When the government cuts taxes all it's doing is letting people keep more of THEIR money.
When the government taxes and spends it is spending it on BIG PROGRAMS which are always filled with some corruption and waste - and delays.
THE BIG GOVERNMENT SPENDING LIBERALS LOVE MASQUERADES AS STIMULUS, BUT IT'S REALLY THE TRUE TRICKLE DOWN ECONOMICS.
Tax cuts - such as suggested by Newt - start IMMEDIATELY and there's no trrrrrrrrrickle down: everyone gets more money at once, to spend as they deem fit.
WITH GOP TAX CUTS, THE STIMULUS STEAMS UP.
AND THAT'S THE STEAM WHICH REALLY STOKES THE ENGINE OF GROWTH: TAX CUTS.
HERE'S NEWT'S PROGRAM:
1. Cut the Payroll Tax in Half for 2 Years.
Every single working American pays the payroll tax. In this economy, many people may not get a pay raise, but this would immediately give every working American a take home pay raise.
This would also immediately increase the liquidity of every small business, because there would be more money available to put back into the business and create more jobs.
So that Social Security and Medicare funds are not affected, we would pay for this proposal by redirecting all the TARP and $787 billion stimulus money that has been allocated but not yet spent.
2. Abolish Taxes on Capital Gains. If we want to compete with China and have the most productive factories in the world, the best jobs, and the highest take home pay, we should match China's capital gains rate of zero. This would dramatically increase investment in America.
3. Reduce the Corporate Tax Rate. When you combine state and federal taxes, America has the highest corporate tax structure in the world. We believe that by matching the Irish corporate tax rate of 12.5%, America would be the most desirable economy in the world to open a factory, create a new job, and develop a new product.
4. Abolish the Death Tax. If we want to be pro-work, pro-savings, and pro-family, we should not punish, but instead reward people who have worked, saved and created wealth all their life.
- UNLIKE OBAMA'S STIMULUS BOONDOGGLE, NEWT'S PLAN WILL WORK -
- AND IT'S IMMUNE FORM POLITICAL CORRUPTION BECAUSE THE POLITICIANS NEVER GET THEIR HANDS ON YOUR MONEY!