A Quote by Paul Ryan
Here's the problem if you keep raising tax rates: You slow down economic growth.
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If Republicans are correct that lower rates spur economic growth, then lower rates on all income - made possible in part by raising capital-gains rates - should bolster economic growth across the economy.
Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now.
I can't imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a recipe for economic growth.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
Donald Trump wants to dramatically reduce America's corporate tax rate (to 15%) and thereby unleash economic growth. Hillary Clinton hasn't said a word about lowering corporate tax rates. Being a Fedzillacrat, you don't need to be an economic soothsayer to know that she supports taxing the producers and further strangling America's anemic economy.
Well, certainly the Democrats have been arguing to raise the capital gains tax on all Americans. Obama says he wants to do that. That would slow down economic growth. It's not necessarily helpful to the economy. Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged.
Economic growth, profitability, prosperity, jobs, increased jobs, increased wages, they're able to get that tax rate down to 15% and we're gonna call it tax relief, not tax breaks, not tax loopholes. It's important to control and reclaim the language here.
It's impossible for China to keep 10 to 15% growth annually. The economy needed to slow down, and we have to learn to slow down.
Tax increases slow economic growth. Why would you raise taxes? We need to reform spending, the tens of trillions of unfunded liabilities can never be funded by tax increases, that can only be fixed by reducing spending.
We know taxes slow down economic growth, so if you add a carbon tax you have to also minus other taxes. You can't take more money out of people's pockets. I don't think you can build a consensus in this country about environmental policy if you're going to make people poor.
I'm for eliminating deductions and taking some of the money to buy down rates and put it on the debt. That's not raising taxes. That's solving a problem.
We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.
The growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.
America's tax code is beyond repair. Tinkering with it won't work. The only hope is a bold tax-reform plan that will liberate our nation from the slow-growth status quo and jump-start a new era of American prosperity and growth.
High tax rates distort economic decision making, and our corporate income tax rate is one of the highest in the world.
Our economy continues to struggle with slow economic growth, high unemployment and stagnant wages. "Obama care's" raising costs. That's making it harder for small businesses to hire. In short, it's a train wreck.
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