Tax Reform

Tax Reform

"I, Jody Hice, pledge the taxpayers of the 10th district in the state of Georgia and the American people that I will one, oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses. And two, oppose any net reduction or elimination of reductions and credits unless matched dollar for dollar by further reducing tax rates.”

I signed that pledge because I mean it. Americans are already overtaxed, and we need tax relief. But what we really need is radical but common sense tax reform. We need to scrap the convoluted tax code that even the IRS itself cannot answer citizens’ questions about. The current system of federal income taxes is an outrage in so many dimensions.

High corporate income taxes - the second highest in the world puts us at a competitive disadvantage in the global economy. They militate against capital formation and kill job creation. High personal income tax rates destroy initiative and punish achievement. Let me ask you this. How can a family grow its savings and investments when the government is using the tax system to confiscate earnings? We can boost our productivity and grow our economy, and we can help American family budgets by abolishing all existing federal taxes and scrapping the IRS. In place of the current system, we need to adopt a national sales tax commonly referred to as the Fair Tax. Doing so will bring an economic boom without historical precedent. I do not support a sales tax on top of the current IRS system of income taxes. Finally, I do not support raising Social Security taxes nor do I favor creating a VAT or a value added tax.

Without economic liberty, there is no real political liberty. We must restore economic liberty to American businesses and individual Americans, so that we can remain free and renew our prosperity.