The Palin Plan to Rescue the U.S. Economy

A bona-fide pro-working man’s plan to empower the job-creators
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In her speech to a TEA Party gathering in Iowa Saturday, Sarah Palin outlined a five-point plan to Revive, Renew, and Restore the American economy and allow the nation's real job creators to put the country back to work. Here's an excerpt of the Palin Plan taken from the full transcript of her address, as posted at SarahPAC.com:

So, let’s talk about real solutions. I want to tell you what my plan is. My plan is a bona-fide pro-working man’s plan, and it deals in reality. It deals in the way that the world really works because we must talk about what really works in order to get America back to work.

My plan is about empowerment: empowerment of our states, empowerment of our entrepreneurs, most importantly empowerment of you – our hardworking individuals – because I have faith, I have trust, I have respect for you.

The way forward is no more politics as usual. We must stop expanding an out-of-control and out-of-touch federal government. This is first: All power not specifically delegated to the federal government by our Constitution is reserved for the states and for we the people. So, let’s enforce the 10th Amendment and devolve powers back locally where the Founders intended them to be.

Second, what happened to all those promises about staying committed to repealing the mother of all big government unfunded mandates? We must repeal Obamacare! And rein in burdensome regulations that are a boot on our neck. Get government out of the way. Let the private sector breathe and grow. This will allow the confidence that businesses need in order to expand and hire more people.

Third, no more run away debt. We must prioritize and cut. Cancel unused stimulus funds, and have that come to Jesus moment where we own up to the debt challenge that is entitlement reform. See, the reality is we will have entitlement reform; it’s just a matter of how we’re going to get there. We either do it ourselves or the world’s capital markets are going to shove it down our throats, and we’ll have no choice but to reform our entitlement programs. The status quo is no longer an option. Entitlement reform is our duty now, and it must be done in a way that honors our commitment to our esteemed elders today, while keeping faith with future generations. I don’t think anything has irked me more than this nonsense coming from the White House about maybe not sending our seniors their checks. It’s their money! They have paid into Social Security all of their working lives; and for the President to say, “ah, we may not be able to cut their checks,” ah, well, where did all their money go, politicians? It’s like the Commander-in-Chief being willing to throw our military under the bus by threatening that their paychecks may not arrive. But the politicians will still get their checks and their secure retirements, and he’ll still get his posh vacations. Aren’t you just sick to death of those skewed priorities? It’s all backwards. Our seniors and our brave men and women in uniform being used as pawns – I say it’s shameful, and enough is enough. No more.

Fourth, it is time for America to become the energy superpower. The real stimulus that we’ve been waiting for is robust and responsible domestic energy production. We have the resources. Affordable and secure energy is the key to any thriving economy, and it must be our foundation. So, I would do the opposite of Obama’s manipulation of U.S. supplies of energy. Drill here, drill now. Let the refineries and the pipelines be built. Stop kowtowing to foreign countries and dictators asking them to ramp up production and industry for us, promising them that we’ll be their greatest customer. No, not when we have the resources here. We need to move on tapping our own God-given natural resources. I promise you that this will bring real job growth, not the politicians’ phony “green jobs” fairy dust sprinkled with wishes and glitter… No, a hardcore all-of-the-above energy policy that builds this indestructible link between made-in-America energy and our prosperity and our security. You know, there are enough large conventional natural resource development projects waiting for government approval that could potentially create more than a million high-paying jobs all across the country. And this is true stimulus. It wouldn’t cost government a dime to allow the private sector to do these. In fact, these projects will generate billions of dollars in revenue. Can you imagine that: a stimulus project that actually helps dig us out of debt instead of digging us further into it! And these are good-paying jobs, and I know that from experience. For years my own family was supported (as Todd worked up on the North Slope) by a good energy sector job. America’s economic revival starts with America’s energy revival.

Fifth, we can and we will make America the most attractive country on earth to do business in. Here’s how we’re going to do this. Right now, we have the highest federal corporate income tax rate in the industrialized world. Did you know our rates are higher than China and communist Cuba? This doesn’t generate as much revenue as you would think, though, because many big corporations skirt federal taxes because they have the friends in D.C. who right the rules for the rest of us. This makes us less competitive and restrains our engine of prosperity. Heck, some businesses spend more time trying to figure out how to hide their profits than they do in generating more profits so that they can expand and hire more of us. So, to make America the most attractive and competitive place to do business, to set up shop here and hire people here, to attract capital from all over the globe that will lead to an explosion of growth, instead of chasing industry offshore, I propose to eliminate all federal corporate income tax. And hear me out on this. This is how we create millions of high-paying jobs. This is how we increase opportunity and prosperity for all.

But here’s the best part: To balance out any loss of federal revenue from this tax cut, we eliminate corporate welfare and all the loopholes and we eliminate bailouts. This is how we break the back of crony capitalism because it feeds off corporate welfare, which is just socialism for the very rich. We can change all of that. The message then to job-creating corporations is: We’ll unshackle you from the world’s highest federal corporate income tax rate, but you will stand or fall on your own, just like all the rest of us out on main street.

See, when we empower the job-creators, our economy will soar; Americans will get back to work.

This plan is a first step in a long march towards fundamental restoration of a strong and free market economy. And it represents the kind of real reform that we need.

Read the full transcript of Gov. Palin's speech at SarahPAC.com.

- JP