Issue Position: Economy
America faces challenges in the new global economy. We are competing with the rise of strong economic markets in Asia. In order to remain competitive, John Kennedy believes we must reform our tax system. We need a tax system that looks like someone designed it on purpose - one that encourages growth, fairness and protects the working class in Louisiana.
Our economy is moving in the wrong direction and raising taxes is not the answer. John has pledged to oppose any and all efforts to increase taxes. That's why he supports making the Bush Tax Cuts permanent. Allowing these tax cuts to expire in 2010 will result in massive increases for taxpayers across the board.
Another way to keep jobs at home and remain competitive is to lower the corporate tax rate. America has the second highest corporate tax rate in the world, putting companies in Louisiana and around the country at a disadvantage.
He also believes we must eliminate the Death Tax. It's simply unfair to tax people three separate times, once when they earn their money, second when then invest it and receive income off those investments and third when they die and leave it to their heirs or to charity.
Across America, families are required to live within a budget because they understand that you cannot spend more than you take in. Yet, Washington does not understand this basic idea. Washington is on a spending spree that's hurting our economy. It's time that we go back to the basics and balance the budget.
John Kennedy will restore fiscal responsibility in Washington. As Louisiana's State Treasurer, he stood up against powerful politicians and special interests to oppose government waste, fraud and abuse.
John will help end the wasteful practice of pork-barrel spending. Louisianans know the difference between government spending designed to help a politician - which is shameful and wasteful - and spending designed to help hurting people.
Deficit spending is affecting the economy as well. John supports a balanced budget amendment to the Constitution. Just like American families, Congress must learn to live within its means.