The Conservatives will have a serious plan that is not a tax on families and businesses, that will get our emissions down by partnering, by being strategic and and taking it seriously, but not through just a tax mechanism.
In general, anyone who paid the long distance telephone tax will get the refund on their 2006 federal income tax return. This includes individuals, businesses and non-profit organizations.
Additionally, this tax forces family businesses to invest in Uncle Sam rather than the economy. When families are forced to repurchase businesses because of the death tax, that means less money is being invested in new jobs and capital expansion.
Simplifying the tax code and reducing administrative burdens will save small businesses money and time and let owners and employees focus less on paperwork and more on how to operate in this tough economy.
Let's abolish the IRS, let's eliminate income tax, let's eliminate corporate tax, let's balance the federal budget, and if we need a tax, it can be one federal consumption tax.
Tax reform for the 21st century means rewarding hardworking families by closing unfair loopholes, lowering tax rates across the board, and simplifying the tax code dramatically. It demands reducing the tax burden on American businesses of all sizes so they can keep more of their income to invest in our communities.
I am going to eliminate every unnecessary job-killing regulation. They're choking our businesses to death.
My constituents in Kansas know the death tax is a duplicative tax on small businesses and family farms that, in many cases, families have spent generations building.
Most of them benefit businesses, things like research and development tax credits. But people will also benefit, too, from things like - the earned income tax credit and the child tax credit have been made permanent. They predominantly help lower-income families.
My tax plan will cut taxes for 95 percent of workers, because we need to put money back into the pockets of struggling middle-class families and close the egregious tax loopholes that have exploded over the last eight years. My plan eliminates capital gains taxes entirely for the small businesses and start-ups that are the backbone of our economy, as opposed to John McCain's plan, which would tax these businesses. John McCain is running to serve out a third Bush term. But the truth is, when it comes to taxes, that's not being fair to George Bush.
Basically the tax reform ideas are to clean up the tax system and to eliminate the loopholes that only very few make use of, to eliminate the possibility of people making millions of dollars every year and not paying any tax at all through oil depletion allowances and things like that.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.
And it would be fair. Everyone will pay the same tax and it will eliminate tax cheaters and corporate shenanigans.
If I could wave a magic wand, we would eliminate income tax; we would eliminate corporate tax. We would abolish the IRS, and we could replace all of it with one federal consumption tax.
Finally, the House is working to require a comprehensive federal review of IRS regulations with a follow-up report to Congress on possible actions to reduce the tax paperwork burden imposed on small businesses.
And what's interesting, and I don't think a lot of Americans understand this fact, is that, one, most new jobs are created by small businesses; two, most small businesses pay tax at the individual income tax, or many small businesses pay tax there.