Former President Bill Clinton made a surprise appearance at the Aspen Ideas Festival in Colorado Saturday evening, sharing his opinions on the debt ceiling, Republican candidate Jon Huntsman and corporate taxes, among other topics.
Though Clinton raised the corporate tax rate for corporations that made over $10 million annually while he was in office, he advocated for President Barack Obama to lower it now.
“It made sense when I did it,” he said. “It doesn’t make sense anymore — we’ve got an uncompetitive rate. We tax at 35 percent of income, although we only take about 23 percent. So, we should cut the rate to 25 percent, or whatever’s competitive, and eliminate a lot of the deductions so that we still get a fair amount, and there’s not so much variance in what the corporations pay. But how can they do that by Aug. 2?”
If Congress doesn’t raise the debt ceiling, Clinton said, “it will make the deficit problem worse and make it much more difficult to recover because it will be harder for people to get credit — even harder than it is now.”
Obama must stay strong and “not blink” on the debt ceiling issue until it is raised.
And though Clinton backs Obama for 2012, and believes he will be re-elected, he’s drawn to at least one of the Republican candidates.
“Huntsman hasn’t said what he’s for yet but I kind of like him,” he said. “He looks so authentic. He looks like a real guy, a real human being. I like his family, I like that he’s kind of got an iconoclastic way. I mean, he was a pretty good governor.: