Rep. Phil Roe (R-Tenn.) : "Keep Taxes Low and Rein In Government Spending"Submitted by emalvini on Wed, 04/11/2012 - 13:36
Rep. Phil Roe (R-Tenn.) : "Keep Taxes Low and Rein In Government Spending"
04/11/12 12:42 PM ET
As we approach the tax filing deadline on April 17, we see how much the government and taxation have grown in America. There is no question we need to lower taxes for all hardworking Americans, from our job creators to our friends and neighbors who have fallen on hard times. Excessive regulation and taxes are a deterrent to business expansion and income.
The president’s solution to economic recovery is the opposite. In his budget he is proposing $1.5 trillion in new taxes. His plan would raise tax rates across the board on small business owners and entrepreneurs. Job growth will be stifled if the government is acting as a roadblock to the job creators.
One example of the crushing new tax burden that the Obama Administration is trying to implement is the president’s health care law. The nonpartisan Congressional Budget Office has warned that the IRS will need up to $10 billion to implement the law over the next decade. Recent reports indicate that the administration is shifting half a billion dollars to the IRS already to implement the health care law. This expansion of the IRS’ power and reach into hardworking taxpayers’ daily lives has hit a new high and will now include a verification system that you have acceptable health care coverage, penalizing you if you don’t and increasing audits.
We need to put a stop to the government’s reach through the broken tax system. In “The Path to Prosperity”, House Republicans spur economic growth with bold tax reform, this would eliminate complexity for individuals and families and would boost competitiveness for American job creators. For example, it simplifies the tax code by consolidating the current six individual income tax brackets into just two brackets of 10 percent and 25 percent. Additionally, the budget reduces the corporate tax rate of 35 percent, which will soon be the highest rate in the developed world, to a much more competitive 25 percent. This budget also rejects raising taxes on hard working Americans.