of their
own, have lost their economic liberty. And America's job creators and
small business owners like myself, have lost our economic liberty under
the
weight of $1.8 trillion annually in compliance costs with government
regulations. "Together we sent $2.2 trillion in taxes to the federal
government this year. By comparison, job creators spend nearly as much
annually to comply with bureaucratic mandates.
"'Entrepreneurs here are forced to test promising medical devices in
costly animal studies for years before they can advance their products
into
clinical trials,' Scott Gottlieb writes in The Wall Street Journal.
'This is no way to run a regulatory process if the FDA is serious about
promoting
medical innovation and advancing the public health.'
"FDA overregulation is killing the medical device and drug innovation
sectors
in the United States, and this is but one example of how government
regulation is stifling American innovation and competition.
"I
will repeal massive government overregulation, beginning with the
Environmental Protection Agency that is killing thousands of United
States jobs. That is the first step in legalizing American Energy
Production and creating 1.4 million jobs. We already have an EPA in
each state today.
"This past week I returned to Washington to vote for one of the
components of my American Jobs, Right Now economic recovery plan,
finalizing
free trade agreements that the president could have passed years ago,
but chose not to.
"The benefits of American leadership to
open global markets in the past half-century have been enormous – a
total of $1 trillion higher income every year or nearly $3,500 for
every
man, women and child in America. The advocates of bigger government
could try to spend twice that much and not accomplish one-half the
good.
"I have always believed in the power of the American people, and the
importance of keeping marginal tax rates low. I've observed first
hand the tax reform the economic geniuses in Washington can dream up
doesn't begin to match the prosperity generated by pursuing private
opportunities. The failure to seek new markets is a tax on the American
dream.
"We can look around and see the fruits of bringing
down barriers to trade – it has helped keep inflation under control,
interest rates low, and made many goods more affordable to lower- and
middle-income consumers.
"My American Jobs, Right Now solutions call for repatriating over 1.2
trillion American dollars from
overseas; massively cutting federal spending by eliminating government
agencies and the size of government; repealing Obamacare in its
totality—the government takeover of our healthcare system; cutting
taxes on investment and productivity, including corporate taxes;
repealing
the Job and Housing Destruction Act, better known as Dodd-Frank in its
totality; repealing $1.8 trillion in annual job killing regulations;
increasing
exports by finalizing free trade agreements; spurring new investment in
America; inspiring innovation; and legalizing American energy
production,
including decreased regulations on developing new energy supplies from
our abundant domestic energy resources; and finally enforce America's
immigration laws—ending taxpayer benefits and magnets to illegal aliens
and their children.
"When the government borrows 43
cents of every dollar it spends you know we're choosing an economic
train wreck. Which is why Admiral Mullen said, our national debt has
profound
national security implications.
"John Adams recognized that at critical times in history, a generation
is required to set aside
its preferred pursuits and embrace the sacrifices needed to secure the
blessings of liberty for the next generation.
"We saw it
happen with Adams' own generation, the founders who put everything on
the line and everything they owned to form a new kind of government,
one founded
on the consent of the people, and one dedicated to the proposition that
all men are created equal, and endowed by their Creator with certain
inalienable rights. This is our nation's creed.
"Americans have always looked forward to new opportunities, and
embraced new
challenges, and we can do so again to leave a better country for our
posterity.
"We can restore United States' competitiveness,
but to do so we must constrain the reach of government and protect the
rights our founders gave their last full measure of devotion to ensure.
May
each one of us as true servants of the people and most assuredly of our
blessed constitution go, and do likewise.
"Bill Gates said,
'During the past 30 years, U.S. innovation has been the catalyst for
the digital information revolution. If the United States is to remain a
global
economic leader, we must foster an environment that enables a new
generation to dream up innovations. Talent in this country is not the
problem
– the issue is political will.'
"Answering great challenges is nothing new to America. It's what we do.
We created the
technology that landed man safely on the moon not because it was easy
but because it was hard. We've sent space probes to explore the distant
reaches
of the universe. We harnessed nuclear energy, mapped the human genome,
created the Internet and pioneered integrated circuits that possess the
computing power of Apollo spacecraft on a single silicon chip you can
barely see.
"We can once again be the leader in global
competitiveness. America's time has not passed, only the baton of
responsibility has passed to the next generation of 'Steve Jobs' and
the next
generation of leaders needed to create the competitive economic culture
they need to flourish. I am ready to meet those challenges and do the
hard
work necessary to restore America to the economic leader it can be for
America's children—your children, my children.
"God bless you and God bless the United States of America."