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LWV League of Women Voters of the Cincinnati Area Education Fund
State of Ohio March 6, 2012 Election
Smart Voter

Eric LaMont Gregory
Answers Questions

Candidate for
United States Senate; Republican Party


The questions were prepared by the League of Women Voters of Ohio and asked of all candidates for this office.
Read the answers from all candidates (who have responded).

Questions & Answers

1. According to the U.S. Census, median income has declined and the number in poverty has increased. What steps should be taken to strengthen the U.S. economy and address unemployment?

Short answer: Congressional oversight of our financial institutions. The stock market ‗boom` of the 1920`s increased the income of a small fraction of the American people, while the earnings of most workers fell. Although it represented lower production costs, it also limited the ability of workers to purchase new goods. The fall in consumer demand existed as speculation in the investment sector inflated stock prices. Banks allowed invertors to use stocks as collateral. When stocks dropped in value investors could not repay their loans, the banks were left holding worthless collateral. The banks failed and brought productive businesses down with them. Banks foreclosed mortgages in a desperate attempt to stay solvent. As it was in the crash of the 1920`s, so it was in the first decade of the 21st Century. We must never allow speculation (gambling) to destroy jobs and the productive capacity of this country, ever again.

2. How would you reform the tax code?

Short answer: Simplify the tax code. There are two proposed tax restructuring systems that have a reasonable chance of reforming our tax code; the flat-tax, and the fair-tax. I would favor a family-friendly flat-tax for individuals, and a fair-tax for businesses. We spend billions of unproductive dollars collecting taxes, and arguing tax disputes in our courts. The IRS as it now exists needs to be abolished. The flat-tax for families would be set at a rate of 11% for a family of three on all income in excess of $35,000. A simple postcard like tax form would be filed annually. The fair tax for businesses would be set at 17.5%. The fair tax is designed to tax purchases. The more one purchases, for example, the more the roads on which the delivery of goods depends deteriorate. Taxing consumption, purchases, is a straightforward and fair means of collecting tax revenue.

3. How would you change Medicare to make it sustainable?

Short answer: Stop borrowing from the Social Security Trust Fund The Social Security Trust Fund is running out of money, not because there has not been enough money paid into the system to sustain it, but because various administrations have been borrowing money from the Trust Fund that has not been paid back into the fund. The legality of this practice has not been challenged, because it has been convenient for various administrations to use these funds for their pet projects or wars without having to raise taxes. Perhaps, the word trust is not clearly understood.

4. Do you believe it is possible to protect the environment while preserving American jobs? What are examples of how this can be done?

Short answer: We have no choice but to preserve both jobs and the environment It is our responsibility, our opportunity, to conquer the blights on the human condition; hunger, ignorance, and disease. It will be of little consequence, however, if we so foul our air, water and soil that the environment can no longer sustain us. The Clean Air Act and the Federal Water Pollution Control Act are examples of federal environmental protection measures. The problem arises when regulations, such as those concerning coal power plants threaten jobs. Federal agency regulations are developed over several years, and it is the responsibility of our elected officials to exercise oversight of federal agencies. It is peculiar that our elected officials do not hold hearings to ask federal agencies as to the likely impact on jobs of a regulation while it is being proposed, but complain about them after they are in force.

Responses to questions asked of each candidate are reproduced as submitted to the League.  Candidates' statements are presented as submitted. Word limits apply. Direct references to opponents are not permitted.

Read the answers from all candidates (who have responded).

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Created from information supplied by the candidate: February 29, 2012 07:47
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