For more than forty years, the United States Congress has shamelessly used payroll taxes intended for Social Security to fund big government spending.
The American people know what's necessary to get this economy moving again. It's fiscal discipline in Washington, D.C. and across-the-board tax relief for working families, small businesses and family farms.
By requiring that any surplus in Social Security taxes be returned to the American people in personal savings accounts, the plan ensures that Social Security taxes will be used for Social Security.
Whether it's being repealing or replacing Obamacare, rolling back excessive regulations, making the kind of investments that'll support infrastructure, or reducing taxes and reforming business taxes across the country. That's just a sampling of the things that we're working on right now.
It's time to stop the raid on the Social Security trust fund and start allowing Americans to invest their Social Security taxes in personal savings accounts.
We really believe that we can bring about changes in the tax code that will make America more attractive for investment and job creation and business. But the president has also made it very clear that he wants to put - he wants to put new elements in the tax code that are going to have companies pay a price if they decide to take jobs out of the country and then sell their goods back into the United States.
In my home state of Indiana we prove every day that you can build a growing economy on balanced budgets, low taxes.
The president made it clear that he expected Congress, while they take action to repeal the most corrosive elements of Obamacare, the taxes, the mandates, things that are suppressing job creation and driving up the premiums for working families across the country.
We've seen an economy stifled by more taxes, more regulation, a war on coal and a failing health care reform come to be known as Obamacare and the American people know that we need to make a change.
Donald Trump is a businessman, not a career politician. He actually built a business. Those tax returns that were - that came out publicly this week show that he faced some pretty tough times 20 years ago. But like virtually every other business, including the New York Times not too long ago, he used what's called net operating loss. We have a tax code that actually is designed to encourage entrepreneurship in this country.
Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.
Hillary Clinton are going to raise taxes and Donald Trump and I are going to cut them.
The only issue on taxes - Hillary Clinton is going to raise taxes, and Donald Trump and I are going to cut them.
The reality is that during the Reagan years, for instance, we doubled the amount of revenue that we were sending to Washington, D.C. after the tax cuts took effect.
This is a very challenging time in the life of our nation. Weakened America's place in the world after the leadership of Hillary Clinton and Barack Obama on the world stage has been followed by an economy that is truly struggling, stifled by an avalanche of more taxes, more regulations, Obamacare, the war on coal and the kind of trade deals that put American workers in the back seat.
Trump's tax returns - his tax returns showed he went through a very difficult time, but he used the tax code just the way it's supposed to be used. And he did it brilliantly.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
Then by the springtime, you'll see us moving an effort to cut taxes for working families, small businesses and family farms to reform our business taxes in this country so that American businesses can compete more effectively with businesses around the world.
You bet every member of Congress who votes for this bill ought to read it, read it thoroughly, and understand that what we're looking at here amounts to nothing more than a government takeover of our health care economy, paid for with nearly a trillion dollars in new taxes on individuals and small businesses. And it must be opposed.
We'll be passing tax relief for small business owners and working families across the country.
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