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Jim Gilmore 2016 Presidential Campaign Website - July 29, 2015

Jim Gilmore 2016 Presidential Campaign Website - July 29, 2015

 

 
   
Join Governor Gilmore in his efforts to restore American prosperity today.

With so many candidates already in the race, some may ask why I am running. That’s a fair question, and deserves a straight answer. I’m a candidate for president because our current Washington leadership is guiding America on a path to decline and I can reverse that decline. That current leadership is damaging our economic and national security to such a degree that for the first time in American history, most Americans believe their children will not be better off than they are.

I have a vision for a different America. One that will return America’s policies of a dynamic entrepreneurial free market economy and a policy of peace through strength for our national security. To learn more, watch the video of my announcement or read about the Growth Code , my plan for economic prosperity.

THE GROWTH CODE

Made up of five steps, The Growth Code is simply, squarely and precisely focused on the tax code and restoring America to a sustainable economic growth trajectory:
•A simple unified 15% rate on all business income, regardless of the type of entity;
•Tax rates of 10%, 15% and 25% on individual income as currently defined under the IRC;
•Immediate expensing of capital equipment;
•Elimination of the abhorrent practice of double taxation;
•Any household living in poverty will receive a family tax credit of $4,300.

What will these steps mean to people, businesses and the economy? Under The Growth Code:
•Small businesses will no longer be taxed as individuals. Instead they will be taxed as entities and pay no more than 15% on their revenue in taxes. All businesses will pay the same rate.
•Tax brackets will be lowered and dramatically simplified for individuals across the board, including the middle class.
•Profits made abroad will no longer be taxed when brought home for reinvestment. This will bring an explosion of capital investment in America.
•Taxes on dividends, distributions and capital gains will be eliminated.
•Every American will pay taxes. Americans living in poverty will pay less.
•The mortgage deduction and charitable giving deduction will be protected.
•American companies will finally be able to compete on a level playing field against our biggest competitors, such as Japan, China and the largest economies in Europe.

Independent economic modeling studies by former Treasury Department officials have projected that enactment of The Growth Code will lead to:
•A dramatic drop in the unemployment rate from 9.1% to 4.7%;
•A 14.5% increase in GDP;
•A 14.8% increase in federal tax receipts;
•A 35.3% boost in capital investment.

Americans have always looked at our country as the “city upon a hill” from the time of the Puritans to John F. Kennedy to Ronald Reagan. The Growth Code is our way back to economic prosperity so we can all again see a brighter future where the American Dream is secure and thriving.

Source:  Jim Gilmore for America

 

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