Our tax code and our tax rate have created an incredible burden on families and businesses. The tax code has also become a vehicle for taking money from one group and giving it to another in the name of "job creation." That is not job creation; that is redistribution of wealth. A tax code that is more than 70,000 pages long (nine times longer than the Bible) is not about revenue, it is about special interests and hidden exemptions. With so many exceptions, exemptions and updates, no American has any confidence that their tax return is completely correct. It is time to simplify and flatten the code.
Our problem is not tax rates, it is wasteful spending. We should not increase tax rates, we should eliminate the wasteful spending in government. We should also create more tax payers, not more taxes. Millions of people pay no tax because they live in poverty. Our nation should promote economic growth so more people can move out of poverty and into work. Contrary to the populist belief, it is not wrong to make a profit and take care of your family. In fact, our code should respect, not punish, people who work hard, play by the rules and make a good living.
We also should not tax people when they die and take money from their family. That is immoral. We must eliminate the death tax.
Our nation’s corporate tax rates are some of the highest in the world. We currently charge our country’s wealth builders and employers significant tax penalties, more than any other nation on earth, to bring their profits back to the U.S. from overseas. The unfortunate result of these liberal policies is that over $1 Trillion dollars in profits is now locked out of the U.S. market and American businesses are left open to takeovers by foreign firms. This is anti-American and during my time in the Senate I will work however long it takes to bring fairness, balance, equity and freedom to our economy because the current cost to doing business is much too high and currently destructive to our economy.
America did not become great by redistribution of wealth, America became great because there was an equal opportunity for any person to work hard and be a success. It is time to return to that belief.