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Taxes

No New Tax Pledge

I believe your money is your money, and it is far better in your hands than it is in the hands of the government.  That’s why I have taken the No New Tax Pledge. 

Taxes should be low and broad based.  Our tax code shouldn’t pick winners and losers, and it shouldn’t punish success. 

The current IRS Code is thousands of pages.  Americans spend at least 7 billion hours and more than $200 billion complying with the current tax code.  The waste and lost productivity is immense.  In Congress, I’ll support rewriting the current federal tax code to make it simpler, fairer, and supportive of making America the best place in the world to do business.

We must be careful reworking it because we don’t want career politicians and special interests rewriting the tax code to their benefit while American families are forced to pay more.

What I Will Do in Congress

If elected to Congress, I will work to:
• Eliminate the capital gains tax for three years on all start-up companies.

• Keep current income tax rates in place or lower until unemployment is reduced to 5% nationally.  To be clear, I am opposed to all tax increases and will not vote to raise taxes in Congress, regardless of the unemployment rate.  Congress pledging no income tax increases until unemployment reaches 5 percent would greatly reduce uncertainty and encourage investment crucial to job creation.

• Permanently eliminate the Death Tax.

• Preserve the 2001 tax cuts.

• Suspend the Federal unemployment tax until unemployment is reduced to 5% nationally.

• Cut the payroll tax by half for small businesses until unemployment is reduced to 5% nationally.