Gingrich: Tax Increase 'Socialist Economics'

Wednesday, 29 Jun 2011 06:17 AM

By Hiram Reisner

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Former House Speaker Newt Gingrich says the GOP should equate the time frame of raising the debt ceiling with the amount of spending Democrats are willing to cut from the budget. The presidential hopeful also told Fox News’ Greta Van Susteren Tuesday that a tax increase at this time “is truly socialist economics.”
“Republicans ought to say we’ll accept the cuts the Democrats have offered — whatever that number — and we’ll raise the debt ceiling the amount the Democrats are prepared to cut. That might be three months, two months, whatever,” Gingrich said. “Let the Democrats decide how long the debt ceiling is going to last by the amount they are willing to cut. With 14 million people unemployed, to have a tax increase to further weaken the economy is truly socialist economics. It makes no sense at all in this country to raise taxes right now.”
America needs a dramatic economic growth package to get people back to work “because nothing will do more to balance the budget than getting people to work,” Gingrich said.
“If the Republicans are calm and cheerful the president will sign a spending-cut-only bill,” he said. “Democrats are faced with a real crisis. The president is about to preside over the United States defaulting on its debt — he can’t do that. So he is going to have to in the end agree to something. The Republicans are in a position to say they are very happy to avoid a default if he will sign a spending-cut bill.”

When Van Susteren asked Gingrich whether the Democrats will still press loopholes should be removed from wealthy taxpayers, he repeated a contention that has caused him problems in the past:

“If you are the Republicans you should say we have more people on food stamps today than ever before in history — President Obama is the most successful food stamp president in American history,” he said. “We need a program to put 14 million Americans back to work. We are committed to creating jobs. The Democrats are committed to killing jobs. You decide which future you want — paychecks or food stamps.”

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Cambodia HIV Outbreak: 100-Plus People Diagnosed; Investigation Sought

Friday, 19 Dec 2014 18:50 PM

More than 100 HIV infections in a single Cambodian village have spurred the country's prime minister to ask for an inves . . .

Slender Man Case: Two Girls Competent to Stand Trial in Stabbing

Friday, 19 Dec 2014 18:26 PM

Two girls who allegedly stabbed a 12-year-old friend over the online game Slender Man are competent to stand trial for a . . .

Kate Upton Sexiest Woman Alive; Model Apologizes to Teen Brother

Friday, 19 Dec 2014 17:52 PM

Model Kate Upton was selected as People magazine's first Sexiest Woman Alive, a month after Chris Hemsworth received the . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved