Rick Santorum presidential campaign, 2016/Banking policy
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 Rick Santorum |
Former U.S. Senator (1995-2007) Former U.S. Representative (1991-1995) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- As part of his "20/20 Flat Tax" proposal in 2015, Rick Santorum called for a flat 20 percent tax rate on capital gains.[2]
- In July 2015, Santorum criticized "too big to fail" banks, saying, "I have real concerns about the size of the banks and think that while I've looked at various ideas as how to break up these financial institutions, I would certainly be open to ideas that would reduce systemic risk."[3]
- In February 2012, Santorum said government regulation of the market harmed it by "damaging...constructive capitalism." He continued, "And that means pain. I understand that. But it also means limited government and allowing markets to work because we believe they're more efficient over time. I held the same consistent position when it came to the auto bailouts."[4]
- Santorum attributed the 2008 financial crisis to government regulation rather than deregulation in a September 2011 interview on MSNBC. He said, "No, no, it wasn't deregulation, it was for Fannie and Freddie holding all these assets they shouldn't have been holding then we need to have less being held by these folks. ... So, you know part of it, part of it was government regulation and government markets that caused the bubble and caused the loose lending practices that lent to the problems."[5]
- During a Republican presidential debate in October 2011, Santorum expressed disapproval of the Troubled Asset Relief Program (TARP), arguing it was "unconstitutional." He said, "I opposed the single-biggest government intrusion into the private sector, the Wall Street bailout, the TARP program. I opposed it because it violated the principles of our Constitution, the spirit of our Constitution, because the experience I had, that if you open up the door of government involvement in the private sector, some president will, and in fact did, drive a truck through it and explode the size of the federal government and constrict our freedom."[6]
- In 2006, Santorum voted against an amendment to HR 4297 - Tax Relief Extension Reconciliation Act, which would have appropriated $47 billion to the military by repealing tax cuts for capital gains and dividends.[7][8]
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See also
Footnotes
- ↑ The Wall Street Journal, "Rick Santorum to Launch Second White House Bid," May 27, 2015
- ↑ Rick Santorum for President, "Santorum Economic Freedom Agenda," accessed December 10, 2015
- ↑ Washington Examiner, "Santorum considers breaking up big banks," July 20, 2015
- ↑ CNN, "CNN Arizona Republican Presidential Debate," February 22, 2012
- ↑ NBC News, "The Ed Show for Monday, September 26, 2011," September 27, 2011
- ↑ The Washington Post, "Republican Presidential Debate (Full Transcript)," October 11, 2011
- ↑ Senate.gov, "On the Motion (Motion to Waive CBA Reed Amdt. No. 2737)," February 2, 2006
- ↑ Congress.gov, "Congressional Record, Pages S516-S692," February 2, 2006
