Taxes
Today’s tax code is overcomplicated. Congress may have written the tax codes but they certainly don’t understand it. Many times politicians raise taxes, not knowing the full impact that those increases have on jobs. Whether it is an income tax increase or a new fee hike, every dollar taken out of the economy and given to government is another dollar that is not going to create a private-sector job.
Scrapping the current code for one that is flatter and fairer would be ideal, but in the meantime, we can make certain changes to help America’s working families.
Reduce the marginal tax rate on individuals and small businesses.
Make overtime tax-free. Why should you pay more for working longer and harder? The government should stop punishing hard work. Once you have put in over 40 hours a week, the government should lay off what you earn.
Expand the per child tax credit from $1000 to $3000 per child. Anyone who has bought diapers, formula, or jeans or who has paid for a school computer or school tuition knows that the cost of raising children goes up and up. Our children are more worthy of our tax dollars than a distant bureaucratic office in Washington D.C.
Got a Better Idea on Taxes? Share it with Sean.
