A Quote by Steve Mnuchin
My No. 1 priority is growth in the economy. Tax reform will be our first and most important part of that.
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The reason we've been growing at 1.8 percent for the last eight, ten years, which is way below the historical average, is in large part because of our tax code. It is important to us to get the biggest, broadest tax reduction, tax cuts, tax reform that we can possibly get because it's the only way we get back to 3 percent growth. That's what's driving all of this, how do you get the American economy back on that historical growth rate of 3 percent and out of these doldrums of 1.8, 1.9 that we had of the previous Barack Obama administration?
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.
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.
We need to enact fundamental tax reform. The weight and complexity of our 73,000-page tax code are crushing everyday Americans. We need to radically simplify the tax code so that we can re-start the real engine of growth in our economy. That means our tax code needs to go from 73,000 pages down to about three pages.
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.
The key to revenue growth is tax reform that closes loopholes and that is pro-growth. Then with a growing economy, that's where your revenue growth comes in, not from higher taxes.
There'll be some savings from preventing double dipping by public servants which are currently able to access not one but two fully tax payer funded schemes and of course there will be out paid parental leave levy. So all up not only is this an important economic reform, an important reform to have to grow our economy more strongly, it also will leave the budget better off which will help us fix the mess that Labor has created with the budget.
Every tax cut I call for is targeted, it's responsible and it is paid for within my balanced budget plan. My tax cuts will not undermine our economy. They will speed economic growth.
A lack of reform - particularly in international tax - has hurt our ability to compete in a global economy by keeping U.S. corporate cash overseas and reducing domestic investment, slowing economic growth.
I've always believed that immigration reform is important, but it won't decide the White House in 2016. The most important issue for Hispanics - just like with all Americans - is the economy. If Republicans can do a better job of articulating positive, conservative policies to grow our economy, we will do better with Hispanics.
I think tax reform is the single most important thing we can do in this country to unleash economic energy. It's going to unleash growth.
Over the past two years, the House has passed more than 50 measures focused on stimulating the economy and expanding opportunities for American workers. The tax relief provisions in this package have been an important part of our pro-growth agenda.
This is again, one of our pieces of our 200-pay plan, part of our very ambitious agenda. We really don`t think we can get the kind of economic growth we could - we had the potential to get without tax reform.
When you look at the growth of the human economy and its expected growth in the twenty-first century, I expect health will be the most important market of all. Especially as we move from a concept of health which focuses on healing the sick to a concept of upgrading the healthy.
From 2008 to 2016 all the growth in the American economy, all the growth in national income, was earned just by the wealthiest 5% of the population. So they got all the growth. 95% of the population didn't grow. If you can get a flat tax or other lower tax, as Trump is suggesting, then this richest 5% will be able to keep even more money. That means that the 95% will be even poorer than they were before, relative to the very top.
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.
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