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.
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