Budget, Taxes, and Wages

Ballooning Budget

We have recently seen the national deficit balloon over reckless spending. This year, it has ballooned due to the government stepping up to finance the American recovery from the COVID shutdowns. The money was spent to support small businesses and the American people. The deficit though before this was skyrocketing with wishful, pork spending bills. Congress was spending more money on pet projects from both parties that it will now take generations to repay. The current national debt stands at $24.95 TRILLION; let that sink in for a bit.

Let me ask you this, would you run your house with a deficit that is so massive that you have no chance of digging out from?

I will work in Congress to make sure that the money spent is being spent wisely. I will work to tighten the financial belt and make sure more money goes back into the pockets of hardworking Americans while balancing the budget to make sure America can pay back the debt. I want to make sure America can continue to thrive. Money doesn't grow on trees, and the government shouldn't spend recklessly on wish list ideals.

Lowering Taxes for All

In today's America, Americans are being taxed astronomically, and this shouldn't be. Government taxation only started as recently as 1913, with the institution of charging Americans an income tax on their paychecks. Back then, though, the highest tax paid was 7% on incomes over $500,000. Today, most Americans are paying around 14.2% of their income on Income Tax and up to 37% of their income after adding in Social Security and Medicare Taxes. What I would propose is this:

Lower the tax rate's for all money collected to just 10% of a person's/families yearly income under $500,000 and 15% for those that make over $500,000.
Cap business taxes at 18% of their yearly income. We are allowing them to keep more to grow their business.
Eliminate all of the other tax breaks and closing all the outrageous loopholes.
Making it so that no American has to file a tax return, EVER AGAIN!!

By lowering the tax rate to 10% for the first $500,000 and 15% after that, and capping business taxes at 18%, eliminating all the loopholes and tax breaks, and not having Americans file a tax return, we could balance the budget, put money towards the outrageous deficit, keep money in Social Security Retirement, and fund our government to run more efficiently and effectively. Not having Americans file a tax return, we could effectively slim down the IRS and save even more taxpayer money. The only ones responsible for filing taxes are the businesses; that's where we would focus the IRS on.

Wages

The federal minimum wage today stands at $7.25, while many states have adopted higher minimum wages. In Ohio, the minimum wage goes up from $8.70 for non tipped employees to $8.80 on Jan. 1, 2021. At the same time, tipped employees go from $4.35 to $4.40. This is unacceptable, in my opinion.

Many people who are out working need a livable wage, to where they can self sustain their way of life.

When I get elected, I will work to change all of that. No longer will Ohioans and the country get left behind. I am not saying $15 should be the new minimum wage. I propose starting the minimum wage at $12 per hour and raising it by a set amount per year for the next ten years to keep up with inflation and make sure that it doesn't get behind the cost of living. Each state would then be responsible for setting a minimum wage from this starting point.

With my tax plan and a better minimum wage, this would allow someone to live in a better place and start the American Dream journey. A $12 an hour job should be a starting place for someone as they strive for more in life and want more from their American Dream.