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Republican debate transcript and video October 18,2011(Part 2)

Republican debate transcript and video October 18,2011(Part 2)

Aired October 18, 2011 – 20:00   ET

COOPER: I want to bring in Congresswoman Bachmann since she was referenced by you.

BACHMANN: But Anderson, how do you not have a value-added tax? Because at every level of production you have a profit, and that profit gets taxed, because you produce one portion at one level, and then you take it to the next supplier or vendor at the next level, and you have an exchange. That is a taxable event.

And ultimately, that becomes a value-added tax. It’s a hidden tax. And any time the federal government needs revenue, they dial up the rate and the American people think that it’s — that it is the vendor that creates the tax, but it’s the government that creates the tax.

(APPLAUSE)

COOPER: Governor Perry, in your state, you have a 6.25 percent sales tax. Would taxpayers pay more under the 9-9-9 plan?

PERRY: No.

Herman, I love you, brother, but let me tell you something, you don’t need to have a big analysis to figure this thing out. Go to New Hampshire, where they don’t have a sales tax, and you’re fixing to give them one.

They’re not interested in 9-9-9. What they’re interested in is flatter and fairer. At the end of the week, I’m going to be laying out a plan that clearly — I’ll bump plans with you, brother, and we’ll see who has the best idea about how you get this country working again.

And one of the ways, right here in Nevada you’ve got 8-plus percent. You want nine cents on top of that, and nine cents on a new home — or 9 percent on a new home, 9 percent on your Social Security, 9 percent more?

I don’t think so, Herman. It’s not going to fly.

COOPER: Mr. Cain, 30 seconds.

(APPLAUSE)

CAIN: This is an example of mixing apples and oranges. The state tax is an apple. We are replacing the current tax code with oranges. So it’s not correct to mix apples and oranges.

Secondly, it is not a value-added tax. If you take most of the products — take a loaf of bread. It does have five taxes in it right now. What the 9 percent does is that we take out those five invisible taxes and replace it with one visible 9 percent.

So you’re absolutely wrong. It’s not a value-added tax.

Now one other quick thing.

COOPER: Your time’s up, I’m sorry.

CAIN: This whole thing about –

COOPER: You’ll have another 30 seconds. Trust me, they’re going to go –

CAIN: Tonight?

COOPER: Yes, I guarantee it. In about a minute.

Congressman Paul, you called his plan dangerous today.

PAUL: Oh, it is, because it raises revenues, and the worst part about it, it’s regressive. A lot of people aren’t paying any taxes, and I like that. I don’t think that we should even things up by raising taxes.

So it is a regressive tax. So it’s very, very dangerous. And it will raise more revenues.

But the gentlemen asked the question — he didn’t even ask what we’re talking about. He asked the question, what are you going to replace the income tax with? And I say nothing. That’s what we should replace it with.

(APPLAUSE)

PAUL: But I do want to make a point that spending is a tax. As soon as the governments spend money, eventually it’s a tax. Sometimes we put a direct tax on the people. Sometimes we borrow the money. And sometimes we print the money.

And then when prices go up, like today, the wholesale price index went up 7 percent rate, and if you look at the free market, prices are going up 9 and 10 percent. So that is the tax.

So, spending is the tax. That is the reason I offered the program, to cut $1 trillion out of the first year budget that I offer.

(APPLAUSE)

COOPER: Mr. Cain, in 30 seconds?

CAIN: Once again, unfortunately, none of my distinguished colleagues who have attacked me up here tonight understand the plan. They’re wrong about it being a value-added tax.

We simply remove the hidden taxes that are in goods and services with our plan and replace it with a single rate 9 percent. I invite every family to do your own calculations with that arithmetic.

COOPER: Governor Romney, you have your only 59-point plan. In the last debate, Mr. Cain suggested it was too complicated. Is simpler better?

ROMNEY: Oftentimes simpler is better. And I know we’re not supposed the ask each other questions, but if you permit.

Herman, are you saying that the state sales tax will also go away?

CAIN: No, that’s an apple.

ROMNEY: OK.

CAIN: We’re replacing a bunch of oranges.

ROMNEY: OK.

So, then Governor Perry was right that –

CAIN: No, he wasn’t. He was mixing apples and oranges.

ROMNEY: Well, but will the people in Nevada not have to pay Nevada sales tax and in addition pay the 9 percent tax? CAIN: Governor Romney, you’re doing the same thing that they’re doing. You’re mixing apples and oranges. You’re going to pay –

ROMNEY: I’m –

CAIN: No, no, no, no. You’re going to pay the state sales tax, no matter what.

ROMNEY: Right.

CAIN: Whether you throw out the existing code and you put in our plan, you’re still going to pay that. That’s apples and oranges.

ROMNEY: Fine. And I’m going to be getting a bushel basket that has apples and oranges in it because I’ve got to pay both taxes, and the people in Nevada don’t want to pay both taxes.

(CHEERING AND APPLAUSE)

ROMNEY: Now let me make this comment. Let’s just step back here. We’ve got a lot of people in America that are out of work. We’ve got a lot of people in this state, 13.4 percent of the people in this state out of work. We’ve got home prices going down. We’ve got to talk about how to get America growing again, how to start adding jobs, raising incomes, and tax is part of it.

I want to reduce taxes on our employers to make it easier to invest in America. I want to reduce taxes on middle income families. I like your chutzpah on this, Herman, but I have to tell you, the analysis I did, person by person, return by return, is that middle income people see higher taxes under your plan.

If it’s lower for the middle class, that’s great. But that’s not what I saw. I have to tell you, I want to get our burden down on our employers, on our people. I want to make sure our regulations work to encourage the private sector as opposed to putting a damper on it.

I want to get trade, opening up new markets for America. I want to also find a way to get our energy resources — and they’re all over the world, are all over this country, used for us. This is time to get America growing again. And that’s what this campaign ought to be about.

COOPER: Thank you, Governor.

Mr. Speaker…

(CHEERING AND APPLAUSE)

COOPER: Speaker Gingrich, you have said in recent days that Mr. Cain’s 999 plan would be a harder sell than he lets on. How so?

GINGRICH: Well, you just watched it.

(LAUGHTER) GINGRICH: I mean, look, there are — first of all, I think that Herman Cain deserves a lot of credit. He has had the courage to go out and take a specific very big idea at the right level.

(APPLAUSE)

GINGRICH: And he has us at least talking about something that matters as opposed to the junk that all too often is masquerading as politics in this country. So I think that’s important.

There are two parts to this. The first is, if you take his plan, and I think it’s in the interest of the whole country to have serious people take his plan and go through it step by step. There are much more complexities than Herman lets on. OK. I mean, 999, when you get into details like you pay it on a new product, you don’t pay it on an old product, et cetera, there’s a lot more detail here than he lets on.

Second, I favor very narrow, focused tax cuts such as zero capital gains, 100 percent expensing, because I think, as Governor Romney said, jobs are the number one challenge of the next two or three years. Get something you can do very fast. Change on this scale takes years to think through if you’re going to do it right.

COOPER: Congresswoman Bachmann, you said in the last debate that everyone should pay something. Does that mean that you would raise taxes on the 47 percent of Americans who currently don’t pay taxes?

BACHMANN: I believe absolutely every American benefits by this magnificent country. Absolutely every American should pay something, even if it’s a dollar.

(CHEERING AND APPLAUSE)

BACHMANN: Everyone needs to pay something in this country. That’s why with my tax plan, I take a page out of not theory but what’s provable and what works. What is provable and what works was the economic miracle that was wrought by Ronald Reagan in the 1980s. That’s the plan that I look at.

I also want to completely abolish the tax code. I want to flatten the tax for all of Americans, simplify that tax for all of Americans. And that creates job growth, which is exactly what we need to have.

Because to be able to fuel the fire for this economy, again, it is the tax code, but it doesn’t end with the tax code. It’s the regulatory burden that costs us $1.8 trillion every year, but it’s more than that cost. It’s jobs that are lost.

So we need to repeal “Obama-care,” repeal the jobs and housing destruction act known as Dodd-Frank. President Obama’s plan has been a plan for destruction of this economy and failure.

COOPER: Thank you.

BACHMANN: I plan to change that with real jobs right now at michelebachmann.com.

(APPLAUSE)

COOPER: We’ve been talking about Herman Cain’s plan. Let’s talk about Governor Romney’s plan.

Governor Perry, you have said that Governor Romney was an abject failure at creating jobs when he was governor of Massachusetts. If you’ve read his 59-point plan, has it changed your mind?

PERRY: Well, here’s the nine that we need to get focused on. And it’s not 999, it’s not 59. It’s that 9 percent unemployment in this country. And that’s where we’ve got to get focused in America, is how to create an environment where the men and women get back to work.

It’s the reason I laid out a plan, Newt, this last week to get this energy that’s under our feet. We’ve got 300 years of resources right under our feet in this country. Yet we’ve got an administration that is blockading our ability to bring that to the surface, whether it’s our petroleum, our natural gas, or our coal. And 1.2 million jobs could be put to work.

Americans who are sitting out there listening to this conversation tonight, somebody wants someone on this stage to say: Listen, we got an idea here how to get you to work and take care of your family and have the dignity of a job. And that’s exactly what I did with my plan, laid it out where Americans understand we don’t have to wait on OPEC anymore. We don’t have to let them hold us hostage. America’s got the energy. Let’s have American energy independence.

(APPLAUSE)

COOPER: Governor Romney, does Governor Perry have the answer?

ROMNEY: Well, he’s absolutely right about — about getting energy independence and taking advantage of our natural resources here. We’re an energy-rich nation that’s acting like an energy-poor nation. And that’s something I’ve been talking about for some time, as the governor has. He’s absolutely right.

But there are also a lot of good jobs we need in manufacturing, and high-tech jobs, and good service jobs, technology of all kinds. America produces an economy that’s very, very broad. And that’s why our policy to get America the most attractive place in the world for investment and — and job growth encompasses more than just energy. It includes that, but also tax policy, regulatory policy, trade policy, education, training and balancing the federal budget, and that starts with repealing Obamacare, which is a huge burden on this economy.

(APPLAUSE)

COOPER: Senator Santorum, does Mitt Romney have the answers for jobs? SANTORUM: I agree with — with all of what Governor Romney and both — and Governor Perry said. I would add the fact that — that I’ve put forward the plan that’s going to allow for income mobility. That’s a new term, but I’ve been using it for a long time, which is people at the bottom part of the income scale being able to rise in society.

Believe it or not, studies have been done that show that in Western Europe, people at the lower parts of the income scale actually have a better mobility going up the ladder now than in America. And I believe that’s because we’ve lost our manufacturing base. No more stamp “Made in America” is really hurting people in the middle.

And that’s why I focus all of the real big changes in the tax code at manufacturing. I cut the corporate rate for manufacturing to zero, repeal all regulations affecting manufacturers that cost over $100 million and replace them with something that’s friendlier, they can work with. We repatriate $1.2 trillion that manufacturers made overseas and allow them to bring it back here, if they invest in plants and equipment. They can do it without having to pay any — any excise tax.

The final point I would make to Governor Romney, you just don’t have credibility, Mitt, when it comes to repealing Obamacare. You are — you are — your plan was the basis for Obamacare. Your consultants helped Obama craft Obamacare. And to say that you’re going to repeal it, you just — you have no track record on that that — that we can trust you that you’re going to do that.

COOPER: Governor Romney, 30 seconds.

(APPLAUSE)

SANTORUM: You don’t.

ROMNEY: You know, this I think is either our eighth or ninth debate. And each chance I’ve — I’ve had to talk about Obamacare, I’ve made it very clear, and also in my book. And at the time, by the way, I crafted the plan, in the last campaign, I was asked, is this something that you would have the whole nation do? And I said, no, this is something that was crafted for Massachusetts. It would be wrong to adopt this as a nation.

SANTORUM: That’s not what you said.

ROMNEY: You’re — you’re shaking — you’re shaking your head.

SANTORUM: Governor, no, that’s not what you said.

ROMNEY: That happens — to happens to be…

(CROSSTALK)

SANTORUM: It was in your book that it should be for everybody.

ROMNEY: Guys… PERRY: You took it out of your book.

SANTORUM: You took it out of your book.

ROMNEY: Hey, his turn. His turn, OK, and mine.

(CROSSTALK)

ROMNEY: I’ll tell you what? Why don’t you let me speak?

(CROSSTALK)

SANTORUM: You’re allowed — you’re allowed to change — you’re allowed to change…

ROMNEY: Rick, you had your chance. Let me speak.

SANTORUM: You can’t change the facts.

ROMNEY: Rick, you had your chance. Let me speak.

SANTORUM: You’re out of time. You’re out of time.

COOPER: He ate into your time.

(BOOING)

Rick…

(CROSSTALK)

ROMNEY: I haven’t had a chance to respond yet, because you were interrupting the entire time I was trying to speak.

(CROSSTALK)

ROMNEY: Let me make it very clear.

COOPER: I’ll give another 20 seconds.

ROMNEY: And — look — look, we’ll let everybody take a look at the fact checks. I was interviewed by Dan Balz. I was in interviews in this debate stage with you four years ago. I was asked about the Massachusetts plan, was it something I’d impose on the nation? And the answer is absolutely not.

It was something crafted for a state. And I’ve said time and again, Obamacare is bad news. It’s unconstitutional. It costs way too much money, a trillion dollars. And if I’m president of the United States, I will repeal it for the American people.

(APPLAUSE)

COOPER: All right. Senator Santorum?

SANTORUM: Mitt, the governor of Massachusetts just is coming forward saying we have to pick up the job left undone by Romneycare, which is doing something about cutting health care costs.

What you did is exactly what Barack Obama did: focused on the wrong problem. Herman always says you’ve got to find the right problem. Well, the right problem is health care costs. What you did with a top-down, government-run program was focus on the problem of health care access. You expanded the pool of insurance…