Lower Corporate Tax
United States has the second highest corporate tax rate in the industrialized world. This needs to change. In order for multi-national corporations to bring back some of their money to our country, we must be competitive with the rest of the world and thus we must lower this rate. At the same time, we need to re-examine the legal loopholes placed in the tax code and eliminate those no longer valuable. We must also eliminate most pork-barrell subsidies that amount to nothing more than corporate-welfare. In-turn, this action would effectively increase the amount of corporate taxes paid by multinational corporations.
Corporate tax rates need to be reduced in order to encourage start-ups, attract investment, and retain jobs in America. It's imperative that we kick-start our economy by encouraging entrepreneurial activity and a degree of risk-taking. That is what America is all about. Our country must also remain a leader in the clean energy revolution, as this will not only save our planet, but from a practical perspective it will create jobs and foster economic growth. Accordingly, my proposed package of tax reforms will reduce the tax and regulatory burden on small businesses while incentivizing them to use and develop clean energy solutions.
Under my tax proposals, large corporations will be required to pay their fair share and incentivized to create jobs rather than enjoy tax breaks for leaving the country. Specifically, I will zealously advocate new rules which prevent large corporations from avoiding U.S. taxes indefinitely by stashing their money offshore. I will also cooperate with all interested parties to repeal Treasury regulations that facilitate so-called "inversions" and other M&A structures which incentivize American corporations to shift their operations overseas.
By making these changes and other sensible modifications to the tax code we can balance our budget, reduce the middle-class tax burden, and boost our economy. As your congressman I will work tirelessly with like-minded people to reform the tax code and advocate smart fiscal policies. In doing so we can take America's economy to the next level and solidify our position as a clean technology leader.
My proposed tax reforms will free up revenue so that America can start investing in our future. Although it will be a challenge, it's entirely possible to have a balanced budget while ensuring there are enough funds for health care, higher education, and Social Security.
Tax reform won't be easy, but it's a challenge we can overcome by working together. Today there is a growing consensus on the pressing need to reform our tax code, and we must take advantage of this opportunity. As your congressman, I will doing everything it takes to make sure our government takes a comprehensive approach to kick-start our economy, including tax reforms designed to reduce the middle class tax burden, promote job growth, and incentivize entrepreneurs.
During the G.W. Bush Presidency years, we were involved in two unfunded wars in the Middle East. Congress, along with the President, created an unfunded Medicare Part-D program which speeds up the bankruptcy of the Medicare program. On top of all this fiscal irresponsibility, we lowered income taxes for the very wealthy and encouraged irresponsible sub-prime loans to be approved at an alarming rate. It is insane not to think that all this would eventually come down crashing around us. And, now, here we are right in the middle of all this mess.
My opponent, Mimi Walters, has been a US Congresswoman and California Senator and Assemblywoman for over a decade right in the middle of all this mess and she is part of the reason we are in this mess. Walters supported YES on making the Bush tax cuts permanent (Bill sponsored by Lewis, R-KY; Bill HR 586). Walters supported YES on $99 B economic stimulus (Bill HR 3090). Walters has signed the Americans for Tax Reform "Taxpayer Protection Pledge" which protects the wealthiest of our citizens. She is not for a responsible government. She is out to bankrupt WE the People’s government.
President Ronald Reagan did lower taxes once, but he also increased taxes 11 times during his Presidency when he knew it was necessary during a recession. I agree that cuts must be made in programs no longer needed or needed less. However, some revenue increase is also in order here and Walters is being absolutely inflexible and uncompromising. As your congressman, I would be open to new ideas and willing to compromise whenever the needs of my district outweigh unnecessary gridlock. Once again, she is not working for WE the People. Instead, she is working for her Wall Street and Billionaire Class campaign contributors. See which industries are Walters' largest contributors here!
Walters’ Voting/Support Record:
- YES on making the Bush tax cuts permanent (Bill sponsored by Lewis, R-KY; Bill HR 586)
- YES on $99 B economic stimulus (Bill HR 3090)
- Signed the Americans for Tax Reform "Taxpayer Protection Pledge" which protects the wealthiest of our citizens
- NOT standing up for WE the People
Varasteh’s Congressional Pledge:
- NO income tax for everyone making $120K or less, until our economy is stabilized
- Offset this revenue loss by imposing a marginal tax rate for those making more than $1.2M
- At the same time we must reform tax loophole laws
- Balance the budget and reduce the deficit, each and every year, once our economy stabilizes
- Lower Corporate tax rates in order to be more competitive with the rest of the world
- Standing up for WE the People
- Not for sale