Jobs and the Economy

Jobs and the Economy

Jobs and the Economy – Our economy is being strangled by a punitive tax code, senseless government rules and regulations, and a failed government-run healthcare system. Small business-people, farmers, and major job creators cannot cope with all these burdensome taxes and red tape. We must revive America’s can-do, entrepreneurial spirit.

Congress must:

  • Repeal archaic IRS tax code and replace with true flat tax to promote economic prosperity.
  • Curb power of federal agencies to impose rules and regulations. Require cost/benefit analysis.
  • Repeal Obamacare and its costly mandates.
  • Restore a free-market, competitive, affordable healthcare system.
  • Reform the immigration system to benefit the American worker.
  • End bad trade deals like NAFTA and the TPP that are decimating manufacturing jobs in the 5th District and are favoring foreign interests. Pro-American immigration reform, trade reform, and regulatory reform will help return blue collar jobs to the 5th District.
  • Expand “high-tech” jobs in 5th District using existing core infrastructure such as University of Virginia, Northrup-Grumman, National Defense Institute. Each high-tech job generates additional jobs in construction, electrical, plumbing, HVAC, retail, food industry, and real estate.

Our economy has been strangled by an administrative state that has grown ever more expansive. It hangs like a black cloud over the economy, preventing businesses from hiring and keeping thousands of dollars out of the pockets of hard working Americans. Including state, local, and federal levies, most Americans pay an effective tax rate of over 35%. Our high tax rates reduce citizen’s discretionary income, which creates a drag on economic growth. We are told that we are in the midst of a recovery but the economy is growing at a lackluster 2%. 94 million Americans are out of the work force, and therefore the true unemployment rate is closer to 20%, a disaster fiscally and economically as well as socially. This is not an economic recovery. This is not prosperity.

We need pro-growth tax reform. I support a true flat tax. A true flat tax eliminates the crony deductions and tax credits that keep K Street in business. A true flat tax eliminates double taxation, whether that be capital gains, business income, or dividends. Income should only be taxed once thus necessitating the need to eliminate the corporate tax. A flat tax will restore economic prosperity to the country and to the citizens of the 5th District.

— Michael Del Rosso