Hillary Clinton in 2008 Democratic primary debate in Philadelphia, April 16, 2008

On Corporations: Take back $55B in Bush’s industry give-aways

I have a plan to take away $55 billion of the giveaways and the subsidies that the president and Congress have lavished on the drug companies and the oil companies and the insurance companies and Wall Street. And I have a plan to give that money back--give it back in tax cuts to the middle class--to people who deserve it, who have been struggling under this president, who feel invisible, who feel like they’re not even seen anymore.

Now, obviously, I can’t do this alone. I can only do it if I get people who believe in me and support me and who look at my track record and know that I’ve spent a lifetime trying to empower people, trying to fight for them.

And I will turn this economy around. We will get back to shared prosperity and we will see once again that we can do this the right way so it’s not just a government of the few, by the few and for the few.

On Education: End predatory student college loan rates over 20%

On Energy & Oil: Investigate gas price manipulation; add windfall profits tax

A: #1, we are going to investigate these gas prices. The federal government has tools that this administration will not use, in the Federal Trade Commission, because I believe there is market manipulation going on, particularly among energy traders. We’ve seen this movie before, in Enron, and we’ve got to get to the bottom to make sure we’re not being taken advantage of. #2, I would quit putting oil into the Strategi Petroleum Reserve and I would release some to help drive the price down globally. And #3, if there is any kind of gas tax moratorium, as some people are now proposing--

Q: Like John McCain.

A:--like John McCain, and some Democrats, frankly. What I would like to see us do is, if we have $4 gas, then we should have a windfall profits tax on these outrageous oil company profits, and put that money back into the highway trust fund, so that we don’t lose out on repair & construction & rebuilding.

On Energy & Oil: FactCheck: Yes, FTC is investigating gas price manipulation

In an article we posted when John Edwards raised this issue, we noted that the FTC has repeatedly looked into allegations of market manipulation and fixing of gasoline prices. So far, it has found nothing to prosecute, not even in the post-Hurricane Katrina gas price spikes.

The FTC isn’t sitting on its hands as prices shoot skyward, at least according to information on its Web site. It monitors retail gas prices in 360 U.S. cities, to look for suspicious pricing. But the FTC does not disclose its ongoing investigations.

On Gun Control: Balance lawful gun ownership & keeping guns from criminals

CLINTON: I respect the Second Amendment. I respect the rights of lawful gun owners to own guns, to use their guns, but I also believe that most lawful gun owners whom I have spoken with for many years across our country also want to be sure that we keep those guns out of the wrong hands. And as president, I will work to try to bridge this divide, which I think has been polarizing and, frankly, doesn’t reflect the common sense of the American people. We will strike the right balance to protect the constitutional right but to give people the feeling & the reality that they will be protected from guns in the wrong hands.

On Gun Control: Give local police access to federal gun tracking info

I will also work to reinstate the assault weapons ban. We had it during the 1990s. It really was an aid to our police officers, who are now once again, because it has lapsed--the Republicans will not reinstate it--are being outgunned on our streets by these military-style weapons.

I will also work to make sure that police departments get access to the federal information that will enable them to track illegal guns, because the numbers are astounding. Probably 80% of the guns used in gun crimes got there illegally. And under the Republicans, that information was kept from local law enforcement.

On Gun Control: Let states & cities determine local gun laws

A: I want to give local communities the authority over determining how to keep their citizens safe. This case you’re referring to is before the Supreme Court.

Q: But what do you support?

A: I support sensible regulation that is consistent with the constitutional right to own and bear arms.

Q: Is the DC ban consistent with that right?

A: I think a total ban, with no exceptions under any circumstances, might be found by the court not to be. But DC or anybody else [should be able to] come up with sensible regulations to protect their people.

Q: But do you still favor licensing and registration of handguns?

A: What I favor is what works in NY. We have one set of rules in NYC and a totally different set of rules in the rest of the state. What might work in NYC is certainly not going to work in Montana. So, for the federal government to be having any kind of blanket rules that they’re going to try to impose, I think doesn’t make sense.

On Principles & Values: Faith is not just something to cling to in hard times

OBAMA: I meant: People are going through very difficult times right now. When people feel like Washington’s not listening to them, then politically they end up focusing on those things that are constant, like religion. They end up being much more concerned about votes around things like guns, where traditions have been passed on.

CLINTON: I am the granddaughter of a factory worker from the Scranton lace mills, who was also very active in the Court Street Methodist Church. I don’t believe that my grandfather clung to religion when Washington is not listening to them. I think that is a fundamental misunderstanding of the role of faith in times that are good and times that are bad. And I similarly don’t think that people cling to their traditions, like hunting and guns, when they are frustrated with the government. I just don’t believe that’s how people live their lives.

On Principles & Values: Visited Bosnian war zone, but mistake to call it sniper fire

Source: 2008 Philadelphia primary debate, on eve of PA primary Apr 16, 2008

On Social Security: No lifting cap on payroll tax; that taxes middle class

OBAMA: I not only have pledged not to raise their taxes, I would cut their taxes. We are going to offset the payroll tax, the most regressive of our taxes.

CLINTON: I don’t want to raise taxes on anybody. I’m certainly against one of Senator Obama’s ideas, which is to lift the cap on the payroll tax, because that would impose additional taxes on people who are educators, police officers, firefighters and the like.

OBAMA: What I have proposed is that we raise the cap on the payroll tax, because right now millionaires and billionaires don’t have to pay beyond $97,000 a year. Now most firefighters & teachers, they’re not making over $100,000 a year. In fact, only 6% of the population does. And I’ve also said that I’d be willing to look at exempting people who are making slightly above that.

Q: But that’s a tax on people under $250,000.

OBAMA: That’s why I would look at potentially exempting those who are in between.

On Social Security: Bipartisan commission, like in 1983, to address crisis

CLINTON: I am totally committed to making sure Social Security is solvent. You’ve got to begin to reign in the budget, pay as you go, to try to replenish our Social Security Trust Fund. And with all due respect, the last time we had a crisis in Social Security wa 1983. Pres. Reagan and Speaker Tip O’Neill came up with a commission. That was the best and smartest way, because you’ve got to get Republicans and Democrats together. That’s what I will do. And I will say, #1, don’t cut benefits on current beneficiaries they’re already having a hard enough time. And #2, do not impose additional tax burdens on middle-class families.

OBAMA: That commission raised the retirement age, and also raised the payroll tax. So Sen. Clinton can’t have it both ways.

On Social Security: FactCheck: No, teachers & police won’t pay if cap over $102K

In fact, only individuals earning more than $102,000 a year would be affected. A spokesman for the union representing Philadelphia’s public school teachers tells FactCheck.org, “There are some affluent suburban districts where only the most senior educators with a master’s degree and probably 25 or more years of experience whose salaries might approach 100k. However, I think that’s a very small number overall.“

As for Philadelphia police officers, an officer would have to work more than 1,200 hours of overtime in a year to push even the highest base salary above $102,000.

The Clinton campaign pointed to budget figures showing that principals of Philadelphia’s large high schools earn $111,500 on average.

On Tax Reform: Absolutely no tax increase on people earning under $250K

CLINTON: I will let the taxes on people making more than $250,000 a year go back to the rates that they were paying in the 1990s.

Q: Even if the economy is weak?

CLINTON: Yes. And here’s why: #1, I do not believe that it will detrimentally affect the economy by doing that. We used that tool during the 1990s to very good effect and I think we can do so again I am absolutely committed to not raising a single tax on middle class Americans, people making less than $250,000 a year. In fact, I have a very specific plan of $100 billion in tax cuts.

Q: An absolute commitment, no middle-class tax increases of any kind.

CLINTON: No, that’s right. That is my commitment.

Q: Senator Obama, would you take the same pledge? No tax increases on people under $250,000?

OBAMA: Well, it depends on how you calculate it. But it would be between $200,000 and $250,000.

On Tax Reform: Perhaps raise capital gains tax, but at most to 20%

OBAMA: What I’ve said is that I would look at raising the capital gains tax for purposes of fairness.

Q: Sen. Clinton, would you say, “No, I’m not going to raise capital gains taxes”?

CLINTON: I wouldn’t raise it above the 20% if I raised it at all. I would not raise it above what it was during the Clinton administration.

Q: “If I raised it at all”. Would you propose an increase in the capital gains tax?

CLINTON: You know, I’m going to have to look and see what the revenue situation is. We now have the largest budget deficit we’ve ever had, $311 billion. We went from a $5.6 trillion projected surplus to what we have today, which is a $9 trillion debt.

On War & Peace: Remove a brigade from Iraq every month, no matter what

A: Yes, I am. We have a system in our country of civilian control of the military. And I am convinced that it is in America’s best interest to immediately begin to withdraw within 60 days.

Q: But aren’t you essentially saying, “I know better than the military commanders here“?

A: No, what I’m saying is that no one can predict what will happen. But one thing I am sure of is that our staying in Iraq--continuing to have many [troops killed or] injured as well as Iraqi casualties--is no way for us to maintain a strong position in the world. We don’t know what will happen as we withdraw. We do know what will happen if we stay mired in Iraq. Our military will continue to be stretched thin. The Iraqi government will not accept responsibility for its own future.

On War & Peace: Massive retaliation from US if Iran attacks Israel

OBAMA: I will take no options off the table. It is very important that Iran understands that an attack on Israel is an attack on our strongest ally in the region, and the US would take appropriate action.

CLINTON: I think that we should be looking to create an umbrella of deterrence that goes much further than just Israel. Of course I would make it clear to the Iranians that an attack on Israel would incur massive retaliation from the US, but I would do the same with other countries in the region. We are at a very dangerous point with Iran. The Bush policy has failed. Iran has not been deterred. #1, we’ve got to begin diplomatic engagement with Iran. #2, we’ve got to deter other countries from feeling that they have to acquire nuclear weapons. And finally, we cannot permit Iran to become a nuclear weapons power.