CBS "60 Minutes" on 23 September 2012
Small government, reform of social security, lower taxes. Tax rates will go down 20%, but deductions will go down. Tax rate for everyone will go down. Pelley got into capital gains. R. noted company taxed first, then capital gains. Pelley: which taxes are going to be eliminated? Devils in the details. Pelley: you talk about balancing the budget without raising taxes. R: I am going to repeal Obama-care. I'm going to cut back on the size of the government itself. Programs to states: Medicaid, foot stamps. Cap the growth on social welfare programs. Pelley: why won't this throw us back into recession. Pelley: social security and medicare are 1/3 of federal budget. R: Medicare plan will stay the same. More means testing. People will have a choice of government run, fee for service, healthcare. Pelley: how would you change social security? Higher income folks would receive a little less.
Pelley: what is it specifically you are asking American people to sacrifice?
Steve Kroft interviews Barack Obama.
Pelley to R: what are the qualities of a leader? Having a vision, based on life experience. Pelley notes David McCullough states that great presidents learn.
Pelley: what's your big idea? R: freedom.
Kroft: what are the essential qualities of leadership? Obama: setting a course. I try to constantly present a vision of America where everybody's got a shot.
Kroft: David McCullough has noted great presidents have had a good understanding of history. Obama: persistence, being able to stay buoyant in the face of obtacles.
The first presidential debate is October 3 on CBS.