Taxes
Taxpayer Protection Pledge Pledge to repeal Federal Estate Tax
Democrats on Capitol Hill continue to respond to our country’s fiscal problems by proposing to raise taxes with ultimately no spending cuts in return. What they refuse to do is to implement more fair tax policies and reduce government spending that has been growing every year. Currently, only half of Americans are paying any income taxes while at the same time millions of people are relying on entitlement programs not as a safety net, but as a way of living. Instead of addressing this unsustainable and unfair situation, liberal legislators want to continue spending and come to hard-working tax-payers for more tax revenue.
Increasing taxes during a recession (yes, the recession is not over yet) is the wrong approach and higher taxes are not the solution - but this is a source for more problems that will only continue to hurt our economy. Excessive taxation drains our economy. Higher taxes take money away from where it belongs - in the hands of those who earned it - and instead put it in the hands of the government that doesn’t know how to use it productively.
In a free enterprise economy, money belongs to the people who earn it. Our government has a hard time understanding the concept that wealth doesn't just happen but has to be created by productive enterprises. The people who make it have a right to keep it. Of course, earning individuals do have an obligation to give a portion of their income to pay for needed public services, national security and the judicial system. But our government can’t have an unlimited claim to our money.
Private individuals and businesses use money more efficiently than governments. People with their own money at risk spend or invest it carefully. It is a well known fact that there is always a lot of waste at every level government. In the current economy, we don’t need more waste – we need more economic growth and job creation.
Lowering taxes is the best way to stop the expansion of government and jumpstart the economy. Lowering tax rates for individuals and businesses will actually increase the overall tax revenue for the country and, coupled with reduced spending, will help our country to solve its fiscal crisis and reduce the unsustainable national debt.
As a U.S. Senator, I will support a tax reform that will reduce and flatten the effective individual and corporate tax rate and distribute the tax burden fairly among all contributors.
As a part of my job creation platform, I believe that the federal government should create more incentives for businesses to grow and create jobs by lowering their tax burden. Businesses should be able to use their funds for growth. Business expansion translates into more job creation and economic growth and this is what our country needs the most.
