Joe Wilson

Declaring the second year of federal stimulus as simply “more borrowing and spending,” Second District Congressman Joe Wilson touted an alternative job creation plan on Wednesday.

Speaking to Orangeburg businessmen during a stop at Cox Wood Preserving, Wilson talked about the GOP-backed Economic Recovery and Middle-Class Relief Act that was introduced in January 2009. Wilson said the bill’s initiatives have been proven during Democratic and Republican administrations.

“There are across-the-board tax cuts to provide consumers with liquidity, which drives up employment,” the Republican said. “It increases the child tax credit, and reduces the capital gains and dividend taxes.

“Doing this will help encourage people to develop property, and then you would have construction, jobs and a greater tax base to help the schools. More spending and borrowing is not the answer. We need to have incentives for consumers to keep more of their own money.”

The legislation calls for a 5 percent income tax cut, allowing small businesses to deduct 20 percent of their income and make all withdrawals from individual retirement accounts tax- and penalty-free.

However Bill Cox Jr., chairman of Cox Industries, asked if leaders could do more to help citizens understand that they must be prepared to weather the soft economy.

“I remember the tax cuts in 1981,” Cox said. “I also remember 1982 was a bad year.”

Wilson’s Orangeburg stop was part of a week-long speaking tour across the Second District. His initiative opened Tuesday with an online town hall meeting that he said drew 10,000 participants. He noted most of the comments concerned unemployment.

VIDEO: Getting to know Joe Wilson

GOP lieutenant governor hopeful Bill Connor of Orangeburg was on hand for the event. He said, “One of the things I’ve talked about at the state level is ending the corporate tax and the income tax.

“That will help grow business here and bring business in, particularly in a place like Orangeburg with incredible unemployment rates. We have got to move forward with jobs first.”

Wilson also addressed President Obama’s decision to discontinue the Yucca Mountain project in Nevada. The site was supposed to store nuclear waste that has been at South Carolina’s Savannah River Site.

“That’s where the waste should be,” Wilson said. “It’s a former nuclear testing site that is a closed area. SRS has major aquifers in the area and it’s more prone to earthquakes.

“South Carolina companies have paid $1.2 billion toward creating Yucca Mountain. It’s ironic that the president now wants to expand nuclear power yet cut a potential waste disposal site that has been planned for 25 years.”

Wilson says he supports the federal lawsuit brought by S.C. Attorney General Henry McMaster against North Carolina over the diversion of 10 million gallons daily from the Catawba River basin.

“During the recent drought, Carolina Eastman was affected almost to the point where they had to shut down because they depend on the water for cooling in their process,” Wilson said. “They were going to have to spend millions of dollars to lower the water intake on the river to provide for water. That’s why it’s very important that states not manipulate the watershed levels.”

TheTandD.com