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Economy

The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.

Milton Friedman

Principles

People in Indiana's 5th District are struggling as the economy slumps.  Many have lost significant value in their 401k's, others have lost jobs and small businesspeople are struggling to meet payroll.

Almost nothing is more important to families than good jobs and a strong economy.  My top priority in 2009 has been working with other members of Congress and our new President to get the economy moving again.


Dan's View

I know that we have to get our economy moving again.  We must do this by staying true to free market principles, releasing on the ingenuity and work ethic of the American people instead of relying on massive new government spending, bailouts and aid.

I support:

  • Keeping taxes low for struggling Americans in this tough time.
  • Cutting the capital gains tax and small business taxes
  • Asking government to cut back on spending before asking the American people to do it.
  • The Republican Budget Alternative – read about the plan here: http://www.gop.gov/policy-news/09/04/01/fiscal-responsibility-republicans-on-the
  • The Savings Recovery Act, which will help Americans protect and rebuild their savings: http://gopleader.gov/savings/
  • The responsible Republican Stimulus Plan that will create 6 million jobs. See the plan below:

Immediate Tax Relief for Working Families:
Rather than a refundable credit based on payroll taxes, House Republicans propose reducing the lowest individual tax rates from 15% to 10% and from 10% to 5%. As a result every taxpaying-family in America will see an immediate increase in their income with an average benefit of $500 in tax relief from the drop in the 10% bracket and $1,200 for the drop in the 15% bracket. A married couple filing jointly could save up to $3,200 a year in taxes.
Help for America’s Small Businesses:
Small businesses (those employing less than 500 individuals) employ about half of all Americans, yet they can be subject to tax rates that siphon away one-third or more of their income. House Republicans propose to allow small business to take a tax deduction equal to 20% of their income. This will immediately free up funds for small businesses to retain and hire new employees.
No Tax Increases to Pay for Spending:
The stimulus proposal pending in Congress includes record levels of government spending that will substantially increase the current deficit. House Republicans are concerned that this level of spending will result in some proposing near-term tax increases on American families. House Republicans are insisting that any stimulus package include a provision precluding any tax increases now or in the future to pay for this new spending. House Republicans believe that any stimulus spending should be paid for by reducing other government spending, not raising taxes.
Assistance for the Unemployed:
Incredibly, the Federal Government actually imposes income taxes on an individual receiving unemployment benefits. House Republicans propose to make unemployment benefits tax free so that those individuals between jobs can focus on providing for their families. The plan would also extend unemployment benefits from March to December, 2009.
Stabilizing Home Values:
The real-estate market is paralyzed as potential buyers wait on the sidelines waiting for prices to fall even further. This is becoming a self-fulfilling prophecy. In order to encourage responsible buyers to enter the market and stabilize prices, House Republicans propose a home-buyers credit of $7,500 for those buyers who can make a minimum down-payment of 5%.

I oppose:

  • I voted against the $700 billion TARP bailout program.
  • I voted against the $787 billion Democrat “stimulus” plan because the massive debt will cause hyperinflation and the plan is susceptible to waste, fraud and abuse
  • I voted against President Obama’s $3.7 trillion budget for 2010 because it raises taxes and redistributes income.
  • I will fight against the Democrat’s “Light Switch Tax” bill (they call it “Cap and Trade”) that will raise utility bills by up to $3,900 for a family of four.
  • Further expansion of the federal government under the pretense of helping our economy.
  • Tax increases on small businesses supported by Democrats in Congress and President Barack Obama.

Resources

 

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