Final answer:
Newt Gingrich's Contract with America was based on the premise of reducing the size of government, fiscal responsibility, and conservative values, which included tax cuts and welfare reform.
Step-by-step explanation:
The elements in Newt Gingrich's Contract with America, such as tax cuts and welfare reform, were based on the premise of reducing the size of government, fiscal responsibility, and conservative values. The contract aimed to shrink the federal government, decrease government spending, and promote individual responsibility. For example, the tax cuts were intended to stimulate economic growth by allowing individuals and businesses to keep more of their income, while the welfare reform sought to address concerns about entitlement programs and encourage self-sufficiency.