Middle Class Tax Plan
Our tax system should reflect our values. The work we reward and encourage, as well as how much we ask each citizen to contribute to our common efforts, not only determines our economic growth, but also reflects our priorities as a country. For too long, those priorities have been skewed by a tax system that benefits the wealthiest people and corporations, while ignoring the needs of hardworking families and innovative small businesses.
The Bush tax cuts for millionaires have been a huge failure for the American people. When they were passed, we were promised that these tax cuts would stimulate the economy and help the whole country. But seven years later, we've seen their disastrous results—stagnating wages, rising unemployment, and more companies shipping jobs overseas. It time for a tax plan that helps put money in the pockets of hardworking Americans, not millionaires and corporations.
But if we're going to fix our tax system, we can't have more of the same. We must turn the page on the failed Bush tax cuts for millionaires, and turn our attention to helping the American people. Our tax system shows what we value, and it's time we start valuing the hardworking families of this country. I will fight to:
- Lower Taxes on Hardworking Americans. We need to lower the tax burden on middle class families who have worked so hard to achieve the American dream. That's why I support tax cuts that will lower taxes for 95% of American working families. There has been some good work done over the last few years to reduce the tax burden on hardworking Americans—like increases in the child tax credit and an easing of the marriage penalty—and those policies should be continued as well.
- Encourage the Growth of Small Businesses. We need to make it easier to start and run a small business, giving tax breaks that encourage investment and tax credits to help businesses pay for rising healthcare costs.
- Create Jobs Here, Not Overseas. While more and more good jobs are being shipped overseas, we have a tax system that rewards the offending companies and punishes the innocent American worker. I will end tax loopholes that encourage outsourcing, and give tax breaks to companies that create jobs here at home.
- Ensure Everyone Pays Their Fair Share. We do best when everyone pays their fair share. Particularly in these times of financial crisis, we need to close tax loopholes and make sure that our wealthiest citizens are paying what they should. I will end the Bush tax cuts for millionaires, eliminate tax breaks for oil and gas companies, and close corporate loopholes.
- Simplify the Tax Code. Americans who work hard and play by the rules shouldn't need to spend the money to hire an accountant just to make sure they are following the law and paying their taxes. We need a tax code that allows millions of Americans to file their returns in under five minutes, saving time and reducing stress.
Read Alice's full plan — Valuing Hard Work: Reforming our Tax System for the Middle Class
