Economic Growth

America needs real economic growth of 4% per year—or greater.  We achieved this in the 1990’s and we can do it again. A boost of this kind would close our budget deficit and our national debt would start to decline to 1990’s figures.

To supercharge growth, we need reform in two main areas: the Federal Reserve and tax policy.

The Federal Reserve

The Federal Reserve has caused a lot of damage to the American economy since it was first created.

The biggest problem is that the Fed has failed to stabilize the value of the dollar. The result has been a boom-bust cycle that has limited growth, jobs and wages.

Despite some progress since 2016, today’s real unemployment rate is 10%, not 3.6%. America needs 10 million more jobs. To achieve this, the Fed must stop its meddling, stabilize the dollar at a non-deflationary level (in terms of commodity prices) and let businesses operate.

Tax Policy

Recent Republican measures marked a good start for tax reform, but we need a simpler, more equitable tax system to ensure the economy grows at 4% or higher.

To achieve this, we need a second round of tax cuts. In the Senate, 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

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