There’s nothing like April 15 to remind Americans that we’re overtaxed and underpaid, and President Obama and the Congressional Democrats are hard at work to make sure it stays that way.
Let’s change our tax code and get our economy prospering again with these concrete changes:
**We should start with abolishing the federal tax code, a disgraceful mix of needless complexity and perverse incentives, and start over. We need a new system for the 21st century that is simple, logical and fair. It should promote behavior that builds strong families, businesses, and communities.
**We should eliminate the seven different income taxes rates and have just one or two low rates that let people keep more of what they earn and reward saving and investing.
**Our corporate tax system is as dysfunctional as the individual income tax. U.S. corporate tax rates are the highest in the industrial world, so U.S. companies keep billions of dollars parked overseas. Repatriating foreign income at a 5 percent rate rather than the current 35 percent would bring that capital home to be invested in America.
**We should cut the corporate tax rate for domestic manufacturers from 35 percent to zero. Eliminating the corporate tax on manufacturers would give U.S. workers a level playing field in the international competition for jobs without the self-defeating drawbacks of protectionism.
**We should eliminate the marriage penalty from the tax code. Marriage is a critical factor in rising out of poverty, so we should also establish more tax benefits for married couples.
**Congress should double the tax credit for children from $3,000 to $6,000 per child. Doing so would put hardworking families back on a par, in terms of federal taxes, with their grandparents when they were having all those kids in the 1950s.
If you agree that Americans are overtaxed and underpaid, sign our petition here, and tell the President and Congress that enough is enough!