Huntsman Talks Taxes [VIDEO]

met with members of the at the law offices of to talk about his new plan to create jobs if elected president, as well as hear some of the concerns of local business owners.

Huntsman’s plan, called Time to Compete, which he released on Aug. 31, is a four-prong plan calling for tax and regulatory reform, energy independence, and expansion of new free trade agreements.

“We have to grow out of the hole that we’re in,” he said. “Those of you who work in the private sector know that you have to grow … you’re able to sustainability and this country has to do the same thing.”

On reforming taxes, Huntsman said his plan would lower the corporate income tax from 35 percent to 25, noting that most businesses don’t pay the higher rate anyway, and would completely eliminate capital gains taxes and taxes on dividends, the alternative minimum tax. He also proposed simplifying the income tax code to three rates from six as well as eliminating all deductions and tax credits.

Individuals earning less than $34,500 would be taxed at an 8 percent rate instead of 10 to 15; incomes of $34,500 to $174,400 would be taxed at 14 percent instead of 25 to 28; and incomes more than $174,400 would be taxed at 23 percent instead of 28 to 35.

Huntsman said his proposal would “radically” change the current structure, “clearing the cobwebs out,” eliminating loopholes and corporate welfare. He said the rates would be competitive, “something this country really needs.” Huntsman said the three rates were also revenue neutral.

“A lot of people can afford to have the lawyers and lobbyists do their bidding in legislatures and on Capitol Hill,” he said.

Huntsman also promoted bringing the bulk of the troops home from Afghanistan and working to bring the United States to energy independence.

Questions from business folks

, who also runs Page Belting, asked how, if elected, Huntsman would get Congress to approve his ideas.

“When the voice of the people speak, folks listen,” Huntsman said, regardless whether it was local or national.

Huntsman said people were demanding action because things were so bad. He said he was able to accomplish his ideas as governor by doing the same thing – putting the ideas out there, campaigning to promote them, receiving assurance that it was what the people wanted, and then getting it done. Huntsman noted that President Barack Obama had a similar opportunity but instead of working on job creation, he put through his health care plan.

“There’s nothing else he can do,” he said. “People give you only so much time in which to get things done. I found as governor that they give you two years and then, they begin to want to analyze what you’ve done, to make sense of it. That’s kinda where the country is right now.”

Robert Segal of Sanel Auto Parts said he was a bit surprised Huntsman didn’t talk about education. He said that most of his business was from products made overseas and he called that “OK.” Segal said instead, better education was needed to expand technology and opportunities in the workplace.

“And I’m not talking about service sector jobs at Wal-Mart, without insurance,” Segal said, adding that he didn’t know how his kids were going to be able to afford to go to college.

Huntsman said in order to be competitive in the 21st Century, the United States needed an educated workforce. He said after raising seven children, he understood the cost problem. Huntsman said investments and expansion into early childhood education were needed saying that with children, cognitive attainment needed to be established at about the age of 6. He said the country’s “one size fits all” model of education wasn’t working, because it limited opportunities for students.

“I believe what we can do a better job of is custom fit training at community colleges,” he said, “In terms of bringing in people from the private sector and understanding what their needs are going in and fashioning the curriculum so that kids, while they’re in the classroom, are learning more in order to make them more valuable to the marketplace.”

Huntsman also believed that new languages should be offered and studied in school, including Arabic and Mandarin, instead of French. He would also like to ensure that local control of education is not taken from communities.

City Council Rob Werner asked about Huntsman’s Commission on Strengthening Utah's Democracy and wondered what he would do as president to improve transparency in political campaigns.

Huntsman called it “a great question,” and said he created the commission to start a dialog about improving campaigns and implementing reforms like term limits, which he couldn’t get approved by the legislature there. He also advocated campaign finance reform and greater transparency.

“Frequently, when people look at the process, they become very cynical, and maybe they should be,” he said.

Huntsman said he would work toward immediately disclosure on donations in an attempt to “let the sun shine in.”