To get America’s economy moving again, we must return to the supply side, strong dollar policies that have worked in the past.
America’s economic woes are not due to the excesses of capitalism, as the left claims, but instead due to abandoning supply-side, strong dollar policies for easy credit, deficit spending, and stimulus. We need a new economic policy to promote a robust economic recovery and a new, long-term economic boom. This requires a sweeping replacement of current policies.
America has the second highest business taxes in the industrialized world. We should cut the corporate tax rate to 12.5% to match Ireland and match China on investment by eliminating the capital gains tax completely. We should also cut payroll taxes by 50% for both the employer and employee and provide a 100% tax write-off for new equipment. Eliminating the death tax would be both morally correct and a boon to economic growth. So too would an “all of the above” energy policy that took advantage of America’s vast energy reserves as well as invested in new forms of energy. We must also fight efforts to impose an energy tax (cap and trade) on America and work to repeal the high tax, big bureaucracy health bill that is punishing businesses.