Michele Bachmann

in a letter to thoma_jefferson __PUNCT__ john_adam wrote __PUNCT__ you and i ought not to die befor we have explain ourselv to each other __PUNCT__

the challeng we face_todai have summon a varieti of opinion about the best cours of action to solv them __PUNCT__

as a former feder_tax attornei and a creator of a small_busi __PUNCT__ i can think of no better place than the commonwealth club to offer my __PUNCT__ explan __PUNCT__ into the crucibl of public_debat __PUNCT__

i am honor to be here todai at thi time honor forum to speak with you about a subject that littl discuss __PUNCT__ but emin import in thi __NUM___presidenti_campaign __PUNCT__

over the last sever month all of us have been rightli concern about high_unemploy in the midst of an economi that continu to stumbl __PUNCT__

but littl notic by most american wa a startl piec of new that is partial respons for our grave econom_time __PUNCT__ the fact that america ha slip to fifth in the list of competit nation __PUNCT__

yesterdai __PUNCT__ senat_major major_leader harri_reid sum up quit nice the fantasi econom think that domin washington __PUNCT__ dc todai when he said __PUNCT__ it veri clear that privat_sector sector_job have been do just fine __PUNCT__ it the public_sector sector_job where we lost huge_number __PUNCT__ and that what thi legisl is all about __PUNCT__

that despit the fact that sinc __NUM__ privat_sector sector_job job_loss have been three time greater than govern __PUNCT__ and that feder_employe took home __MONEY___annual which is two and a half_time the u. __PUNCT__ median wage __PUNCT__

that statement qualifi for riplei believ it or not __PUNCT__

the unit_state of america __PUNCT__ histori most success polit and econom experi __PUNCT__ ha prove that a nation root in free_market market_competit ha led the world in innov in area that have advanc the disciplin of medicin __PUNCT__ scienc __PUNCT__ technolog and made our qualiti of life second to none __PUNCT__

but when govern get in the busi of pick winner and loser __PUNCT__ as in the case of the solyndra of thi administr __PUNCT__ it becom our cash for govern clunker __PUNCT__ and wors __PUNCT__ american competit in the world is badli damag __PUNCT__

for america to regain it competit edg in the global_economi __PUNCT__ we must fundament restructur how washington spend_monei __PUNCT__ radic reform the tax_code __PUNCT__ educ more and better train american __PUNCT__ provid for more effici movement of good __PUNCT__ encourag fair_trade trade_relationship __PUNCT__ and reduc unilater regulatori barrier for entri into the marketplac __PUNCT__

the pass of steve_job sadden us all __PUNCT__

he wa more than the co __PUNCT__ founder of appl __PUNCT__

he wa an icon who repres what is great about america __PUNCT__ and he never settl constantli ask employe if thei had produc their best product __PUNCT__

we have alwai been about be on the cut edg lead the world in new idea and innov __PUNCT__

steve job repres that ideal at it best __PUNCT__

who could have imagin just a few year_ago that you could have all of your music __PUNCT__ a camera __PUNCT__ video_camera __PUNCT__ your photo __PUNCT__ your phone __PUNCT__ an encyclopedia all connect to the world at your fingertip __PUNCT__ steve_job could __PUNCT__

he and hi team chang our world for the better __PUNCT__

the steve job spirit still exist in the imagin of young entrepreneur todai __PUNCT__

a recent wall_street_journal articl indic that __NUM__ percent of all student survei by gallup about their aspir respond that thei want to be their own boss __PUNCT__

forti __PUNCT__ five percent of america youth want to start their own busi and __NUM__ percent said __PUNCT__ i will invent someth that chang the world __PUNCT__

the next gener of __PUNCT__ steve_job __PUNCT__ is out there wait to step up and drive the engin of american innov and competit __PUNCT__

entrepreneurship is the fastest __PUNCT__ grow cours of studi on campus nationwid __PUNCT__

so the desir to succe remain __PUNCT__

the challeng is that mani of these student lack basic inform and experi to enter the work_forc __PUNCT__ much less start compani __PUNCT__

now take __PUNCT__ by comparison __PUNCT__ a govern enterpris __PUNCT__ the post_offic __PUNCT__ which yearn to remain commit to pai higher labor_cost that bear no comparison to wage paid in the privat_sector __PUNCT__

the wall_street_journal report __PUNCT__ the u. __PUNCT__ post_offic so desper for self __PUNCT__ preserv is consid sell hunt licens __PUNCT__ countri_music cd __PUNCT__ and coffe to try and make end meet __PUNCT__

thei have fail to innov and keep up with the free_market market_system of deliv product to consum and now ar billion in the red and look to the taxpay for monei __PUNCT__

thei have fail the test of innov __PUNCT__

if these gimmick fail to get them to break even __PUNCT__ perhap thei resort to bake_sale __PUNCT__

the post_offic prove why govern shouldn't displac proprieti function __PUNCT__ that is what steve_job practic as on of hi secret to success __PUNCT__ simplic and sai no to __NUM__ thing __PUNCT__

instead __PUNCT__ the oxymoron of govern run busi is that thei sai ye to everyth and will spend anyth becaus thei not driven by the need for profit __PUNCT__

research __PUNCT__ entrepreneur and investor across america have been paralyz by thi presid anti __PUNCT__ busi polici that have creat sever uncertainti __PUNCT__

as presid __PUNCT__ i will signal by wai of leadership to innov __PUNCT__ that the time ha come to onc again unleash the geniu of adam_smith __PUNCT__ invis_hand __PUNCT__ work to creat the wealth of the nation __PUNCT__

what drive invest and the execut of innov idea is an environ that foster it __PUNCT__

a perfect exampl is israel __PUNCT__ which enjoi __NUM___time the ventur invest than the unit_state __PUNCT__ as a result of their cultur embrac innov __PUNCT__

my american_job __PUNCT__ right now solut ar aim at foster that cultur __PUNCT__ which will turn our economi around and creat high pai_job that come with increas competit and innov __PUNCT__

our nation abil to compet in the global_economi begin with educ __PUNCT__

we must demand strong school so that young_american enter the workforc with the math __PUNCT__ scienc and problem __PUNCT__ solv skill thei need to succe in the knowledg_economi __PUNCT__

educ ha alwai been the gatewai to a better life in thi countri __PUNCT__ and our primari and secondari_school were long consid the world best __PUNCT__

but on an intern math test in __NUM___u. __PUNCT__ high_school school_student rank __NUM__ out of __NUM__ industri_nation survei __PUNCT__

our school can do better __PUNCT__

i got into polit becaus of educ __PUNCT__

as a mom i saw the polit_correct __PUNCT__ dumb down of their curriculum and decid i need to work to improv the educ_system for our kid __PUNCT__

that why i would close the depart of educ and return the control of educ resourc and the decis about how those resourc ar alloc to the local_level where thei ar best made __PUNCT__

not onli doe the depart of educ not know what best for local_school __PUNCT__ thei have taken billion of dollar from the state to pai for their expens bureaucraci __PUNCT__

that sort of govern behavior must end __PUNCT__

our competit depend on well __PUNCT__ educ_peopl __PUNCT__

american_educ scientist and engin have been the drive_forc behind our tech revolut but we not graduat enough of them __PUNCT__

to keep our competit edg and remain the world top tech innov __PUNCT__ we need to rais the math and scienc skill of our student __PUNCT__

colleg_tuition ar out of control while paradox the avail of inform ha never been greater __PUNCT__

the nation young entrepreneur ar graduat with enorm debt that often steer them awai from pursu start a new busi __PUNCT__ and instead toward stabl job that increas their abil to pai down their loan __PUNCT__

everi child deserv a qualiti_educ so thei can succe in life while keep america strong econom and militarili __PUNCT__

we must never ignor the power of human_capit in our quest to be the lead forc for innov and competit __PUNCT__

and we must never forget that educ begin at home and that the famili is the most import compon of ani child educ __PUNCT__ we must protect the integr of the famili in the life of a child __PUNCT__

part of produc an effect workforc mean that we have to reform employ law __PUNCT__

employe deserv the right to work __PUNCT__ and the feder_govern nation labor_relat board shouldn't interfer with that right like thei ar do with boe in south_carolina __PUNCT__

reform employ law also mean make it easier to reward good employe and to find bad on a new line of work __PUNCT__

thi also mean reform our unemploy_insur insur_system that wa creat___NUM__ __NUM___year_ago to help worker through temporari layoff __PUNCT__

under the model __PUNCT__ after busi pick up __PUNCT__ thei could go back to the same_job __PUNCT__ in the same factori __PUNCT__ at the same compani __PUNCT__ sell to the same custom __PUNCT__

that is not the world in which employe now live __PUNCT__

now when worker ar laid off __PUNCT__ the job is gone __PUNCT__

todai unemploy_insur __PUNCT__ even by the admiss of the administr newest econom council_member __PUNCT__ alan krueger __PUNCT__ is a disincent to work and increas the length of jobless __PUNCT__

anoth pillar for competit is a healthi invest climat so our technolog industri will continu to thrive __PUNCT__

hi __PUNCT__ tech capit_invest will flow to the countri where internet deliveri is fast and effici __PUNCT__ where financi_market ar strong __PUNCT__ and where tax ar kept low __PUNCT__

to promot innov __PUNCT__ we should make the research and develop tax_credit perman to maxim the privat_sector innov it encourag in our economi __PUNCT__

that why i have seriou concern about govern get involv in regul of the internet __PUNCT__ and about ambigu in thi legisl __PUNCT__ which could lead to an explos of destruct __PUNCT__ innov __PUNCT__ stall lawsuit __PUNCT__

in the __NUM__ __PUNCT__ s ronald_reagan enact tax_reform that creat a period of unparallel prosper __PUNCT__

i intend to increas our competit by follow hi blueprint for tax reform __PUNCT__ which had as it core_principl to stop tax invest and product __PUNCT__

if america is to onc again regain it foot as the world competit leader __PUNCT__ we must abolish the u. __PUNCT__ tax_code and replac it with a fairer __PUNCT__ flatter __PUNCT__ more simpl on that ha at it core a corpor rate that is on of the lowest in the world __PUNCT__

in addit to extend the capit_gain exempt and modifi the code to promot invest __PUNCT__ the corpor_tax tax_rate must be lower substanti __PUNCT__

i will __PUNCT__

as part of thi revis __PUNCT__ i would address the problem of foreign earn trap abroad and enabl these compani to bring those earn home and invest in america __PUNCT__ a practic known as repatri of american dollar __PUNCT__

repatri and a low corpor_tax tax_rate would incentiv american_busi to return to america shore and spur manufactur in america __PUNCT__

and most importantli repatri is a stimulu to the u. __PUNCT__ economi not fund on the back of taxpay __PUNCT__

uniqu american valu includ the right and opportun to work __PUNCT__ and the right to keep the fruit of your labor __PUNCT__ that it is your monei and not the govern to spend or wast __PUNCT__

without privat_properti right there can be no liberti __PUNCT__ and without liberti there can be no america __PUNCT__

fourteen million of out of work_american __PUNCT__ most of whom were laid off through no fault of their own __PUNCT__ have lost their econom_liberti __PUNCT__

and america job creator and small_busi busi_owner like myself __PUNCT__ have lost our econom_liberti under the weight of __MONEY___trillion annual in complianc cost with govern_regul __PUNCT__

__PUNCT__ togeth we sent __MONEY___trillion in tax to the feder_govern thi year __PUNCT__

by comparison __PUNCT__ job creator spend nearli as much annual to compli with bureaucrat mandat __PUNCT__

__PUNCT__ entrepreneur here ar forc to test promis medic_devic in costli anim studi for year befor thei can advanc their product into clinic_trial __PUNCT__ scott gottlieb write in the wall_street_journal __PUNCT__

__PUNCT__ thi is no wai to run a regulatori process if the fda is seriou about promot medic innov and advanc the public_health __PUNCT__

fda overregul is kill the medic_devic and drug innov sector in the unit_state __PUNCT__ and thi is but on exampl of how govern_regul is stifl american innov and competit __PUNCT__

i will repeal massiv govern overregul __PUNCT__ begin with the environment_protect_agenc that is kill thousand of unit_state job __PUNCT__

that is the first step in legal american_energi energi_product and creat___NUM__ __NUM___million_job __PUNCT__

we alreadi have an epa in each state todai __PUNCT__

thi past week i return to washington to vote for on of the compon of my american_job __PUNCT__ right now econom_recoveri plan __PUNCT__ final free_trade_agreement that the presid could have pass year_ago __PUNCT__ but chose not to __PUNCT__

the benefit of american leadership to open global_market in the past_half __PUNCT__ centuri have been enorm __PUNCT__ a total of __MONEY___trillion higher_incom everi year or nearli __MONEY__ for everi man __PUNCT__ women and child in america __PUNCT__

the advoc of bigger_govern could try to spend twice that much and not accomplish on __PUNCT__ half the good __PUNCT__

i have alwai believ in the power of the american_peopl __PUNCT__ and the import of keep margin_tax_rate low __PUNCT__

i observ first hand the tax_reform the econom genius in washington can dream up doesn't begin to match the prosper gener by pursu privat opportun __PUNCT__

the failur to seek new market is a tax on the american_dream __PUNCT__

we can look around and see the fruit of bring down barrier to trade __PUNCT__ it ha help keep inflat under control __PUNCT__ interest_rate low __PUNCT__ and made mani good more afford to lower __PUNCT__ and middl __PUNCT__ incom consum __PUNCT__

my american_job __PUNCT__ right now solut call for repatri over __NUM___trillion american dollar from oversea __PUNCT__ massiv cut feder_spend by elimin govern_agenc and the size of govern __PUNCT__ repeal_obamacar in it total __PUNCT__ the govern_takeov of our healthcar_system __PUNCT__ cut_tax on invest and product __PUNCT__ includ corpor_tax __PUNCT__ repeal the job and hous destruct act __PUNCT__ better known as dodd __PUNCT__ frank in it total __PUNCT__ repeal __MONEY___trillion in annual job kill regul __PUNCT__ increas export by final free_trade_agreement __PUNCT__ spur new invest in america __PUNCT__ inspir innov __PUNCT__ and legal american_energi energi_product __PUNCT__ includ decreas regul on develop new energi_suppli from our abund domest energi_resourc __PUNCT__ and final enforc america immigr_law __PUNCT__ end taxpay benefit and magnet to illeg_alien and their children __PUNCT__

when the govern borrow __NUM___cent of everi dollar it spend you know we choos an econom train wreck __PUNCT__

which is why admir mullen said __PUNCT__ our nation_debt ha profound nation_secur implic __PUNCT__

john_adam recogn that at critic_time in histori __PUNCT__ a gener is requir to set asid it prefer pursuit and embrac the sacrific need to secur the bless of liberti for the next gener __PUNCT__

we saw it happen with adam __PUNCT__ own gener __PUNCT__ the founder who put everyth on the line and everyth thei own to form a new kind of govern __PUNCT__ on found on the consent of the peopl __PUNCT__ and on dedic to the proposit that all men ar creat_equal __PUNCT__ and endow by their creator with certain inalien right __PUNCT__

thi is our nation creed __PUNCT__

american have alwai look forward to new opportun __PUNCT__ and embrac new challeng __PUNCT__ and we can do so again to leav a better countri for our poster __PUNCT__

we can restor unit_state __PUNCT__ competit __PUNCT__ but to do so we must constrain the reach of govern and protect the right our founder gave their last full_measur of devot to ensur __PUNCT__

mai each on of us as true servant of the peopl and most assuredli of our bless constitut go __PUNCT__ and do likewis __PUNCT__

bill_gate said __PUNCT__ dure the past___NUM___year __PUNCT__ u. __PUNCT__ innov ha been the catalyst for the digit inform revolut __PUNCT__

if the unit_state is to remain a global_econom leader __PUNCT__ we must foster an environ that enabl a new gener to dream up innov __PUNCT__

talent in thi countri is not the problem __PUNCT__ the issu is polit will __PUNCT__

answer great_challeng is noth new to america __PUNCT__

it what we do __PUNCT__

we creat the technolog that land man safe on the moon not becaus it wa easi but becaus it wa hard __PUNCT__

we sent space probe to explor the distant reach of the univers __PUNCT__

we har nuclear_energi __PUNCT__ map the human genom __PUNCT__ creat the internet and pioneer integr circuit that possess the comput power of apollo spacecraft on a singl silicon chip you can bare see __PUNCT__

we can onc again be the leader in global_competit __PUNCT__

america time ha not pass __PUNCT__ onli the baton of respons ha pass to the next gener of __PUNCT__ steve_job __PUNCT__ and the next gener of leader need to creat the competit econom cultur thei need to flourish __PUNCT__

i am readi to meet those challeng and do the hard_work necessari to restor america to the econom leader it can be for america children __PUNCT__ your children __PUNCT__ my children __PUNCT__

god_bless you and god bless the unit_state of america __PUNCT__