A Quote by Paul Ryan
Let`s lower our tax rates on our businesses so that we`re on par with the rest of the world so that we don`t keep losing our businesses.
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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.
Washington has got to, across the board, lower taxes for small businesses so that our mom and pops can reinvest and hire people, so that our businesses can thrive.
You got to remember, S corporations pay one layer of tax, corporations pay two layers of tax. So we basically see equivalent, but here`s the point. The rest of the world, they tax their businesses at an average rate in the industrialized world of 23 percent. Our corporate is 35. Our top S corporate, small business rate is 44.6 effectively. This is killing us.
We need to even out the tax code for small businesses so that we lower their tax rate to 25 percent, just as we need to lower it for all businesses.
The other thing that's really important in tax reform is making sure that we don't tax American businesses at much higher tax rates than our foreign competitors tax theirs. It is costing us jobs. It's one of the reasons all these American companies are moving overseas.
We also need to reduce corporate tax rates. This applies to small, medium and large businesses. At 35 percent, we have the second highest corporate rates in the world. It restricts the growth of small enterprises that need to plow capital back into their businesses and forces companies and jobs to move overseas.
We could make a difference just by holding our emissions steady as our businesses continue to grow. But that doesn't seem to be enough: we want to go all the way to zero... Today, I am announcing our intention to be carbon neutral, across all our businesses, by 2010.
Our broken tax code is one of the main reasons the United States lags behind when it comes to economic growth, job creation, and competitiveness. Without pro-growth tax reform, our workers and our businesses will continue to suffer.
I can only hope that one day soon we'll understand our true economic buying power by investing in our own communities and putting our money into businesses that keep our dollars in our community.
Obamacare is destroying our businesses, our small business and our big businesses.
Businesses and households react to lower rates by investing and spending more. Lower rates also support the prices of housing and financial assets such as stocks and bonds.
I truly enjoy hearing from our community about the issues that matter most. It's conversations like these that shape our community and drive my work to pursue common-sense solutions that protect our families, lower health care costs, uplift our veterans, and support our local businesses.
If you bring [tax] rates down, it makes it easier for small business to keep more of their capital and hire people. And for me, this is about jobs. I want to get America's economy going again. Fifty-four percent of America's workers work in businesses that are taxed as individuals. So when you bring those rates down, those small businesses are able to keep more money and hire more people.
Close loopholes, close the special interest Washington carve outs and that means more incomes subject to taxation so we`re going to lower the rates on our businesses and be fair.
Then by the springtime, you'll see us moving an effort to cut taxes for working families, small businesses and family farms to reform our business taxes in this country so that American businesses can compete more effectively with businesses around the world.
If you try to come into our state and force our businesses to collect a sales tax in manner that violates our laws or the United States Constitution, you will be in for the fight of your life.
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