“Conservatives need to snap out of their November blues: We lost an election, after all, not our minds.” – Sen. Jim DeMint (R-SC)
When Jim DeMint was the first of John McCain’s colleagues to criticize him after the election for not being conservative enough…or at all, I thought he is his first step towards…something else. Since then he’s been out front in opposing all bailouts and stimulus plans, has been the Republican senator making the best use out of various social networking platforms, and was one of two Senators who voted against Hillary Clinton’s appointment for Secretary of State.
Most recently, he penned an editorial for the local paper about what his plans was for creating jobs:
First, we must protect the fragile economy from the massive tax hikes coiled to spring on us in 2011, when the 2001 and 2003 tax cuts expire. Extending those rate reductions at least to 2013 will provide the economy with the long-term stability and predictability necessary to encourage new hiring and investment, consumer spending and entrepreneurial risk-taking. Once the 2011 tax bomb is disarmed, we should take the next logical step and lower marginal tax rates across the board on individuals, small businesses and corporations. Our plan will call for a 10-percentage-point cut in the top rate (from 35 percent to 25 percent) and comparable reductions for the lower brackets — reductions to be maintained also through 2013 at least. These tax cuts would soften the recession and expedite the recovery to the tune of 500,000 new jobs in 2009 and 1 million new jobs in 2010 and surpass by 2012 the president’s stated goal of 3.5 million new jobs.
On the other hand, any jobs created by government make-work programs will be slow to arrive, quick to disappear again, fewer than promised and minimally stimulative to the broader economy as they largely substitute government-based jobs for true private-sector jobs. Remember, 10 years into the Great Depression — 10 years of predatory tax increases, relentless New Deal “recovery” spending (not to mention overwhelming Democratic congressional majorities) — unemployment remained above 20 percent.
The cost of our plan will be substantial, $670 billion over five years, but unlike the $775 billion in new federal spending and the now-you-see-’em-now-you-don’t gimmicks in the current stimulus bill, broad-based tax rate cuts will create a more predictable business climate. Long-term corporate, small business and family tax relief will work. John F. Kennedy’s 1963 tax reductions led to 9 million new private-sector jobs in five years. Ronald Reagan’s 1981 tax cuts led to 7 million in the same period. Five years on, the 2001 and 2003 tax cuts have created 6 million new jobs. Meanwhile, all four of these long-term tax cuts spurred the creation of a broader tax base and ultimately higher federal revenues — no small point considering this year’s projected $1.2 trillion deficit works out to approximately $16,000 of new debt for every child in America to pay back.
So what does he want? I like DeMint a lot, but I don’t think another national candidate from the south is anything the party needs right now. That would rule out President, though he might make an interesting vice-president for a more moderate presidential candidate.
Maybe he’s looking to run for Governor when current Gov. Mark Sanford (another conservative favourite) steps down and starts his push towards the national stage.
Or maybe Jim DeMint is simply who he is…a principled conservative who isn’t afraid to speak out on his convictions. Maybe the best place for him is as Senator.
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