The eight highest polling candidates in the Republican field came together in Milwaukee, Wisconsin and debated their fiscal policies on Fox Business. After the controversy surrounding the previous debate on CNBC, the moderators were more lenient towards the candidates, allowing them to selectively answer questions and take twice as long to do so. With the primaries beginning on February 1st, this debate gave the candidates a chance to clearly distinguish their economic policies from each other’s.
$15 Minimum Wage
The three leading candidates, Donald Trump, Dr. Ben Carson and Sen. Marco Rubio, said raising the minimum wage will kill jobs and fail to address income inequality. They also emphasized the need for the United States to regain a competitive edge over countries like China and Mexico to attract businesses.
Taxes
Being a Republican debate, it should be no surprise that all candidates want to reduce taxes. The general argument is that the tax code is far too complicated even for experts and it must be simplified. The approach, however, varies from candidate to candidate. Some want to remove regulatory taxes and establish flat taxes, while others want to completely rewrite the tax code. Senators Ted Cruz and Rand Paul took it even further by stating that they would abolish the Internal Revenue Service.
Immigration
The candidates agreed that the country needs to increase its border security, however, they differed drastically when it comes to handling undocumented immigrants that are already here. Unsurprisingly, Trump said that we should deport all of the estimated 11.5 million people. Rubio, governors Jeb Bush and John Kasich said those undocumented immigrants should be given a chance to be naturalized provided that they, among other conditions, have a clean criminal history, learn English and pay a penalty fee.
Foreign Policy
Most of the candidates lamented President Obama’s “weak” foreign policy and pledged to strengthen the United States’ military. All the candidates, save Paul and Trump, said they wanted America become the world’s leader again, in general, and be more proactive towards the Islamic State and Russia, in particular. Trump said he wanted to delegate conflicts, leaving the Islamic State to Russia and Ukraine to the European Union, while Paul said he wanted to primarily focus on protecting the country itself.
Regulations
All the candidates said they believe that most regulations put too much of a burden on businesses, especially small businesses. With financial regulations like the Dodd-Frank Act, they argued that smaller banks are left shouldering the burden, while the larger ones are able to thrive. Each of the candidates also used the same logic to denounce environmental regulations, saying that they prevent small businesses from succeeding.