Issue Position: Taxes

Issue Position

Restoring a strong American economy

The American people deserve a fair, simple and competitive tax code, and the American taxpayer deserves transparency and accountability in how their hard-earned tax dollars are spent.

At over 72,500 pages, our tax code has become a broken maze of complexity, bureaucracy and political favoritism, and it has to be fixed. We need a tax code that is simple and fair for all individuals, families and businesses. We need a tax code that spurs job creation and economic opportunity by lowering rates, closing loopholes, and putting hardworking taxpayers ahead of special interests.

The federal corporate tax rate is 35 percent, which is very high--compared to other industrialized nations. If we add state and local taxes, the corporate tax rates can climb up to 39.2 percent -- the second highest tax rate among developed countries. On top of sending almost 40 cents out of every dollar earned to the government, businesses pay additional taxes including investment taxes and payroll taxes. If we are going to get America working again, America has to be a great place to do business.

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