I am the only candidate in this race who has put forth a specific plan to balance the Federal Budget. My budget would eliminate the budget deficit by the year 2017 and retire the entire national debt by 2033 without raising taxes. My budget would eliminate 50 years of financial negligence in Washington. I believe it is our moral obligation to ensure our children inherit a country in better condition than we found it.
If given the opportunity, I will support and vote for the Fair Tax. However, it is highly unlikely that it could be passed, so I have put forth a McCormick Simple Tax plan that can win bipartisan support. One of my top priorities in Washington is to eliminate the complex, burdensome tax code that stifling small business innovation.
I have personally prepared thousands and thousands of chapter 13 budgets in my law practice. They all have one thing in common: they spend less than they take in. These budgets are scrutinized by the government and any excess is taken. Washington has a different standard and value system than middle class America and it is unacceptable that Washington has failed to learn this simple principle that is the basis of sustainable budgeting.
Specifically, I propose:
Instead of auditing taxpayers, 25% of IRS agents need to be auditing the Federal Government. I believe that would serve the American taxpayer far better than enforcing a tax code no one understands.
Simplify the tax code. I will vote for the Fair Tax but if that cannot be passed, I believe the McCormick tax plan is the best alternative.
Freeze all government hiring and pay raises until the budget is balanced.
Allow Americans to opt-out of Medicare, and raise eligibility age by 1.5 years for those born after 1965.
Raise the Social Security eligibility age by 1.5 years for those born after 1965. Decrease disability claims.
Convert Medicaid into a block grant to the states.
Modernize the accounting and auditing system to save a minimum of $100 billion annually in waste and fraud.