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Public Statements

Issue Position: Taxation/Regulations

Issue Position

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Taxation/Regulations
"A government which robs Peter to pay Paul can always depend on the support of Paul."
George Bernard Shaw

"Every line in the tax code was placed there by some special interest group."
Warren Buffett

All taxpayers are overburdened. We work almost half the year just for taxes. This gives more money to feed Washington's bureaucracy. The U.S. corporate tax is twice the world average. It is no wonder that corporations keep their cash out of the country. Excessive corporate taxation destroys jobs, entrepreneurship, and innovation. First and foremost, any tax reform should not raise current rates, but close loopholes that reward the cleverness of accountants.

The federal regulations have gotten out of hand. The annual cost of federal regulations in the United States increased to more than $1.75 trillion in 2008. This is over $8,000 per employee. Excessive regulations discourage new business and drive small businesses out of the marketplace. Some of the new financial rules make it harder for small businesses to get loans. The problem is that agency bureaucrats who have no accountability to the public write these rules. I believe this is subverting the legislative intent; if an agency passes greater than $100 million in new regulations, Congress should review and vote on them.


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