Hirsh Singh on Tax Reform

Higher tax burdens are counterproductive

New Jersey's gas tax has lost much of its revenue productivity. The evidence is incontrovertible; not only are such tax burdens counterproductive, but even with the extra revenue Democrats will still find a way to waste it faster than they can take it from you. Your money is best spent by you, not the government.

Lower corporate tax to 15%, reduce capital gains tax to 10%

• We need a simpler, more equitable tax system to ensure the economy grows at 4% or higher.
• We need a second round of tax cuts. I will fight to:
• Lower the corporate tax to a flat 15%
• Cut the number of tax brackets from seven to three
• End corporate loopholes that allow some companies to pay no federal taxes
• Repeal the death tax entirely
• Reduce long-term capital gains taxes to a flat 10%
• Reinstate deductions for state and local taxes

End the inheritance tax, the gas tax, and property tax hikes

• Freeze property tax hikes and work on implementing a cap on the property tax at a maximum of 75% above the national average to bring down current rates across the state and prevent a slow creep to unsustainable levels.
• Abolish the inheritance tax, which affects more people than the estate tax, and is one of the highest in the nation at 16%.
• Repeal the $.23 gas tax and work to reduce government spending.
• Work on minimizing taxes for small and midsized businesses.