Santorum releases economic policy plan, touts it in Iowa
November 18th, 2011
05:02 PM ET
3 years ago

Santorum releases economic policy plan, touts it in Iowa

Washington, Iowa (CNN) - Republican presidential candidate Rick Santorum released his economic policy plan on Friday and touted its proposals in various appearances in Iowa.

As some of his GOP rivals sell their plans with catchy names - such as Herman Cain's "9-9-9" plan or Texas Gov. Rick Perry's "Cut, Balance and Grow" – Santorum has simply titled his, "Made in America."

"It's a plan that may not have the sexy sales piece, may not have the bouffant haircut, but we're the guy that's going to deliver a plan and an economy that people want to live with," Santorum told CNN after describing its details to a group of about 20 people at a campaign event in the Southeastern Iowa city of Washington.

"This is the kind of plan that works. This is the kind of plan that makes sense," Santorum added. "This is the kind of plan that will be able to transform America economically, will be able to revitalize our manufacturing sector and stop all the jobs going overseas and bring a lot of those jobs back and have 'Made in America' stamped on things again."

Among the plan's proposals: reducing the nation's personal income tax rates to just two: 10% and 28%; eliminating both the Alternative Minimum Tax and the estate tax that conservatives deride as the "death tax;" dropping capital gains and dividend tax rates down to 12%; cutting corporate taxes from 35% to 17.5%; and eliminating corporate taxes for manufacturers.

Santorum also proposes a measure that many conservatives favor: passing a balanced budget amendment to the U.S. Constitution.

As the former senator from Pennsylvania played up "Made in America," he also gave Iowa special praise for helping to inspire it.

The candidate – who bests his GOP rivals by having visited all of the Hawkeye State's 99 counties - told the crowd his plan "focused on some of the things that I've learned as I've traveled around Iowa."

"One of the things I've learned is that most of the small towns in Iowa … there was some sort of manufacturing or processing facility that was the reason for the town to exist in the first place, or it was a railroad hub or some sort of center of commerce."

"A lot of those manufacturing facilities have left … many of them moved overseas because we were just not competitive anymore," Santorum continued. "The business wasn't competitive or America just made it too hard to make the product here in this country."

Any economic proposal, Santorum said, should not "focus all of our growth and energy on the big cities and service industries and financial services."

Santorum has been mired in low poll numbers in surveys for Iowa and in national polls. Yet he is confident his message and focus on the state will help in the first-in-the-nation caucuses on Jan. 3.

"Six weeks ago, either Rick Perry was on top or Herman Cain was on top. Now Newt Gingrich is on top. You've seen these kind of dynamic shifts because people are still very much undecided," Santorum said. "The cool thing is that a lot of folks haven't focused a lot of time and attention on us. I think that's going to happen in Iowa in the next six weeks."

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Filed under: Economy • Iowa • Rick Santorum
soundoff (19 Responses)
  1. eciam

    Go sell it to all the USA companies that are and going overseas!
    All those Bush tax cuts at work!

    November 18, 2011 05:11 pm at 5:11 pm |
  2. Former Republican, now an Independent

    All of these tax cuts have nice sound to them, but what Santorum hasn't said is, he can't run or defend the country on that amount of revenue.

    November 18, 2011 05:14 pm at 5:14 pm |
  3. eciam

    Among the plan's proposals: reducing the nation's personal income tax rates to just two: 10% and 28%; eliminating both the Alternative Minimum Tax and the estate tax that conservatives deride as the "death tax;" dropping capital gains and dividend tax rates down to 12%; cutting corporate taxes from 35% to 17.5%; and eliminating corporate taxes for manufacturers'

    And USA companies will still leave, all that penny labor.
    When overseas std of living is relative or equal to ours, "greed" will come home!

    November 18, 2011 05:19 pm at 5:19 pm |
  4. Cyrus

    His economic plan is as stupid as his name.

    November 18, 2011 05:20 pm at 5:20 pm |
  5. v_mag

    All these plans have one real name: "Shovel Money to the Rich".

    They might also be called "Impoverish America", but Repugnant candidates care so little for the 99% that it's irrelevant what effect the "plans" have on us.

    November 18, 2011 05:29 pm at 5:29 pm |
  6. gg

    made in america –i remember seeing that when i was a kid–now you only see it in a museum–thank you congress and senate

    November 18, 2011 05:30 pm at 5:30 pm |
  7. GeminiGirl

    Don't worry about Gingrich, he will be down in the polls shortly, then it will be your turn, and then Jon Huntsmann's turn. The "crazy clown" car is what Chris Matthews called it. All of the Republican candidates, except for Jon Hunstmann, are giving the Republican brand a bad name...too bad. Anyway, my vote is the for the current president. Yesterday the candidates were falling all over themselves, and also Rush Limpballs too, saying that the president had said that Amercicans were "lazy." That is NOT what he said! He was saying the US has gotten a bit lazy in in the last couple of decades in promoting foreigh investments in the US. Ahh! But typical, Repubs don't let the FACTS get in the way of a good story....

    November 18, 2011 05:33 pm at 5:33 pm |
  8. m

    Isn't amazing how tax cuts solve all problems possibly even Psoriasis. Has the CBO scored any of these Republicans plans? Just throwing numbers around because it plays well has no bearing on the actual outcome or if there is even enough revenue to pay for all the things Republicans love like weapons of mass destruction.

    So much for the Balanced Budget Amendment as that went down the tubes today. Another idiotic attempt by Republicans to solve a very complicated problem with a simpleton's solution.

    There are three things that will get the economy by on track, JOBS, JOBS, JOBS. Balancing the budget requires spending cuts and doing away with the Bush tax cuts which along with two unfunded wars that drove the economy in the ditch.

    November 18, 2011 05:40 pm at 5:40 pm |
  9. Sniffit

    And his ideological nonsense plan will get the same reaction as 9-9-9 and the rest of them: it put the federal gov't, including Medicare, Medicaid, SS and the rest of it, on a starvation diet that will result in the coplete and utter destruction of the societal safety net programs that helped create the middle-class in the first place, and will significantly accelerate the redistribution of the nation's wealth upwards to the already extremely wealthy, killing the middle class outright and attenuating the share of the nation's wealth enjoyed by approximately 95%-99% of us and the political power, voice and influence that go with it. You don't even need to see the math for this crap anymore: you should be able to recognize it at a glance at this point.

    November 18, 2011 05:43 pm at 5:43 pm |
  10. Sniffit

    More economic bulimia from a GOPer/Teatroll. Cut cut cut...just stick the proverbial finger down the federal gov't's throat and it'll magically lose the weight and look pretty again!!!

    November 18, 2011 05:46 pm at 5:46 pm |
  11. MTATL67

    OH LORD. It doesn't involve the pulling of peoples gold teeth or work camps, I hope.

    November 18, 2011 05:51 pm at 5:51 pm |
  12. Nestor

    This is better than what we have now, but there'll be little motivation to move into the 28% bracket. Let's say the cutoff for the 28% bracket is $300,000. Someone with a fairly successful business will do everything they can to not hit $300,000 unless they know they can hit $500,000. That's a huge jump for someone in one year. This plan is great for everyone except anyone who has aspirations to move up, and those are the people who create the bulk of the jobs. Sorry Rick, you either need to balance the rates a little more or work towards a flat tax.

    November 18, 2011 06:13 pm at 6:13 pm |
  13. pmk1953

    The problem wasn't that gov't made it too hard for businesses to stay in the U.S.. It was that gov't made it too easy and profitable for them to leave.

    November 18, 2011 07:00 pm at 7:00 pm |
  14. Anonymous

    We need to cut taxes and increase government spending to make up for lack of consumer spending in our economy.

    November 18, 2011 07:01 pm at 7:01 pm |
  15. ObamaCares

    Made in China is more like it: Nike, GE products, to name a few. Get a grip, loser.

    November 18, 2011 07:21 pm at 7:21 pm |
  16. ED FL

    Who and wwhere does this guy Santorum come from.the only Santorum I ever heard about is some flunky Senator that got kicked out of ofice by his state. Wonder what weirdo secrets this guy has hidden.

    November 18, 2011 07:26 pm at 7:26 pm |
  17. Slightly Left of Center

    If it weren't for the occasional story of him trying to act relevant, I would forget he was even running.

    November 18, 2011 07:30 pm at 7:30 pm |
  18. Reggie from LA

    Then along came Santorum. I guess he's next in line as the flavor of some period of time. Interesting, I find Gingrich to be the least likely person (other than Bachmann) to be considered for president. Monsters, with a capital "M". Santorum for president makes more sense than for the previously named pair. Mercy! What did I say? What a mess. And there's a guy in the White House trying to do things to get our nation moving and we are actually spending time contemplating trying to get one of these _____ (Can't say it)...things into office. OMG!! Sorry Rick, go off on a Bachmann-like tangent.

    November 18, 2011 07:31 pm at 7:31 pm |
  19. lgny

    Interesting how the plan makes no mention of what will be cut to pay for all these tax reductions. He'll save the bad news for after he's elected. To pay for all of these AND balance the budget, the Federal govt. will be reduced to a single office and military bases all over the place (he'll never cut the DOD budget).

    November 18, 2011 07:42 pm at 7:42 pm |