It’s Time for Real Tax Reform
It was 241 years ago when American colonists took part in what is now known as the Boston Tea Party, which lead to the signing of the Declaration of Independence and the beginning of our nation’s democracy. Unfair taxation and an overbearing government inspired these patriots to embark on the ultimate challenge of establishing a representational government built upon the basic principles of freedom and liberty for all.
More than two centuries have passed since the Boston Tea Party, yet the struggle against big government and an unfair and overly complex tax code persists. Since President Obama took office, he has signed 22 new tax increases into law. The largest tax increase being Obamacare, which created over $800 billion in new taxes – many of which will fall on the middle class.
Local businesses are also feeling the pinch of higher taxes. A June study by Small Business Economic Trends revealed that 25 percent of small-business owners cite high taxes as the single biggest obstacle to growing their businesses and hiring employees.
At 39.1 percent, the United States has the highest corporate tax rate in the world. In a global marketplace, American businesses cannot compete when they are taxed at a rate that is 10 percent higher than the world average. Washingtonians know better than anyone else about competing in a global marketplace, as 40 percent of jobs in our state rely on international trade.
In order to spur economic growth, I believe we must allow hardworking Americans and job creators to keep more of their hard-earned money. Americans know how to spend their money far better than the federal government. Simplifying the federal tax code, closing loopholes, lowering taxes on families, farmers, and small businesses, cutting spending, and implementing fair trade policies will get our economy moving again.
Our nation needs real jobs, real solutions, and real results. What President Reagan once said is as true today as it was then: “In this present crisis, government is not the solution to our problem; government is the problem.” We need a more efficient, effective, government that spends less of our taxpayers’ hard-earned dollars.
The looming threat of tax increases and uncertainty continues to stall economic growth. As we celebrate the founding of our great country, tax reform measures must be considered in order to bring certainty to American families and job creators and protect hardworking taxpayers from looming increases.