deliver solutions. some of my entitlement reforms come directly from the paul ryan plan. other solutions come directly from the simpson-novels

commission -- simpson-bowles commission. i may be a challenge giant -- my solution may be challenged by the left and right, but it represents a significant step forward. it also represents a very different visions for our country than the current occupier of the white house. the president believes he can tax and spend and regulate our way to prosperity. we cannot. we must compete our way to prosperity. when i was born, manufacturing comprised 25% of gdp. today it is down to around 10% this does not reflect a decline in american ingenuity or work ethic. it reflects our government's failure to adapt to realities of

the 21st century economy. we need american entrepreneurs not only thinking of new products like the iphone or segue. we need american workers building those products. it is time for made in america to mean something again. overseas i have heard our adversaries speak of america's decline as if it were predetermined. it is not. some say today's economy is the new normal all of us need to accept. i refuse to. it is time for america to compete again, and here is how we are going to get it done. first, on debt, let me start by saying that debt is a cancer, which is left untreated will destroy our economy from within. i have been outspoken as a supporter of the ryan plan,

which i believe it begins to address the long-term problems that make our current course of standing unsustainable. i also support a balanced budget amendment. we cannot restore our nation's economic strength by cuts alone. we must compete. over the last few decades, our tax code has evolved into a maze of special interest new polls and temporary provisions that cost taxpayers more than $400 billion a year to comply with. rather than tinker around the edges of a broken system, i am going to drop a plan on the front steps of the capital but says we need to clean house, get rid of all tax expenditures, all loopholes, all subsidies, all

corporate welfare. use that to lower rates are across the board and to do that in a revenue-neutral fashion. thank you. [applause] for individual taxpayers, i propose a version of the plan crafted by the simpson-bulls commission known as the zero plan. we will eliminate all deductions and credits in favor of three dramatically lower rates -- 8%, 14%, and 23%. we will limit a tax that is unfairly punishing citizens. we will also on limit dividends, which will lower the cost of capital and encourage investment in the economy. the united states cannot compete

with the second-highest business tax rate in the developed world, so i propose lowering it from 30 five% to 35%, one point lower than the developed world average. a tax holiday for repatriation of corporate holidays overseas should also be implemented immediately, making between four and hundred billion dollars and immediately. third, are creative and entrepreneurial class is being strangled by a complex and convoluted web of misguided and regulations. one example is the ongoing effort to prevent america's largest exporter, boeing, from building a new plant in south carolina in an effort to block

investment in right to work states. goif elected, i will immediately instruct them to stop this politically motivated attack on enterprise, and if a fair to do so, -- if they fail to do so, i will replace them. rather than true financial reform, the american people were hadn't a 1600 page monstrosity we did were handed a 1600 page monstrosity that gave power to our system. another fundamental problem is it perpetuates too big to fail. taxpayers must be protected for more bailouts. [applause] yet we must reconsider whether increased competition between

smaller entities is more efficient than a vast new regulatory apparatus that will almost certainly produce more bailouts. we must also repealed obamacare, a one trillion dollar bomb dropped on taxpayers but only hampers businesses and job creation. we must end of the serious regulatory overreach exemplified by its current effort to pass a new ozone rule, which would effectively halt construction, and we must also approve -- improve the ridiculous process, which puts delays on new products that have the ability to extend human life. to free ourselves from opec's

grasp and create american jobs, we must and our addiction to foreign oil. every year, america's sense more than $300 billion overseas for oil. this is unsustainable. up need to expand and open o new sources of domestic energy, improving our global competitiveness. thank you. [applause] we must start by expediting the approval process for saves, environmentally sound projects, including oil and gas reserves in the gulf of mexico and alaska and appropriate federal lands, along with supporting the keystone pipeline project along with canada. we must eliminate subsidies and

regulations that discourage domestic energy sources such as natural gas, biofuels, and liquids. the united states has more natural gas and saudi arabia has oil, yet the obama administration just issued fuel economy regulations that effectively barnes heavy-duty from converging into natural gas. we can and must begin producing more energy right here at home. thank you. fifth, as a former diplomat, a trade official, a governor, and business executives, i witnessed firsthand the tremendous opportunities of free trade.

95% of the world's customers live outside of our borders, and with the u.s. party to more than -- to only 17 of more than 300 trade agreements worldwide, opening markets to american businesses should be a common- sense tool to spark immediate growth. for two and a half years, the president has failed to act on free trade agreements with south korea, colombia, and panama. i would make them a top priority. washington must also immediately start the discussion with india to end a bilateral free trade agreement, strengthening our relation with a friend who will prove to be critical to america's success in the 21st century. on each of these points and more outlined in our american jobs plan, president obama is job

record has been marked by failure. other nations are making the choices necessary to compete in the 21st century. i have seen that firsthand. in brasilia, in beijing, our competitors are making the hard choices and will help assure their children a better life. if we fail to do the same, we are robbing our children of an inheritance every previous american generation has enjoyed. i am running for president because i am prepared to lead the american people to the better and brighter future. we are the most optimistic, common sense problem solvers on earth. we can turn this thing around.

i seek your vote to reignite america cost light. we have no choice. we must unite and look beyond politics for real solutions. it is time for america to start in building things again. it is time for america to start working again. it is time for america to compete again. i believe with the new administration, we can do just that. president obama won in 2008 on hope. we are going to win in 2012 on real solutions. thank you very much for being here. [applause] thank you, thank you, thank you. thank you all very much.

i guess we can take a couple of questions. is that allowable bowman -- is that allowable as? >> does anyone have a question? >> [unintelligible] at&t is saying we will bring 5000 jobs to america. you feel they should bring those 5000 people back now? >> this has nothing to do with one company. this has everything to do with the big picture approach to getting this country moving again. this is not about little tweaks. this is not about half measures around the tax codes or

individual company complaints or arguments about one company been in this country or another. we fundamentally have of a problem with respect to competitiveness, and we are not going to be able to expand our manufacturing bases 25%, 10% today. we have got to get back to where we can make things in this country, and we are not going to do it by decisions on individual companies. it is going to get right to the heart and soul of fundamentally addressing the barriers and red tape that stand in the way called excessive regulation. it is going to get to the heart and soul of dealing with the reality that we can create 500,000 jobs right here if we begin a transition to fuels like natural gas that are ours that are clean, cheap, and carry

profound national security implications, so i am here to tell you, we have no choice. we need a big picture approach soon problem-solving. we cannot afford to of leaders who are not going to do what needs to be done. yes, sir? >> i was in the navy when you were born. i cannot find anything you say to disagree with. when you get not elected and walked in, 80% of the people are still going to be there. how are you going to get any of this done? >> i was born in 1960, and the u.s. navy paid for my birth. i was born in the navy. i have been forever grateful. i have two sons in the navy in a

small attempt to pay them back. there is nothing like the voice of people when they speak out. we are still elected officials with the consent of the governed. it is the people who speak to get things done. i am here to tell you 2012 is going to be about nothing beyond expanding the see economy and creating jobs. there may be some ancillary issues, but it has got to be about fixing our core, getting us back in the game, getting our country back on its feet, and i believe the discussion leading up to 2012 is going to be a referendum on the things we discussed here. what are you going to do about taxes? what are you going to do about obamacare? what are you going to do about dog-franc? when the people speak in 2012, it is going to be an attention-

getter. i can feel it already. that is going to speak to congress and to the bureaucracy, and it is going to say we want to get things done. we want to follow a particular course of action that is going to ensure prosperity for the american people, and reverting back to a system that believes in capitalistic traditions of free market, innovation, allowing the marketplace to solve a lot of our problems, i believe that is going to be the message loud and clear. i believe congress is going to stick with it and stay focused on the task at hand. whether you are a governor or or whether you are president, that is the message you get on election day. you have about a two-year window in which to get things done, and then it closes and you know

longer have an opportunity. the doors close, and people are now looking for alternatives, and i believe there will be an alternative in 2012, so you have got two years after the stamp of approval by the people to get things done, so what i am trying to do is to narrow the priorities for the american people down to debt, because that is the cancer if we do not contain is going to metastasize and killed this country, and then it is going to be how can we get out of the whole we are in? you have to grow. you cannot do that until you reform taxes, until you get a competitive tax rate, and you cannot expand the economy until you deal with regulatory. those are the things i am going to talk about, aside from getting our position right in

the world. those are the three primary and compelling issues that will drive this country forward and drive the discussion around 2012, and you will get the step from the people of this country and go through the next 12 years and not -- the next two years. thank you for your service in the navy. [applause] [inaudible] as i enter stand it, and who are the only -- as i understand it, you're the only one with experience in china and an understanding of the political culture. what message do you bring to the american middle class that will bring them hope for a brighter future?

>> i will not only tell you, but maybe i can say it in chinese of the appropriate time after i am elected with the right clarity for 300 million people. there is always a fear factor when you talk about china. there are problems with international property protection, currency problems with a deeply discounted currency. they are all bad, and we have to keep hammering on those issues, but we also have to remember on the other side, there is an opportunity for the united states, and i do not want that lost on anyone. you have the largest consumer class in the history of the world that will form in china, and they are going to be inclined to want to buy our products, and in my mind, that means exports to the united states, and china was nowhere on our top list of export nations,

and it went to the top five and the top three. i think for every state in america, china's marketplace is going to emerge as a voracious consumer. that means jobs, opportunities, economic expansion right here at home. you have got to balance in any game. you have to balance a realistic approach, rebalancing currency, doing the things that would suggest you play by the rules, and for 40 years, that has been a challenge. that will continue to be a challenge. on the other side, i am not going to miss the opportunity to see the reality of growth in china. that is going to taper down as they transition from and export machine to a consumption machine, but as they move to a

consumption machine, they are going to be buying our stocks. i want to make sure we are ready to export and we have the wherewithal to penetrate the markets to make the cash register ring at home. thank you. [applause] >> final question. >> based on your familiarity with china, what do you feel the implications are of the one child per family program over the long term for trade and as a market? >> that is a sensitive one. i hate the one child policy, and so do a lot of people there, but i also have a daughter because of the one child policy. i have a daughter we adopted from china, and i have no doubt

about her circumstances. her mother gave her life and decided not to keep her, which is sometimes an uncommon thing in china, and she was abandoned and put in an orphanage, and we took possession of her at a young age, and she is 12 years old, and every time i looked at her i think of the policy and how it is robbing the chinese people of life and opportunity and creating a disequilibrium they will have to deal with in ways i do not think any social scientist has ever thought through, but it has given me the love of my life in my own daughter, and i wish you could see what a beautiful and thoughtful 12-year-old she is. i call her my senior political adviser, because she travels with me, and at the end of the day, she says, dad, you forgot

to say this, you said that's wrong, and i listened to her because she is right. thank you very much. [applause] >> you have been terrific. thank you for being here. >> thank you for being here. >> very nice meeting you. >> good luck on the campaign trail. >> there you go. >> my dad and brother used to .ork for your dad he was a chemist.

>> he probably would have worked for chesapeake. i have worked better quality control lab -- at a quality control lab. good to see you. >> [unintelligible] we lack confidence. >> it is easy to build on it. that is part of it. there is an opportunity we cannot forget about. >> i have worked in asia.

there are good humans working together. they will work together really well. thank you very much. >> could to see you. thanks for being here. china is quantified out what family is. that will do the trick. >> that will be interesting to watch. they are struggling economically right now.

>> i have great and wonderful kids. i know what family is. >> the way you win new hampshire is by the math. you figure you have kids reaching out to every corner of the state. >> is going to take awhile to get a balanced budget amendment. i think people have had enough of the large and unpredictable deficits today. >> one of the big problems is we have to ship jobs overseas

because we don't have the technology. >> what about the visa program? we have the immigration debate. there is a legal side, too. we need brainpower. we have always relied on brainpower in this country. good to see you. >> i encourage you to promote party unity. >> we need party unity more now than we have ever before. >> you got that right. >> at all cost. >> we will do our part and hope you do, too. >> i will. >> you are navy brat? >> i am. >> i went to the naval academy.

[inaudible] my grandson is in the merchant marine academy. >> that is a great program. >> great to see you. >> i compare pictures of of me at the academy with his. he joined the navy first and then he went to the academy. >> thank you for coming to new hampshire. i like your ideas on energy and commodities. >> [inaudible]

>> i did not either until we actually did it ourselves. we are just scratching the surface of the potential that is there. >> i really liked your ideas. >> i have no doubt. >> how are you doing? what ever you have got? whatever you like. >> what will distinguish your record from the others? >> you are talking about their plans or their records? >> your jobs plan and their records? >> i don't know the specifics of what they are offering, we will wait and see. i don't believe you will find

any other candidate with a tax reform program that hits the mark quite like ours, where we are willing to phase out all the loopholes, all the deductions, corporate welfare, clean out the cobwebs completely, so that you can pay down the rates. you have to raise revenue. i do believe that is quite significant, and we may be alone in candidates offering that. >> simpson-bowles talked about using -- -- talk about using some revenue for deficit reduction. you do not want to do that? >> i believe any extra revenue, we have used to buy down the capital gains rate. to the tune of maybe $800 billion. if you look at our plan, it is a hybrid, more or less. you have one aspect of simpson- bowles and that it has our own

additions. >> relying on spending cuts and deficit reduction? >> spending cuts and growing, the rhine plan for spending cuts and tax reform and regulatory reform. energy independence that will stimulate the economy and get a revenue flowed the old- fashioned way. you have to earn revenue so you can decrease the debt. our plan is comprehensive in the sense that we are hitting on trade, energy, for regulatory reform, tax policy. everything is included that i think really represents not long term but short-term effectiveness in firing our engines of growth. >> you talk about taking away popular deductions like the first-time homebuyers. >> you have to start. -- you have to start with a

negotiating position. i did the same thing as governor. we reform our tax code in a fairly revolutionary way. it had never been done to this extent in the history of our state. basically phasing out everything and moving toward a flatter, fairer, and more predictable tax, then the negotiations begin. sometimes you have a different in point. -- endpoint. people want their president to get things done. right now we are polarized. we have the extremes. no one is moving the agenda forward. a president needs to move the agenda for and get things done. -- forward and get things done. what i have laid out today really represents our position going in. but there is the reality of the two-party system and reality of negotiations. i would like to take us as close to this as possible. if we can achieve something like this that it would leave the country with predictability for -- with a 21st century tax code that would fire our engines

of growth and provide predictability for entrepreneurs and the creative class in this nation suspect people will begin hiring again and capital expenditures will be deployed into the marketplace. we are frozen right now. >> the simpson-bowles zero plan, did you look at what the effect of that plan would be and who would be paying more taxes? >> we looked at the scoring. -- the scoring that kind of went on with the congressional budget office. we have not scored hours specifically. we can guesstimate roughly what the implications would be, but we have to do a little scoring. we are taking it off one aspect of simpson-bowles. we read the three primary proposals. this proposal was the one that met my own view of good comprehensive tax reform. i believe the system works and we will continue looking at the numbers. >> with this lower the after- tax income of the wealthiest americans?

>> it will provide three rates, as i mentioned. we will see what the numbers hold. getting to a simpler, more predictable tax rate. you can deal with how you approach phasing things in and out. i had to do tax reform in the state of utah. it's never over night or one- size-fits-all. you have to deal with the reality of different populations. all i'm saying is that this is my position going in. it's realistic and is a good place to start. i would like to stick to it as close as possible. thank you all very much. >> [unintelligible] >> it's a global business. like any other global business, you have to meet customer demand all over the world. shoring up our manufacturing base.

we have to focus. >> the timing of the president's speaking before a joint session of congress? do you think he is paying -- playing politics? >> i think it is political theatrics. if you don't have a plan, sometimes you fall back on political theatrics. you look at when the debate is taking place, you put forward your own proposal? a lot of americans would find that as political theater? >> what about the message of compromise that you have? you are saying that you are open to negotiation? >> i like the plan i put forward and i like the plan that i put forward as governor. you sit down and hammer out a deal. that's the way it goes. i will stick to it as closely as possible, just as i did as governor.

if i think we got the best tax reform in the nation out of it. if you look at what some of the analytical organizations had to say about its. what the pew center and the cato institute had to say. they do a pretty good of analyzing tax policy. we had the best tax policy in that particular year in the nation. i will let our track record speaks for itself. >> thank you. >> neck, sarah palin speaks at a tea party -- tea party rally in iowa. live at 7:00 a.m., your calls and comments on "washington journal."

>> what's more video of the candidates. see what reporters -- see what political reporters are saying. c-span's website for campaign 2012, easy-to-use, it helps you navigate the political landscape with twitter feeds, candid it biographies, and the latest polling data, plus links. all at c-span.org/campaign2012. quacks former alaska governor circuit -- sarah palin was keynote speaker at a tea party for america rally in iowa. in her speech, she criticized prevent obama's handling of the economy and offered her own plan. this is one hour and 25 minutes.

you, iowa. thank you so much. thank you. the sign that says "thank you i can thank you. your love of country keeps us going. iowa, you are good people thank you. it is an honor to be in the heartland during this -- sharing this labor day weekend with you. i thank you for the invitation. the organizers put so much work into this. it is great to see you here today. last night was fine, but -- fun, getting to run into some of you at the response. to see so many demographics represented and so many different states all across our

great nation, we got to gather together last night. different political parties represented. todd reminded me as we walked out of that room last night, "we are not celebrating read america or blue america, we are celebrating red white and blue america. [applause] what brought us here today out in this field? why are we not watching the hawkeyes or grilling up some of venison or corn on the cob on this labor day weekend? what brought us together is a love of country. we see that america is hurting. we are not willing to sit back and watch the demise through some fundamental transformation of the greatest country on earth, we are here to stop that

transformation and to begin the restoration of the country that we love. [applause] we are here because america is at a tipping point. america is facing a crisis. it is not a crisis like a midwest summer storm -- it moves in and then it moves on -- this kind will relentlessly rage until we restore all that is free, good, and write about america. he -- right about america. [applause] it is not fear of a double-dip recession or a credit downgrade, it is deeper than that. this is a spit -- systemic crisis due to failed policies and incompetent leadership. we are going to speak truth today because we need to start

talking about what has not worked and we are going to start talking about what will work for america. we will talk truth. some of us saw this day coming. it was three years ago on this very day that i spoke at the gop convention. [applause] i was honored to accept the nomination for vice president that night. in my speech, i asked america when the cloud of rhetoric has passed, when the roar of the crowd fades away, what exactly is barack obama's plan? what does he seek to accomplish after he is done turning back the waters and healing the planet. the answer is to make government bigger. to take more of your money.

to give more of it to others and to take more orders from washington. to reduce the strength of america in a dangerous world. i spoke of this, but back then, it was only my words you had to go by. now you have seen the proof yourself. and it obama did not have a record while he was in office -- candidate obama did not have a record while he was in office, but president obama does and that is why we are here today. candidate obama pledged to transform america and for all the failures and broken promises, that is the one thing he delivered on. we transformed from a country of hope to one of anxiety. one in five of working age men are out of work. one in seven americans are on

food stamps. our mortgages are under water. in places like michigan and california, they are suffering from unemployment numbers that are greater than during the depths of the great depression. barack obama promise to cut the deficit in half. instead, he tripled it. now our national debt is growing at $3 million a minute. that is $4.25 billion a day. president obama, is this what you call winning the future? i call it losing -- losing our country, and with it, the american dream. these americans feel that fierce urgency of now, but you feel it, sir? the tea party was born of this urgency.

it is the same sense of urgency that propelled the sons of liberty during the revolution. [applause] it is the same sense of urgency that propelled the abolitionist before the civil war and the civil rights movement during the 20th century. the tea party movement is part of this noble american tradition. this movement is not simply a political awakening, it is an american awakening. [applause] it is coming from ordinary americans, not the politicos in the beltway. you, who grow our food, you run our small businesses, you teach our children, you fight our wars. we are always proud of america. we love our country in good times and bad and we never apologize for america. [applause]

you know, that is why the far left's irresponsible and a radical policies have awakened america so that we finally understood what it was we were about to lose. we were about to lose the blessings of liberty and prosperity. the working men and women of this country, you came out of the duck blind. you got off the john deere and took to the streets and the town halls. we ended up at the ballot box. tea party americans, one and elect oracle -- an electoral victory of historic proportions in november. [applause]

we the people, we rose up and we rejected the left's big government agenda. we do not want it, we cannot afford it, and we are unwilling to pay for it. [applause] that victory, remember, friends, that was one step in the long march to saving our country. we set a new crop of leaders to d.c., but the permanent political class tried to coopt them. the reality is, we are ruled by a permanent political class until we change that. they talked endlessly about cutting government, yet they keep spending more. they talked about massive, unsustainable debt, yet they keep incurring more. they print, they borrow, they spend more, and then they stick us with the bill.

then they passed their own backs -- pat their own backs and claim they solve the debt crisis. when we received our first credit downgrade, they promptly went on vacation. they do not feel the same urgency that we do, but why should they? for them, business is good. business is very good. seven of the 10 wealthiest suburbs are suburbs of washington, d.c. usually i will say poles and mean strippers or cross-country skiers. [applause] but polls in those parts show that some people there believe the economy has actually

improved. there may not be a recession in georgetown, but there is in the rest of america. the permanent political class is doing just fine. ever notice how so many of them arrive in washington, d.c. of modest means and then miraculously, throughout the years, become very, very wealthy. that is because they thrive -- derive power and wealth from their access to our money -- taxpayer dollars. the use it to build up their friends on wall street and their corporate cronies, and to reward contributors and to buy votes. there is a name for this. it is called "corporate crony capitalism." this is not the capitalism of free men and free markets, of

innovation, hard work, at 6, sacrifice, and rest -- this is the capitalism of connections, at government bailouts, and handouts. influence peddling and corporate welfare. this is the crony capitalism that destroyed europe's economy. it is the solution of big government, big business, and big finance. it is a detriment to all the rest -- to the little gy. -- little guy. otter ignores account for 70% -- entrepreneurs account for 70% of small business in america. do you want to know why the permanent political class never really cuts anything? do you want to know why nothing ever gets done?

it is because there is nothing in it for them. they have a lot of mouths to feed -- a lot of corporate lobbyists and a lot of special interest that are counting on them to keep the good times and the money rolling along. it does not surprise me. i have seen this kind of crony capitalism before. it is the same old kettl boy politics as usual. i defeated it in my own state. i took on a corrupt and compromised political class and they're back room dealings with big oil. -- and their backroom dealings with big oil. sudden and relentless reform sits well with entrenched interests and power brokers. please, you must vet a candidate of 3 record. you must know their ability to successfully reform and

actually fix problems they are going to claim they inherited. real reform never sits well with the entrenched special interests. that is what the true voices are up -- of reform are quickly demonized. look what they say about you. look what happened during the debt ceiling debate. we have been given warning after warning that our credit rating would be downgraded if politicians did not get serious about tackling the debt and deficit problem. but instead of making the real cuts that are necessary, they used enron-like accounting gimmicks. they promised that if they were allowed to spend those trillions more today, they would cut billions 10 years from now. by some magical thinking, they figure they can run up a trillion dollar deficits year after year, but still, somehow,

forget the unforgiving mathematics that led to the downgrade. they got a rude awakening for the rest of the world. even america is not too big to fail. when we violate did get slapped with that inevitable downgrade, the politicians and the pundits turned around and blamed us. independents, common-sense conservatism, we got blamed. they call us terrorists, suicide bombers, and hobbits? [applause] i could not understand that one. what is the president's answer to this enormous debt problem? spend more money. only you cannot call it spending, you have to call it investing. watch what happens now wind fema

and some of these other bureaucratic agencies -- they do not want to refer to the centralized federal government as the government. now it is called the "federal family." am i too old to ask to be emancipated i wonder? i never thought i would say it, but i want a divorce. [applause] the president's answer to our debt problem is to incur more debt. spend more money, only call it investing. they want more reliance on government to supply their every need. this is the antithesis of the pioneering american spirit that empowers the individual to work, to produce, to be able to thrive and succeed with fulfillment and with pride. that, in turn, built our free and hope filled country. he wants to win the future by investing more of your hard

earned money in some harebrained ideas like more solar panels and really fast trains. these are things a venture capitalist will call non starters, yet he wants to do more of them. they think these panels and really fast trains will magically save us. he is shouting, "all aboard obama's bullet train to bankruptcy." [applause] the only future and that barack obama is trying to save is his own reelection. he has shown that he is willing to mortgage our children's future to pay for it. there is proof of this. look closely at where all that green energy stimulus money is invested. you'll see a pattern. the president's big campaign won't -- dollars that big

returns to the tune of billions of your tax dollars. the technical term for this is "pay to play." between bailout for wall street cronies and union boss securities and green energy giveaways, he took care of his friends. now they are on course to raise $1 billion for his reelection bid so they can do it all over again. are you going to let them do it all over again? are you willing to unite to do all we can to not let them do it again so we can save our country? to be fair, some gop candidates also raised mammoth amounts of

cash. we need to ask them, what, if anything do their donors expect in return for their investment? we need to know this because our country cannot afford more trillion dollar thank you notes to campaign backers. it cuts to the heart of our problem. i speak from experience. confronting the corruption in the coney capitalism, i started 20 years ago. i do not play that game of hiring expert political advisers just so they will say something nice about me on tv, if you ever wondered. [applause] you know how that game is played, i am sure. the reason is simple. like you, i am not for sale. [applause] because we believe in the free

market. i believe in the free market and that is why i detest chronic capitalism. barack obama has shown us cronyism. it will lead to our downfall if we do not stop it now. it is a truth that grows our economic problems, our unsustainable debt, and our high unemployment numbers, and housing market that is in the tank, and a stagnant economy politicians are so focused on the symptoms and not the disease, we will not solve our economic problems until we confront the cronyism of our president and our permanent political class. [applause] so, this is why we must remember that the challenge is not simply to replace obama in 2012, but

who and what we will replace him with because it is not enough -- [applause] [crowd chanting "run, sarah, run"] folks, you know it is not enough to change up the uniform, if we do not change the team in the game plan, we will not change our country. we need sudden and relentless reform. that will return the power to "we the people." this, of course, requires not

just words. it is not good enough for the politicians to be throwing our way some kind of a vague -- vague generalities, it is time that they hold -- we hold them accountable. it is amazing to me that good conservatives run away from being honest and straight up with us about what needs to be done. they do not want to rock the boat. they cannot hurt future at election prospects, evidently. -- evidently. they are saying what they think we want to hear. instead, they should be telling us what needs to be said and what needs to be done. let us, today in this field, let us have this adult conversation about what needs to be done to restore america. let's do that now. in five days, our president will

gift us with another speech. in his next speech, he will reveal his latest news. his jobs plan. it will have a more lofty goals and resurrect -- rhetoric. more illogical fantasies and more continued blame and finger- pointing, but listen closely to what he says. all of the solutions, they are going to recall arawn more of the same -- more chaos, more friends and supporters. his plan is the same -- grow more government, increased more debt, give more of your hard earned money to special interest. this is such a problem, but you know what the problems are. we can go on all day about the problems. talk about status quo in washington.

status quo is latin for "more of the same mess we are in." status quo will not work anymore. you know the problems because you live them every day. let's talk about real solutions. i want to tell you what my plan is. [applause] my plan is a bonafide, pro- workingman's plan. it deals in reality. it deals in the way the world really works. we have to talk about what really works in order to get america back to work. my plan is about empowerment. empowerment of our states, our entrepreneurs, and, most importantly, you. i have trust and 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. all power and not specifically delegated to the federal government by our constitution is reserved for the states and for "we the people." [applause] let's enforce the 10th amendment. devolve powers back locally where the founders intended them to be. second, what happened to all of those promises about repealing the biggest all unfunded government mandates? we must repeal obamacare. [applause] and rein in burdensome regulations. get government out of the way. let the private sector breed and

grow. this will allow the confidence that businesses need in order to expand and hire more people. third, no more runaway debt. we must prioritize and cut. [applause] cancel unused stimulus funds. have that "come to jesus" moment where we live up to entitlement reform. the reality is we will have an entitlement reform, it is just a matter of how we are going to get there. we -- the world's capital markets will be at our throat and we will have no choice but to reform our entitlement programs. the status quo is no longer the top -- an option. and, reform is our duty now and it must be done in a way that honors our commitment to seniors

while keeping faith of future generations. [applause] i tell you what, i do not think anything has irked me more than this nonsense from the white house about not sending our seniors their check. it is their money. they have paid into social security all of their working lives. for the president to say, "we may not be able to cut their check," well, where did all of their money go, politicians? why is the commander in chief willing to throw our military under the bust, threatening that their paychecks may not arrive, but the politicians will still get their checks and their retirement and he will still get his posh vacations? are you not sick to death of those skewed priorities? it is backwards. our seniors and our brave men

and women in uniform being used as pawns. it is shameful. enough is enough. no more. [applause] of course, it is time for america to become the energy superpower. the real stimulus we have been waiting for is robust and responsible domestic energy production. [applause] we have the resources. the affordable energy is the key to any thriving economy. it must be our foundation. i would do the opposite of obama's manipulation of u.s. supplies of energy. drill here, drill now, let the refineries and pipelines be built.

stop cow-towing to foreign countries and dictators, asking them to ramp up production of energy to us. we have the resources here. we need to move on tapping our own god-given natural resources that are part of our reserves. i promise you this will bring a real job growth. not the phony fairy dust sprinkled with wishes and glitter. hard core, all of the above energy policy that builds the link between made in america energy and our prosperity and our security. [applause] you know, there are enough

conventional, a long and and natural resource development projects that are waiting for government approval. this could create more than 1 million high-paying jobs. it would not cause the government said diane. these projects would generate billions of dollars. can you a imagine that? a stimulus program that will did 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 supported as todd, worked up on the north slope. america's economic revival starts with america's energy revival. [applause] then fifth, we can and we will

make america the most attractive country on earth to do business in. right now we have the highest federal corporate tax rate in the industrialized world. did you know our rates are higher than china? and communist cuba? this is not generated as much money as she would think, because many big corporations, they skirt federal taxes because they have friends in d.c. who write the rules. this makes us less competitive and restrains the engine of prosperity. some businesses spend more time at trying to figure out how to hide their profits than they do and generating more profits of that they can expand and hire more of us. so to make america the most competitive place to do business, set up shop here, hire people here to attract

capital from all over the globe that would lead to an explosion of growth, instead of chasing industry offshore. i suppose, to eliminate all federal corporate income tax. 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 is the best part -- to balance out any loss of federal revenue from the tax cut, we eliminate corporate welfare and bailouts. [applause] this is how we break the back of crony capitalism, because it feeds of corporate welfare, which is just socialism for the very rich. we can change all of that. the message to job-creating corporations is -- we will on shackle you from the world's highest federal taxes, but you

will stand or fall on your own, just like all the rest of us on main street. [applause] see, when we in power the job creators, our economy will soar; americans will get back to work. this plan is the first step in a long march toward a fundamental restoration of a strong and free market economy, and it represents the kind of real reform we need. and, folks, it must come from you, from the american people. real hope is in you. it's not that hopey-changey stuff we heard about in 2008. we learned that. real business is in an individual, not in politicians, certainly. that hopey-changey stuff that

was put in an individual that when barack obama was a candidate, it did not create one job. no jobs created --that is the first time it has done that since world war ii. i get frustrated when the media gets that wrong, talking about government creating a job. government cannot create a job. the private sector creates jobs. they are pretty fundamental. we have to get that record. ight. real hope comes from you. it comes from realizing that we the people can make the difference. you do not be entitled to make a difference. we can get this country back on the right track. we can do it by empowering the people and realizing, god has richly blessed this exceptional nation and we do something about that realization. the permanentr

political class to reform anything for you. they will not. they cannot. they cannot even take responsibility for their own actions. our credit is downgraded but it is not their fault. our economy is in turmoil, but it is not his fault. it's the tsunami or the middle east uprising, it's irene or those doggone atm machines. [laughter] folks, the truth is barack obama is adrift with no plan, because his fundamental transformation is at odds with everything that made this country great. it doesn't make sense. he doesn't make sense. our president declares that he believes that american exceptionalism just as the greeks believe in greek exceptionalism.

us on willlhe has make us just as exceptional as greece. friends, our country is better than that . we have to stand together. we can confront the problem and we can achieve lasting reform. and i can tell you from hard earned experience with bombs and bruises along the way, the road ahead is not easy. you will be demonized. they'll mock you. they will make things up. it will tell you to go to hell. so we will not respond, as tempting as it is, to anyone that has disdain for our free market economy and for individual initiative. we will say -- we won't say,

no, you go to hello. . we won't say that. you know why we do not have to say that? when we have time tested truth and logic on our side, we win. and when we refuse to retreat because we know that our children's future is at stake, we win. no, the road is not easy, but it is nothing compared to the suffering and sacrifice of those who came before us. a few weeks ago, after my visit to the iowa state fair, we were on the bus tour. i took my daughter piper and my knees mckinley to the world war room in one liberty memorial in kansas city. standing in the rain, reading the inscriptions on those

memorials, about the honor and the dedication to god and country, i thought of all those young patriots who suffered and died so far from alhome. revering our vets, with the next generation by my side, there was such clarity in our calling -- patriotic constitutionalists -- we have a duty, not just to the living but to those who came, who died before u s, and to the generations yet to be bored. our freedom was purchased by millions of men who charged the bayonets and they charged the canons. they knew there were going to die, but it was worth it for them. sacrificing for future generation's freedom. there were the ones that were inth the trenches. inth the trenches.