How can we grow our economy?

Start by simplifying our tax code

My Growth Code is a 5-point plan that will put America on a sustainable path of economic growth. I propose:

1. A simple, unified 15% rate on all business income, regardless of the type of entity;
2. Tax rates of 10%, 15% and 25% on individual income as currently defined under the Internal Revenue Code;
3. Immediate expensing of capital equipment;
4. Elimination of the abhorrent practice of double taxation;
5. Any household living in poverty will receive a family tax credit of $4,300.

What will the Growth Code mean for people, businesses and the economy?

Under the Growth Code:

• Small businesses will no longer be taxed as individuals. Instead they will be taxed as entities and pay no more than 15% on their revenue in taxes. All businesses will pay the same rate.
• Tax brackets will be lowered and dramatically simplified for individuals across the board, including the middle class.
• Profits made abroad will no longer be taxed when brought home for reinvestment. This will bring an surge of capital investment in America.
• Taxes on dividends, distributions and capital gains will be eliminated.
• Every American will pay taxes. Americans living in poverty will pay less.
• The mortgage deduction and charitable giving deduction will be protected.
• American companies will finally be able to compete on a level playing field against our biggest competitors, such as Japan, China and the largest economies in Europe.

Americans have always looked at our country as the “city upon a hill” from the time of the Puritans to John F. Kennedy to Ronald Reagan. The Growth Code is our way back to economic prosperity so we can all again see a brighter future where the American Dream is secure and thriving.

Thank you for reading. Please comment to let me know what you think.