Senator Bob Smith

See where Senator Bob Smith stands on Tax Policy.

Tax policy

It is the American taxpayer who needs relief, not companies and CEO's that ran their businesses into the ground. Chief Justice Marshall‘s statement, “The power to tax is the power to destroy” holds true today.

The Obama “stimulus” policies are on the verge of destroying our economy through hyper-inflation which President Reagan described as the “cruelest tax of all“. As a student of History, I learned that the major economic expansions in our country’s history have followed major tax cuts. The time has come for a major overhaul of the U.S. tax code that eliminates the current burdens on producing businesses and individual incomes. I wholeheartedly support the fair tax concept which would eliminate federal income, business and other excise taxes, and replace them with a flat tax on the consumption of new goods and services. I will not however, pander by blindly signing on to any bill that does not also repeal the 16th Amendment that made individual income taxes constitutional in the first place. Although I support the concept of the Fair Tax, abolishing the federal income tax merely by passing a law, would leave the door wide open to easily bring it back under a so called “emergency”, making the fair tax just one more business-killing tax.

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