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 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 job have been do just fine __PUNCT__ it the public 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 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 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 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 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 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 system that wa creat __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 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 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 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 product and creat __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 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__
