Club Responds to President's Economic Report

Andrew Roth - February 12th, 2007

Club for Growth Responds to President’s Economic Report
Urges Congress to Make Tax Cuts Permanent and Approve Fast-Track Authority

WASHINGTON – In response to President Bush’s annual economic report to Congress, Club for Growth President Pat Toomey released the following statement:

“President Bush’s call for making the tax cuts permanent and renewing fast-track authority is exactly what this country needs to produce healthy economic growth.

“Opposition to free trade flies in the face of the economic evidence. It is no coincidence that the strongest sustainable period of economic growth and productivity in this country coincided with the period of the freest trade. Senator Schumer suggests “shift[ing] focus” away from free trade, but others in Congress would be well-served to remember the useful maxim – If it ain’t broke, don’t break it.”

Club for Growth Urges Obama to Emulate JFK

Andrew Roth - February 09th, 2007

CLUB FOR GROWTH URGES OBAMA TO EMULATE JFK

Washington &mdash The Club for Growth urges Senator Obama to emulate President John F. Kennedy’s policies of economic growth and turn away from his own record of supporting tax hikes, wasteful pork-barrel projects, and protectionist policies that keep the special interests happy and prices high.

In the Illinois State Senate, Senator Obama repeatedly voted for anti-growth measures including numerous tax hikes (AP 11/15/00, 04/05/02, 05/31/03, 06/03/03) and a minimum wage increase (Chicago Sun-Times 09/01/03). Once in the U.S. Senate, Senator Obama remained true to form, continuing to vote for policies that hurt American taxpayers and kill jobs. These include:

  • A 2006 vote against extending $70 billion in cuts in capital gains and dividend taxes (Roll Call #118, 05/11/06). These tax cuts helped stimulate the economy and are essential for continued economic expansion.
  • A 2005 vote against the Central American Free Trade Act (Roll Call #209, 07/28/05).
  • A 2006 vote to raise the federal minimum wage, a bill that would harm small businesses and result in job losses (Roll Call #179, 06/21/06).
  • A vote against Senator Tom Coburn’s (R-OK) amendment to transfer $223 million from Alaska’s “Bridge to Nowhere” to rebuild a Louisiana bridge damaged by Hurricane Katrina (Roll Call #262, 10/20/05).
  • On the record opposition to personal savings accounts that would help make Social Security solvent and give workers the opportunity to accumulate wealth (www.obama.senate.gov).

Club for Growth President Pat Toomey said, “Senator Obama’s prescription for America would result in higher taxes, higher tariffs, higher spending, less economic freedom, and consequently, a weak economy. Last week, John Edwards announced he wants to raise taxes. This week, the tax-hiking, protectionist Senator Obama promised to campaign on ”a different kind of politics’ while supporting the same old disastrous economic policies of the past.

“We urge Senator Obama and other leading Democrats to learn from the pro-growth lessons of President Kennedy’s tax cuts and the general free trade policies of every post-war U.S. President. A truly different brand of politics would blend the best economic leadership of Presidents Reagan and Kennedy to maintain America’s world leadership as an engine of growth.”

Romney's Economic Speech

Andrew Roth - February 07th, 2007

Club for Growth Responds to Romney’s Economic Speech

Washington &mdash As part of the Club for Growth’s ongoing analysis of presidential candidates and their economic policies, the Club for Growth commends Massachusetts Governor Mitt Romney for promoting a pro-growth, limited government agenda in his speech before the Detroit Economic Club today.

The Club’s President, Pat Toomey, highlighted Governor Romney’s call for permanent tax cuts, tax reform, spending discipline, regulatory relief starting with the reform of Sarbanes-Oxley, and tort reform as “solidly pro-growth.”

“Governor Romney outlined today an economic platform that is, generally speaking, very pro-growth despite the surprising limit he suggests for tax-free savings,” Toomey said. “As the governor develops the specifics of his economic policies, we hope he will boldly build upon the limited government, free-market policies he discussed today.”

“The other presidential candidates should follow Governor Romney’s lead and propose similar, if not more extensive, measures to protect American taxpayers and promote continued economic expansion.”

Club Response to the President's Budget

Andrew Roth - February 05th, 2007

Club for Growth Applauds President’s Budget, but Urges President to Do More

WASHINGTON – Club for Growth President Pat Toomey applauded President Bush’s 2008 budget for showing a greater commitment to curbing spending growth than in years past, but stressed that there is still more to be done.

“The President deserves credit for taking tangible steps towards a pro-growth budget, calling for earmark reform; a line-item veto; personal Social Security accounts; making the tax cuts permanent; and a balanced budget by 2012,” Toomey said. “At the same time, bolder steps are needed in cutting non-defense discretionary spending. President Bush’s budget calls for a 1% increase in non-defense discretionary spending, but last year’s budget remained frozen at zero percent.”

President Bush proposed slowing the rate of entitlement spending growth by $96 billion over five years, an improvement over last year’s request of $60 billion, but far short of the profound reform these entitlement programs require. “While the President’s budget calls for the creation of personal Social Security accounts by 2012,” Toomey continued, “it’s a pity this mechanism for creating wealth and saving Social Security couldn’t be implemented sooner due to Congressional intransigence.”

“In his last two years in office, President Bush has an opportunity to promote limited government and maximize economic growth. With tax revenue to the treasury increasing at a greater rate than projected by the OMB, we are already approaching the threshold of a balanced federal budget. The President should use his final two years to call for another tax cut to accelerate the tremendous economic progress that we have witnessed over the last several years.”

John Edwards Wants to Raise Your Taxes

Andrew Roth - February 05th, 2007

Edward’s America Will Pay More Taxes

Washington – The presidential election may be two years away, but it is not too early to take stock of which candidates are committed to protecting America’s taxpayers and which candidates are not. Last week, the Club for Growth took Republican candidate Arkansas Governor Mike Huckabee to task for his record of raising taxes and his refusal to take a no new tax pledge on Meet the Press (01/28/07). This week’s Meet the Press featured a candidate downright eager to raise America’s taxes&mdashthis time, former North Carolina Senator and Democratic presidential candidate John Edwards.

Edwards’ pricey presidential platform includes universal healthcare, reduced carbon emissions in the form of increased gasoline prices, and eradicating poverty, all of which will be paid for by the American taxpayer. “Yes, we’ll have to raise taxes,” Edwards said on Meet the Press. “The only way you can pay for a healthcare plan that costs anywhere from $90 billion to $120 billion is there has to be a revenue source” (Washington Times 02/05/07).

Club for Growth President Pat Toomey denounced Edwards’ tax hike plan as a recipe for disaster. “The 2003 Bush tax cuts produced one of the broadest and strongest economic expansions in the nation’s history,” Toomey said. “It is mind-boggling that John Edwards would seek to derail that expansion for the sake of his big-government, collectivist schemes.”

“John Edwards talks about ”two Americas,’” Toomey continued, “but there is only one America and its taxpayers think they should be allowed to keep more of their hard-earned money&mdashnot less. Americans don’t want higher taxes. They said no to Mondale in 1984; they’ll say no to Edwards in 2008; and they’ll say no to any candidate&mdashRepublican or Democrat&mdashwho runs on a platform of more government and higher taxes.”