Florida's Second Congressional District

 
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Taxes

Our government has one of the most dynamic and complicated tax systems in the world.  Businesses and individuals spend billions of hours and dollars to prepare and comply with the U.S. tax code.  I will support legislation to make our US Tax Code less complicated and to reduce taxes for the middle class.  Additionally, I support the proposals of the Fair Tax Act. 
H.R. 25:  Fair Tax Act of 2007  - To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.

The Fair Tax was introduced by the 106th Congress by Representative John Linder (R -GA)  and only received 7 cosponsors.  However, the Fair Tax Act of 2007 has gained momentum and currently has 72 cosponsors.
The Fair Tax imposes a national sales tax on the use or consumption in the United States of taxable property or services. The Fair Tax also sets the sales tax rate at 23%  with adjustments to the rate in subsequent years. The Fair Tax allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for state government functions
I believe the 111th Congress should further debate the proposal of the Fair Tax Act.
 

In the event that the Fair Tax Act is unable to gain immediate traction in Congress, I support the following tax proposals:

 

I support the proposal to make it harder to raise taxes by requiring a  3/5 majority vote  in Congress .  

I support a permanent repeal of the Alternative Minimum Tax (AMT), that is forecasted to be paid by over 25 million middle class families.  It is estimated that if the AMT is repealed that middle income families would save approximately $60 billion a year in income tax.

I support with the proposal to raise personal exemptions for each dependent from $3.500 to $7,000.

I support in cutting the Federal Corporate Tax from 35% to 25%. 

I support in lowering taxes on dividends and capital gains.

I support in repealing the current Estate Tax Law which is really a tax on death !

Paid for by the Mark Mulligan for Congress Committee