Over the last week, Paul held employee town halls in Wisconsin’s First District. The first was at WPC Technologies. Some excerpts of Paul’s answers below:
Reforming the tax code:
“The biggest issue we’re working on right now is our tax system. Right now we tax American manufacturers at much higher tax rates than our foreign competitor’s tax theirs. You guys are an LLC so the top tax rate on WPC is 44.6%. So if you have a good year, you’re paying a 44.6% federal tax rate. Guess what the Canadians would be taxing themselves, same kind of company? 15%. The English are 18%. The Chinese are 25% and going down from that. The Irish are 12.5%.”
“So we are taxing American manufacturers in many cases at double the tax rate that our foreign competitors are taxing theirs and that makes us really uncompetitive. So one of the reasons we are doing tax reform this year is to not just have more jobs and faster economic growth, but put American businesses and manufacturers on a competitive scale globally.”
Assessing the threat of North Korea:
“North Korea tested what they claimed to be an ICBM. There is always a question about what is it that they actually test fired and what they didn’t. But the problem basically is North Korea bracing to have a nuclear weapon that they can deliver on a long range missile. That is something that we cannot accept as a nation if we want to preserve our own safety. This is not a regime that we want in possession of nuclear weapons because: Number one, they could use it themselves; and number two: If they want to do this, they could sell it to somebody that will use it. . . . And so, it is a real problem.
“So it is a big concern. Quite frankly it’s my number one current foreign policy concern.”
Afterwards, Paul visited Burlington Graphic Systems for another employee town hall.
Employees ask Paul questions at Burlington Graphic Systems
Excerpts of Paul’s answers are below:
Repealing and replacing Obamacare:
“..The employer market, it is not affected by this bill. This bill, what we call Obamacare, is in the individual market. That’s roughly ten 10% of Americans . . . who buy their own insurance because they don’t get it through their job.”
“The problem is that marketplace is collapsing. And more and more insurers are leaving the marketplace so there are fewer and fewer choices and their premiums are going up double digits and so there is a collapse of the individual market and that’s what this is all about. It doesn’t affect the employer based market. 150 million people get their insurance from their job, so this doesn’t effect that at all. Anybody else?
Getting things done for the American people:
“We are actually very optimistic. . . . I know what we need to do. We need to fix this tax code. We need to make sure that we get this energy policy right, so America will be the dominant energy producer in this world. We need to get our regulations in check. . . . We are not focusing on getting credit, we are focusing on getting the job done.”
“Because we have a real chance of getting all of this done, it is the first time in a long, long time we have felt this optimistic.”