Wage growth has flattened over the past four decades. This cannot continue. This tax cut will ensure American workers keep more of their hard-earned money. The question for Congress is simple: Do you believe American workers deserve a raise?
High-tax policies have failed, but we reject the cynicism that says this is the “new normal.” A healthy American economy grows at roughly 3.5%, but since 2007, it has hardly topped 2%. Tax relief is a major part of the President’s plan to return to over 3% growth. Over the next 10 years, 3% growth instead of 2% will yield: a nominal gross domestic product that is $16 trillion larger, Federal government revenues $2.9 trillion, greater wages and salaries for American workers. The President’s policies will cause trillions in new dollars and wealth to come pouring into our country.
The business tax rate is the highest in the developed world–we are dead last. The rate is 16.4 percentage points higher than the worldwide average. By slashing America’s business tax rate, once again America will be the most desirable country for business formation and growth. America will be the great jobs magnet of the world.