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Joe Arwood on Tax Reform
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Tax code is too complicated & too burdensome
I will work across party lines to advance reforms to the current tax code that is too complicated, too burdensome and puts American-made products at a competitive disadvantage to foreign competitors. For individuals, I propose a flatter, simpler system
for taxpayers to pay their income taxes. You would be able to choose to pay your taxes using the current code--with all of its deductions, credits, and so on--or under the simplified tax option with just two low rates and with a tax form that would fit
on a 3X5 index card. I believe that we should not double and triple-tax Americans. I will seek to eliminate the death tax, the Alternative Minimum Tax, and taxes on savings. Additionally, I will forward a bill immediately to suspend the 10% penalty for
early withdrawals from 401K's and qualifying pension plans. This will allow people the freedom to self direct those funds and utilize them to pay down mortgages in an effort to save their houses, credit cards, or expand their small business.
Source: 2012 Senate campaign website, joearwoodforussenate.com
, Jan 18, 2012
Adopt a single-rate tax system.
Arwood signed the Contract From America
The Contract from America, clause 4. Enact Fundamental Tax Reform:
Adopt a simple and fair single-rate tax system by scrapping the internal revenue code and replacing it with one that is no longer than 4,543 words--the length of the original Constitution.
Source: The Contract From America 10-CFA04 on Jul 8, 2010
Repeal tax hikes in capital gains and death taxes.
Arwood signed the Contract From America
The Contract from America, clause 10. Stop the Tax Hikes:
Permanently repeal all tax hikes, including those to the income, capital gains, and death taxes, currently scheduled to begin in 2011.
Source: The Contract From America 10-CFA10 on Jul 8, 2010
Page last updated: Feb 22, 2012