As Republicans, the PLU GOP intrinsically believes that government governs best when it governs least. We hold this especially true regarding the economy.
For the economy to be prosperous and dynamic, the American people must be left more of their own money to spend, save, or invest as they see fit. We believe the individual American taxpayer, not the government, knows the best manner through which to handle their own money. For this reason, we support the president's tax cuts and advocate their permanent extension.
Moreover, we believe the federal tax code should be reformed altogether, with the current anti-growth IRS code being replaced by what the president called in his 2004 acceptance speech a "simpler, fairer, pro-growth code." Instead of discouraging economic growth by taxing earnings and savings and investment, we should tax consumption at one flat rate, with exemptions for those with the lowest incomes. Such a transition, estimates Harvard economist Dale Jorgenson, would permanently increase national income by 10-15 percent. It would undoubtedly be a huge wind to the sails of our economy to abolish the IRS, double taxation on savings, the death tax, and taxes on dividends and capital gains.
The role we do envision the government playing in the economy is a very limited one. We believe that the government should help Americans acquire the tools they need in order to thrive and make a good living, and then get out of the way. Government should be there, whenever possible, to provide financial assistance to Americans seeking a college education or technical training to gain an expertise in a specific career field. The government should promote self-sufficiency by giving the individual the tools he or she needs to be self-sufficient. The government should also make self-sufficiency easier to maintain by, we reiterate, taxing less of what working individuals earn.
We also call upon the federal government to restrain wasteful government spending. Government should be no different than any home or business. It should live within its means and, wherever possible, balance its budget and minimize its debt.
We openly acknowledge that as the majority in both houses of congress it has been Republicans who have routinely ignored this approach over the years. Accordingly, the PLU GOP calls upon both parties---Republican and Democrat---to end the wasteful pork-barrel spending that has existed in Washington D.C. for too long and to set responsible budgets that do not saddle ours and future generations with exorbitant debt.
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