Kasich believes tax cuts for both corporations and individuals and fiscal discipline will raise the economy.
NEIL CAVUTO: We are not even two weeks into this year and investors have already lost 1.6 trillion dollars in market value which makes it the worst start to a new year ever. Many are worried that things will get even worse and that banks and financial stocks are particularly vulnerable. If this escalates like it did back when Barack Obama first assumed the presidency what actions would you take if this same thing happens all over again just as in this example you are taking over the presidency?
JOHN KASICH: Look, it takes three things basically to grow jobs and I’ve done it when I was in Washington and we had a balanced budget, had four years of balanced budget, paid down half a trillion in debt and our economy was growing like crazy. It’s the same thing that I did in Ohio. It’s a simple formula. Common sense regulations, which is why I think we should freeze all federal regulations for one year except for health and safety. It requires tax cuts. Because that sends a message to job creators that things are headed the right way. And if you cut taxes for corporations and you cut taxes for individuals you’re going to make things move. Particularly the corporate tax which is the highest of course in the world. But in addition to that we have to have fiscal discipline. We have to show that we can march to a balanced budget. And when you do that, when you’re in a position of managing regulations when you reduce taxes and when you have fiscal discipline you see the job creators begin to get very comfortable with the fact that they can invest. Right now you have taxes that are too high, you have regulations. I mean come on their affecting everybody here particularly our small businesses. They’re in a position where they’re smothering people and I mean are you kidding me? We’re nowhere close to a balanced budget or fiscal discipline. Those three things put together are going to get confidence to job creators and you will begin to see wages rise, you will begin to see jobs created in a robust economy and how do I know that? Because I’ve done it. I did it as chairman of the budget committee working with Senator Domenici and I’ve done it in the state of Ohio as the chief executive. Our wages are growing faster than the national average. We’re running surpluses and we can take that message and that formula to Washington to lift every single American to a better life.
14 January, 2016: Republican debate North Charleston, South Carolina.