A competitive federal tax policy must be preserved and improved. The double taxation of capital funds through capital gains and dividends should be lowered. The 15% capital gains and dividend rates should be lowered, as these types of rate cuts adopted in 1997 and 2003 both resulted in more tax revenue being collected by the federal government.
Reducing the income tax brackets, including the top rate of 35%, would also have an immediate benefit to the national economy.
In addition, the federal corporate tax rate of 35% is second highest in the developed world, behind only Japan's. As corporate taxes have declined across the globe in the past decade, it is long past time for the US to lower our own corporate tax rate.