Economy

Salt Lake Tribune: Huntsman pitches wholesale tax overhaul

"Democrats also pointed to the former Utah governor’s family-owned Huntsman Corp., which now has a majority of employees overseas. Of the company’s 12,000 employees, BusinessWeek recently reported, only 2,174 are in the United States while some 1,100 are in China. "Desperately flailing to gain any type of traction in the race, Jon Huntsman is out today pushing ‘Made In America.’ But with him, it is ‘Made in China’ that has made him millions," says Ty Matsdorf, a spokesman for the liberal group, American Bridge 21st Century. "This appears to be just one more desperate attempt to breathe some much needed life into a floundering campaign."

AP: Huntsman offers tax, trade plan to create jobs

On August 31, 2011, the Associate Press reported:

"The location of the announcement and emphasis on American manufacturing prompted critics to challenge Huntsman's record at the Huntsman family business. Huntsman Corp., a chemical company, employs far more workers overseas than in the United States.

Huntsman's campaign conceded that fact, but said the jobs plan would improve the business climate in this nation and help Huntsman Corp. and other businesses hire more American workers.

That did little to quiet Democratic criticism.

"It's ironic that Huntsman is pushing 'Made in America' so hard when 'Made in China' has made him millions," said Ty Matsdorf, spokesman for American Bridge, a political group allied with Democrats. "Desperately flailing to gain any type of traction in the race, apparently he will try anything to breathe some much needed life into a floundering campaign."

PolitiFact Virginia: Allen says he reined in state spending as governor

On August 22, 2011 PolitiFact Virginia reported:   Republican George Allen is promising his unrelenting effort to curb federal spending…

Rick Perry Compares Civil Rights Movement To Lower Taxes And Deregulation

At an August 20, 2011 meet and greet at the Old Town Bistro in Rock Hill, South Carolina, Gov. Rick Perry seemingly likened the struggles of the civil rights movement to fighting for lower taxes and deregulation. As AMERICAblog's Kombiz Lavasany wrote, "The statement is historically inaccurate, Martin Luther King Jr. fought for unions and regulations."

MEMO: Rick Perry: The Great Campaigner?

Last week, Texas Governor Rick Perry burst onto the GOP Presidential scene, managing to step all over the Ames straw poll by making his official announcement the same day.

By waiting until after the straw poll to enter the race, Perry avoided answering the tough questions that voters care about. Rather than use his first week in the race to show Americans where he stands on today's most pressing issues, he upstaged himself with a series of gaffes and extreme statements, revealing that he's just not ready for prime time.

Washington Post: Bachmann On Why She Worked For IRS: "First Rule Of War Is 'Know Your Enemy'"

On August 18, 2011, the Washington Post reported:

"This is fun. Michele Bachmann, on the campaign trail today, offered what seems to be a new explanation for her previous work as a lawyer for the Internal Revenue Service, something that has drawn some ire from the right. Her explanation: She worked for the IRS as a kind of secret anti-tax mole whose mission was to get to know the place in order to better undermine it later. As she put it: “The first rule of war is `know your enemy.’” This explanation seems a bit at odds with descriptions of the episode she’s given on previous occasions, when she’s said her anti-tax fervor was the result of her work for the IRS. This version on the trail explains her work for the IRS — which spanned four years, from 1988-1992 — in a way that will be more acceptable to hard-core anti-tax conservatives." BACHMANN: “We change the economy by changing the tax code. How many of you love the IRS? No! It’s time to change it. I went to work in that system because the first rule of war is ‘know your enemy.’ So I went to the inside to learn how they work because I wanted to beat them.”

WSJ: GOP Candidates: Too Many Americans Pay No Taxes

On August 17, 2011, the Wall Street Journal reported:

"A new orthodoxy has emerged in recent days on taxes: Not enough people are paying them.

[...]

And Democrats are starting to take notice.

“Republicans are falling over themselves to protect millionaires and billionaires, and now it is clear that their presidential front runners are eager to raise revenue by taxing those who are struggling day in and day out to make ends meet,” said Ty Matsdorf of American Bridge 21^st Century, a new Democratic independent expenditures group tracking the GOP candidates."

MEMO: Unanswered Questions From The GOP Debate / Rick Perry Joins The Race

Thursday night, the Republican candidates for President took the stage for a debate in Iowa.

Though the proceedings were overshadowed by Rick Perry, who is following in Fred Thompson's footsteps as the GOP's "next big thing," there was a moment in the debate which provided perhaps the most important insight into the current state of the Republican Party. Each of the candidates raised their hand to indicate that they would walk away from any compromise legislation that included revenue, even at a 10:1 ratio in favor of spending cuts. This should not be considered a surprise considering the brinksmanship of Republican candidates who have used extreme rhetoric advocating default or dangerous economic policies to push our economy over the edge.

With that said, here are the questions that we’re still waiting for Republican candidates to answer, after the jump.

MEMO: Some Things To Consider As You Cover Rick Perry

Like his campaign predecessors Fred Thompson and Jon Huntsman, Gov. Rick Perry’s imminent announcement has inspired buzz and high expectations. Dissatisfied Republicans are in a frenzy over the GOP’s “next big thing.” Unfortunately though they fail to look past the glamour of a budding campaign and see who the candidate really is. We know political journalists will not do the same. Just as Fred Thompson failed to live up to the mythology surrounding his candidacy, America will soon discover Rick Perry is not what he seems. When the excitement around Perry inevitably dies down, as it did with Huntsman, an inherently flawed candidate will emerge. After the jump, some basic information to help guide you as you write about Rick Perry’s record in Texas, along with some important questions we hope this new presidential candidate will answer in the very near future.

Rick Perry: Jobs Wizard?

Rick Perry is quick to tout his state’s job growth on the campaign trail, but the real story of the Texas jobs “miracle” is decidedly mixed. The state’s private sector job growth has been far outpaced by the Texas government, and many new positions are low-paying and lack benefits: Texas is tied with Mississippi for the highest percentage of low-wage workers in the country. The state also boasts a variety of natural advantages not easy replicated, ranging from its oil and natural gas reserves to a massive border with Mexico. And Perry’s primary economic incentive tools as governor – the Texas Enterprise Fund and Emerging Technology Fund – have issued grants to businesses owned by Perry’s political donors even when they fail to create jobs. View the supporting research after the jump.