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Press Release - 'Serious,' 'Direct' Gingrich Takes Aim at Taxes -- Daily Times Herald

May 20, 2011

"Days into a presidential campaign, and speaking to about 100 people in Carroll Thursday afternoon, Georgia Republican Newt Gingrich called for major tax-system overhaul and promised to sign a raft of executive orders downsizing government in his first hour as commander in chief if elected in 2012.

In a town-hall style event at the Santa Maria Winery, Gingrich, the former speaker of the U.S. House, outlined five major tax changes he said would help resuscitate an economy with 9 percent unemployment and 15 percent underemployment.

'I think the greatest challenge we face is jobs and the economy, and I think people underestimate how big a challenge this is,' Gingrich said.

Gingrich, who affably posed for photos with well-wishers after his event, spent no time warming up the crowd with anecdotes or jokes, and instead launched immediately into policy.

Specifically, Gingrich called for no new tax increases in 2013, a zero rate on capital gains, the elimination of the inheritance tax, a reduction of the 35 percent corporate tax rate to 12.5 percent and an aggressive plan to allow for machinery and equipment write-offs.

Gingrich said zeroing out capital-gains taxes would result in 'breathtaking' domestic and foreign investment in the United States to open factories and create jobs.

'You'd overnight have an explosion of new opportunity,' Gingrich said.

Some of his strongest language in the Carroll appearance related to inheritance taxes.

'It is the most destructive tax we have culturally,' Gingrich said.

He added, 'Nobody should be forced to go to the undertaker and the IRS in the same week.'

The line drew some of the most sustained applause at the Carroll event."

The full article

Newt Gingrich, Press Release - 'Serious,' 'Direct' Gingrich Takes Aim at Taxes -- Daily Times Herald Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/298371

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