Economy and Jobs
Economic growth is created by private business and entrepreneurs. The role of government is to protect our citizens and ensure interstate commerce, while creating a level and fair playing field for all participants. Businesses and the free market economy of the United States of America have produced one of the highest standards of living in the history of the world.
The key to growing the economy and creating jobs is to create a climate in which businesses are comfortable taking risks. Private job creation is the key to economic prosperity. Every dollar taken from the financial markets, in the form of taxes or borrowing, results in less money being available to entrepreneurs looking to hire Hoosier workers. We must encourage, not penalize, private companies to take risks and grow the economy.
One way we can grow our economy is by reducing taxes. The United States’ corporate income tax rate is the second highest in the industrialized world. Reducing this rate will make American corporations more competitive with corporations in other countries with which Americans do business.
We must also reduce personal income taxes. While I approve of tax rebates and most proposals that return money to the taxpayer, I oppose the temporary nature of such measures. Temporary income tax breaks are political ploys that produce no long-term economic benefit. Individuals and businesses make investment decisions based on long-term certainty, not short-term tricks. Policies should be geared toward long-term growth.