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Ro Khanna on Tax Reform |
Just look at our antiquated tax code--it was written for a 1960s economy and is failing us today. It incentivizes companies to locate overseas while giving oil companies tax breaks and subsidies. At the same time, an impossibly complex bureaucracy has piled on burdensome and duplicative regulations that have stacked the deck against small businesses and entrepreneurs.
Our country needs bold leadership to ensure America maintains its position as the most productive and innovative nation on earth. My comprehensive economic agenda will increase our manufacturing and exporting capacity, and reward entrepreneurs who take risks and keep our economy dynamic--all while strengthening our middle class.
As a member of Congress, I will push for comprehensive tax reform to curtail ballooning inequality and make tax credit compliance easier for working families and small businesses. The growth of special deductions, exclusions, and tax breaks for the wealthy increase the time and resources individuals must spend on calculations and documentation requirements to pay their taxes.
Congress also needs to reform the Alternative Minimum Tax (AMT) to protect middle class taxpayers. What we have right now is an antiquated tax regime that is unfair, hurts our competitiveness, and has been manipulated repeatedly by narrow special interests.
The Project Vote Smart Voter Guide inferred how candidates would respond to the question, 'Budget: In order to balance the budget, do you support an income tax increase on any tax bracket?' Project Vote Smart notes, "in response to the increasing unwillingness of candidates to answer issue questions, Project Vote Smart has researched Congressional candidates' public records to determine candidates' likely responses on certain key issues. These issue positions, from the year 2016, are provided [for candidates who] refused to provide voters with positions on key issues covered by the 2016 Political Courage Test, despite repeated requests. Historically, candidates have failed to complete our test due to the advice they receive from their parties and advisors and out of fear of negative attack ads."
The Project Vote Smart Voter Guide inferred how candidates would respond to the question, 'Economy: Do you support lowering taxes as a means of promoting economic growth?' Project Vote Smart notes, "in response to the increasing unwillingness of candidates to answer issue questions, Project Vote Smart has researched Congressional candidates' public records to determine candidates' likely responses on certain key issues. These issue positions, from the year 2016, are provided [for candidates who] refused to provide voters with positions on key issues covered by the 2016 Political Courage Test, despite repeated requests. Historically, candidates have failed to complete our test due to the advice they receive from their parties and advisors and out of fear of negative attack ads."