Presidential hopeful Rick Santorum says the quickest way to create new American jobs is to eliminate the 35 percent corporate tax on manufacturers who produce products in the United States. The former Pennsylvania senator also told Greta Van Susteren Tuesday taxes on companies that have moved overseas should be reduced to 5 percent so their profits can bolster the American Economy.
“What I’ve proposed is to take the corporate tax, which is 35 percent on manufacturers, and cut that to zero — eliminate the corporate tax if you manufacture and process here in this country — that will bring a lot of those jobs back,” Santorum said.
“Combine that with a plan that says if you are a manufacturer that actually did export jobs and created things and built things overseas and you made profits — most companies have not brought those profits back because you get hit with a 35 percent additional tax when you bring them back,” he continued. “Let’s cut that from 35 percent to 5; bring that money back and invest that in America.”
Van Susteren asked Santorum to what extent does America’s faltering economy impact the nation’s standing in the world.
“Well, no question that America's might is related to our economic might, and then when we suffer economically — and we’re now looking at whether America is going to remain the largest economy in the world — that has an impact on America's influence on the world,” Santorum said. “And you know, it’s not just our military might and it’s not just our economic might — it’s also . . . the culture that we have.
“You know, all the components of America matter to the standing we have — to the respect to that we have in the international community,” he said. “People want to come to America not just because of our economic might but because of our freedom, because of vibrancy of our culture and our religion — I mean, all of these things are very, very important. The whole is important in projecting that American exceptionalism.”
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