The moderator posed a question about the payment of taxes and how to pay for a tax cut.
Biden criticized holding tax cuts to the middle class hostage. He criticized 120 thousand families getting a half trillion dollars in tax relief over 8 years, despite the fact that they each had over a million dollars in income. He stated that Reagan gave specifics on tax cuts, and that what Ryan proposes has never been done before. At bottom, tax cuts cannot be given to the people making $8 million dollars a year. Ryan indicated that their administration would create 7 million new jobs. He stated that taking 28 percent from small business profits was enough. The Canadians only take 15 percent from small business. He stated that Obama wants a 40 percent tax on small business. Ryan also argued that the deficit should not be raised. He would lower rates and forgo $1.2 trillion in deductions to the rich. Ryan assured the audience that Romney would work with Congress as he did in Massachusetts where 87 percent of the legislature was Democratic. Ryan indicated that 97 percent of small businesses make under $250 thousand dollars a year. He fears overtaxing small business.
The moderator posed a question about cuts to the defense budget and where
the line should be drawn.
Ryan stated that the defense budget shouldn't be cut by a trillion dollars. The navy will be at its smallest since before World War I. Biden stated that there would be automatic cuts to defense if the military didn't act. Besides, the Joint Chiefs of Staff made the recommendations on the nature of the automatic cuts.
The moderator asked whether or not the recruitment goal had been reached in
Ryan argued that if the Taliban haven't come back, the 2014 date for withdrawal would be agreeable. He observed that the job there was short of amazing and that he would take the recommendation of General Petraeus. Ryan would make sure that the commanders have what they need to get the job done. He feared the unraveling of the Obama policy by broadcasting a date to the enemy and emboldening them. Ryan explained that when the snows begin the Taliban would be contained. He cautioned not to pull out before the mission has ended. Ryan doesn't want to be stuck fighting the counterinsurgency with fewer troops. He decried the fact that we are sending fewer people to the East ( front of the U.S. engagement in Afghanistan). Biden stated that he was in Afghanistan and that Al Qaeda was decimated. He
pointed out that the training of the Afghan army was centralized. Biden believes that we can be out by 2014 and that 49 of our allies agree. He stated that Afghanistan should take care of its own security. In addition, the United States will save $800 billion. Biden admitted that it would take months to draw down our forces. He stressed that we trained the Afghan forces to take over. Biden wants to send more Afghan troops to do the job.