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[Michele Bachmann DROPPED OUT] Favors eliminating estate tax and offering a tax holiday plus low tax rate to U.S. companies operating overseas that repatriate their profits. Has called for phasing out Social Security and Medicare, except for current beneficiaries. Favors aggressive deregulation and repeal of the financial rules Congress passed after the Wall Street meltdown. [Newt Gingrich] Favors several supply-side recipes intended to prod those with wealth to invest more in the economy: Make the Bush-era tax cuts permanent, eliminate capital gains taxes, eliminate the estate tax and lower the corporate tax rate. Also favors repealing the financial industry rules passed after the Wall Street meltdown, restricting the Fed's power to set interest rates artificially low and making work training a condition for receiving unemployment. [Ron Paul] He's famous for his calls to abolish the IRS and the Federal Reserve and return the country to a gold standard. Favors constitutional amendments to abolish income, estate and gift taxes. Says he'd slash nearly half of federal spending, shutting five of the 15 Cabinet-level agencies in the process. [Rick Perry DROPPED OUT] Says his fiscal skill shows in Texas' business-friendly record of reduced taxes and state spending — as well as better economic performance than the country as a whole through the recession. Wants to spur economy by cutting corporate taxes and regulations and by repealing the health care law. Proposes to lower and cap federal spending but has specified few cuts. [Mitt Romney] Often touts his experience in the private sector before serving four years as governor. Has been the least strident among GOP candidates about slashing government regulation. Favors making the Bush-era tax cuts permanent, lowering the corporate tax rate, ending the estate tax and eliminating capital gains taxes for households making less than $250,000 a year. Backs "cut, cap and balance," a deficit-fighting approach championed by the Tea Party that would culminate in a balanced-budget amendment to the Constitution. Says he'd cut non-defense programs and Medicare, but not for existing recipients. [Rick Santorum DROPPED OUT] Wants to spur job creation by eliminating corporate taxes for manufacturers, drilling for more oil and gas, and slashing regulations: "Repeal every regulation the Obama administration has put in place. … You may have to replace a few, but let's repeal them all." Opposed both the financial-industry bailout and stimulus bills. [0] 
It's the economy
2012 Republican presidential candidate bios - Omaha.com interactive documents
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