More than $13 trillion in debt, a President who tells West Point cadets we need a new "international order" and an FDA that wants to prevent salt from being added to our food – all point to a federal government that is out of control.
We simply cannot continue "business as usual". Washington insiders are sorely lacking in the commitment – and the business savvy – to tackle the issues crippling our country. They desperately need someone ready to roll up their sleeves and actually work on fundamental course corrections, not just talk about what’s wrong.
I am the candidate with the experience and the plan to hit these issues head on. In the coming weeks, our campaign will roll out a detailed plan to "Stop the Insanity" in Washington DC.
First, we must stop redistributing wealth. We need a tax system that is fair and taxes our citizenry at the lowest amount possible. Our present system puts an unnecessary burden on those of us who pay taxes. It stifles our economy by taking too much money out of our pockets and putting it in the hands of an irresponsible Congress and unelected bureaucrats to spend it as they, not we the taxpayers, see fit.
We must repeal the current tax system and replace it with an entirely new system. Ideally, we need to stop taxing savings, earnings and investment, and instead adopt the Fair Tax, a proposed national sales tax, or the Flat Tax. Either tax is preferable to our current system. The Fair Tax would have to be coupled with repeal of the 16th Amendment, so we do not end up with both an income tax and a sales tax.
We must repeal the Corporate Tax. The corporate tax produces less than five percent of federal revenue, while discouraging job creation and business investment. Because it is one of the most burdensome in the developed world, it encourages a flight of capital out of the United States. We need to repeal it immediately to stimulate growth in our economy.
We must extend the Bush Tax Cuts of 2001 and 2003. All the Bush Tax Cuts will expire on January 1, meaning higher taxes on parents with children, joint filers, small business owners and almost all wage earners. Cutting taxes is the only way we can foster the creative entrepreneurship that will help us grow out of the present fiscal crisis. Recently, I signed a pledge to repeal the death tax. That is just one small example of the change we must make.
We are announcing a new feature on the website – the "DC Insanity of the Day". While many examples are somewhat humorous, the underlying message is very serious. DC is out of control – and very out of touch.
Today’s example is:
Mohair Subsidies – $1 million/year
Federal subsidies for mohair were first allocated in 1947. The National Wool Act of 1954 established direct payments for wool and mohair producers. The purpose of the program was to encourage production of wool because it was considered an "essential and strategic commodity", used primarily for military uniforms. However, no similar purpose was stated for the mohair program. Tagged onto the wool subsidy program, it has continued since then, with a brief respite in the mid 90s. While this program was phased out in 1995, ad hoc payments were provided in 1999 and 2000 and the program was reinstated in 2002.
Message from Tim Bridgewater, Candidate for U.S. Senate
May 26, 2010