Proposed "Grand Bargain" is a Bad Deal
President's Tax Hike is Just not Favorable to Individuals or Job Growth
(Washington, D.C.) – Today, the President proposed a new "Grand Bargain" that raises taxes through corporate tax reform with the promise of using those revenues for short term job creation and finance more government spending. The proposal does little to spur private sector investment, growth and hiring. The speech kicks off the second round of seven policy speeches that have proposed little to improve the state of our economy.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"Reforming the tax code to raise revenue and add to Washington's spending problem is hardly a bargain – especially as a recent survey reveals that four out of five Americans struggle with extended job loss, poverty level wages and reliance on welfare at some point in their lives, making the American Dream less attainable in their eyes. This week the House Ways and Means is also scheduled to evaluate the progress on our War on Poverty; at this rate, there won't be much progress to report. The answer is not government-created jobs – the Administration has proved this approach does not work; it is wasteful and grows debt. The only real solution is to rein in government taxes and regulation so small businesses, America's job creators, can go back to hiring. Let's get Washington out of the way, and allow small businesses to grow our economy."