Remarks by President George W. Bush at Tax Policies for 4% Growth

Thank you very much. Thank you very much, Steve Forbes—overly generous in your comments, and I appreciate it. I appreciate you all coming. I appreciate our sponsors, and I want to thank not only Steve and Forbes Media, but also the Sinquefields, the Bosarges, the Trotts, and the U.S. Chamber. I appreciate the governors being here. It’s a pretty cool job, isn’t it? I’m looking forward to hearing from you.

I want to thank my old friend Henry Kissinger. It’s good to see you, Dr. Kissinger. Thank you for your time. I also appreciate those who serve on the board, our supporters, and Amity Shlaes for helping get this conference going.

We’re proud to host this conference. It’s part of our mission to enlighten and to achieve results. I toured the facility, and it is an awesome building on a great campus. Robert Stern, who is a world-class architect, has done a fantastic job. The gardens are going to be beautiful. I look forward to the opening in April of 2013.

The Bush Center is comprised of three parts. First, the library and the archives. The library and archives will contain over four million photos, tens of thousands of boxes of materials, and hundreds of millions of emails—all stored and sorted at some point in time so they can be analyzed by historians.

Second, there will be a museum. Mark [Langdale] mentioned the museum. It will really be about presidential decision-making. Frankly, the museum is not going to last if it’s just about me. It will be about principles and how decisions are made. It’s going to be interesting. For example, we have a piece of the World Trade Center. It’s going to remind people about that fateful day. Here’s the lesson, by the way: you’re going to be dealt a hand you don’t want to play, and it’s going to happen to all of us. It certainly happens when you’re president. The question is not whether you’re going to be dealt a hand; it’s how you’re going to play it.

And then there’s the Institute. When you get out of office, it’s kind of a daunting feeling. You’ve served, you’ve given it your all, and all of a sudden you’ve got some years ahead of you. I’ve decided to stay out of the limelight. I had plenty of it. I don’t think it’s good, frankly, for our country to undermine the president, and I don’t intend to do so. I do intend to remain involved in areas I’m interested in.

So the Bush Institute, run by Jim Glassman, is an opportunity to be engaged in public policy in a positive way. The building isn’t open yet, but the Institute is. Every day, our scholars, fellows, and directors come to work to advance the mission. How do we promote freedom? How do we honor traditional values—timeless values? Our programs are designed with clear goals in mind, and we tend to hold people accountable. We want those who contribute to the Institute to know that we’re going to achieve concrete results that have an effect on our country and our world.

In order to have a more prosperous and free America, we need an education system that works. The Bush Center is part of a reform movement that insists on accountability as the key to educational excellence. One of the things we’re doing is focusing on a key component of educational excellence: better recruiting and training our nation’s principals.

We believe that all human life is precious, and we know we have a calling to help save lives in the developing world. I believe we’re better people when we heed the admonition that to whom much is given, much is required. Here at the Bush Center, we’re going to act on that call. One way we’re doing that is through the Pink Ribbon Red Ribbon campaign, which aims to diagnose and treat cervical cancer across Africa. We’ve assembled a group of public and private partners, and we’re achieving measurable results.

We believe that freedom is universal—that deep in every soul is the desire to be free. So I’m not surprised that in the Middle East, when given the chance, people demand their God-given rights. We recently announced a one-of-a-kind archive—the Freedom Collection—where the stories of dissidents, political prisoners, and heroic figures in the march of freedom will be preserved and made available online. It’s important to record figures like Václav Havel, Ellen Johnson Sirleaf, and the Dalai Lama, as a reminder that we cannot become isolationists and hope for a peaceful tomorrow. It’s in our interest to support those willing to take risks for freedom, and it sends a signal to those on the front lines that the United States hears them. If you’re interested, visit freedomcollection.org. I think you’ll find it a meaningful contribution to the foundation for peace.

We believe women will lead the democracy movement in the Middle East. To that end, we’ve invited Egyptian women to come to the United States to see how civil society has developed here, to meet mentors, and to return home encouraged and confident, knowing they have support. One goal is for them to establish a women’s network across Egypt to provide strength and solidarity, while reminding their fellow citizens that democracy requires pluralism, respect for minority rights, the rule of law, and that democracy yields peace.

We are also advancing freedom by supporting our patriots and veterans. Through the Military Service Initiative, we spotlight effective nongovernmental organizations that support veterans. When you give money to NGOs, it’s often hard to know whether it’s well spent—we help provide that clarity.

I’m often asked if I miss the presidency, and I really don’t. I enjoyed it—it was an unbelievably interesting experience. It was inconvenient having to stop at stoplights coming over here, and I guess I miss that. I do miss being commander-in-chief. I admire our military deeply. The Bush Institute gives Laura and me an opportunity to repay our veterans as best we can. One way we do that is by taking veterans mountain biking in Palo Duro Canyon. I love mountain biking, but I don’t love being beaten by a one-legged veteran—though it’s likely to happen. We also sponsor a golf tournament for veterans as a way to say we love you, we honor you, and we thank you.

Finally, we believe in free enterprise. We believe a stronger economy provides greater opportunity for our citizens. One of the clearest expressions of freedom is that the collective demand of our citizens determines what is produced. Government is important, but government should trust the people.

Much of today’s political debate rightly focuses on the balance sheet. Debt-to-GDP is high, and entitlement obligations are daunting. We believe that to address these challenges, the first priority must be growing the private sector. Growth increases revenues—the pie grows, the debt relative to the pie shrinks—and with fiscal discipline, we can better address deficits and entitlements.

This July, the Bush Institute will publish a book. I know that’s staggering for some cynics—first I published a book, and now the Institute is publishing one. They didn’t think I could read, much less write. The book is called The 4% Solution. Twenty-one experts, including five Nobel laureates—some of whom are here—offer ideas for achieving four percent private-sector growth. It’s ambitious, but most believe it’s doable. The book addresses wasteful spending, entitlement reform, immigration, trade, energy policy, and, of course, pro-growth tax policy.

What’s the best tax policy? One that grows the private sector. If the goal were public-sector growth, this would be a short conference—just raise taxes. But we believe the best policy is one that creates a robust private sector. Seventy percent of new jobs in America are created by small business owners. Most small businesses pay taxes at the individual income tax level, so raising taxes on the so-called rich raises taxes on job creators. If you want growth, you have to leave capital in the hands of those who create jobs.

Raising taxes also takes money out of consumers’ pockets. Uncertainty about taxes causes capital to sit on the sidelines, and without capital moving, private-sector growth stalls. That’s what we’re here to discuss today, and I think it will be a fascinating day.

I’m looking forward to the discussions and to hearing from our first speaker.

Governor Chris Christie has caught the attention of many people, including Texans. Governor, we admire your enormous personality, your robust defense of freedom, and your belief in the individual. We respect the courageous stands you take, and we’re looking forward to hearing from you today. Welcome, Governor of New Jersey.