Ted Cruz on Economic, Financial Policy
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If economic issues and monetary policy is your bag, then this video of Ted Cruz on CNBC’s Sqawkbox is for you. I understand the principles and terms enough to appreciate good and bad financial policy, but it isn’t what gets me up out of bed in the morning or keeps me up at night. Nevertheless, this topic covers some of the most important and impactful policy affecting the United States.
Among the areas discussed was the 2008 financial meltdown and its effect on the global economy.
Cruz also talked about the crippling effect on the economy that out-of-control spending, regulation and taxation has. Hearkening back to the Reagan Revolution, we saw Reagan push for tax cuts that slashed the tax rate, resulting in explosive economic growth.
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When some of the talking heads brought up money from Goldman Sachs and other financial interests, Cruz said his campaign would take money from anyone (and encouraged them to contribute to his campaign. He also pointed out that just because he receives campaign contributions from this group or that does not mean he’s beholden to this group or that–something his record in the Senate proves.
Another example that Cruz is not beholden even to those he seeks support from is Iowa and ethanol subsidies. People said Cruz was crazy for criticizing government ethanol subsidies while campaigning in Iowa and seeking the primary nod in Iowa. Yet he stuck to his guns…and won Iowa.
Cruz also talked about the negative effects of minimum wage laws, not only how they hurt businesses but how they hurt teens and entry-level workers. Cruz’s own father, when he came to America from Cuba as a young man who didn’t speak English, he worked his way up. I also know a person like this who came to America a few years ago with almost no English, and though he was an IT programmer in his home country, he took low-skill menial jobs until he could learn English and make his skills marketable; this person has now worked his way back into IT work after building a work history in the United States and making his skills more marketable.
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Cruz pointed out a discussion he had with “Charlie the butcher” recently, who no longer hires teens because government-forced minimum wage increases have priced the cost of labor out of the no-skilled and low-skilled realm; he has to hire people who already have some knowledge of the trade. Unfortunately, this makes it very difficult for people to get in on a trade at the bottom rung.
Is it better to earn a low wage to start…or no wage at all?
Cruz also explained his flat tax, personal and corporate, how it is more fair all around, and would spur the kind of economic growth not seen since the Reagan years.
It would be well worth your time to take the 46 minutes to watch this entire video.
As the folks at RedState put it, this 46 minute video perfectly illustrates why Ted Cruz is the ONLY adult in the 2016 presidential race. No one understands the issues better, and no one has a better plan to get America back on the path that made her great in the first place.
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