Our Political Action Committee strongly advocates for tax policies that encourage business growth and provide relief to all income groups, particularly the middle class and the wealthy. We believe that over-taxation serves as a disincentive for companies to establish or maintain their operations in the United States and does not benefit any segment of society.
The philosophy that when individuals and businesses retain more of their earnings, the entire economy benefits, is central to our stance. Specifically, when the wealthy are allowed to keep a larger portion of their income, they are more likely to invest in new businesses and create job opportunities domestically.
We contest the notion that an annual household income of $250,000 qualifies as wealthy, arguing that this level of income should be considered middle class. Therefore, using this income threshold as a justification for increased taxes is misguided. Lowering taxes across the board, both at the federal and state levels, is viewed as a more effective strategy for economic growth and prosperity.
As an example of detrimental tax policy, we cite the State of Illinois’s significant individual income tax increase in January 2011, which raised rates by 66%. This decision, made in an attempt to address a substantial State budget deficit, is seen as a counterproductive measure that ultimately hinders economic health and growth.
Our position is that reasonable and fair taxation is key to fostering a thriving economy. We advocate for tax reforms that reduce the burden on all Americans, especially those who drive economic growth through investment and job creation. Our goal is to create a tax environment that stimulates business development, increases employment opportunities, and ensures the overall economic well-being of the nation. Shining examples of States within the Union which have achieved significant business growth through lower taxation include Florida, Texas and Tennessee.