In a Tuesday speech on economic policy, 2012 Presidential hopeful Tim Pawlenty took President Barack Obama to task. The former Minnesota Governor chose Obama’s hometown, Chicago, for his first speech as an official candidate for the Republican nomination for the Presidency.
“Regrettably, President Obama is a champion practitioner of class warfare. Elected with a call for unity and hope, he has spent three years dividing our nation, fanning the flames of class envy and resentment to deflect attention from his own failures and the economic hardship they have visited on America,” Pawlenty said, according to speech excerpts made available on his campaign website.
Pawlenty suggested cutting spending by eliminating unnecessary government programs by using what he called “The Google Test.”
“If you can find a good or service on the Internet, then the Federal government probably doesn’t need to be doing it,” Pawlenty said. “The post office, the government printing office, Amtrak, Fannie and Freddie were all built for a time in our country when the private sector did not adequately provide those products. That’s no longer the case.”
Pawlenty also advocated sweeping tax reforms, for both individuals and businesses.
“On the individual rates we need a simpler, fairer, flatter tax system overall. I propose just two rates: 10 percent and 25 percent. Under my plan, those who currently pay no income tax would stay at a zero rate. After that, the first $50,000 of income — or $100,000 for married couples — would be taxed at 10 percent. Everything above that would be taxed at 25 percent. That’s it,” Pawlenty said.
Pawlenty also suggested that economic growth should be fueled by fewer restrictions on entrepreneurship.
“The United States is still home to the most dynamic and entrepreneurial people in the world. They’re all around us, ready to innovate, invest, compete and create new businesses and jobs. That will mean opportunities for everyone. They have been discouraged and weighed down by President Obama’s big government and heavy-handed regulations,” Pawlenty said.