Friday, February 13, 2009

Oxendine: Where are the Tax Cuts in this Economy?

Insurance Commissioner John Oxendine today questioned whether government will continue to worsen the pain of the citizens of our nation as politicians fail to embrace the principles that would jump-start this economy such as significant tax cuts.

"All I see elected officials doing is more of the same. Inflicting more grief on our hard-working citizens," Oxendine said. "If they truly understood sound economic principles as did Ronald Reagan and even Democrat John Kennedy, they would stumble over each other to significantly cut taxes. That's how you turn around an economy."

Oxendine pointed to the $790 billion so-called stimulus plan in Congress, a pork-laden spending measure he said will add to our nation's debt and potentially spark inflation in the near future.

"We also don't need to indebt future generations to pay the price for our government's mistakes and its lack of discipline when it comes to taking a knife to spending," Oxendine said.

"This so-called stimulus package is an invitation to expand social spending in our state government, irresponsible temporary solutions to serious issues, and larger state budgets," he said. "Instead of the current "Porkulus Bill," I urge the President and Congress to take steps that support small businesses across America and Georgia. Allow for the tax deduction for a new small business startup cost to double, to $10,000 from its current $5,000. Many people being laid off will be starting small businesses and this action is real stimulus right now," said Oxendine.

Here in Georgia, Oxendine said he is concerned Georgia's 1.7 million homeowners, farmers, and small business owners will see a tax increase later this year. That amount could be even greater if Governor Perdue vetoes legislation passed dealing with property tax relief since the bill made sure homeowners did not have to cover a shortfall in state revenues for this year's budget. If the governor does veto the bill, homeowners would not only have higher property tax bills later this year, but could also receive an additional tax bill of $300 to cover a shortfall for their last year's property tax bills.

"The party of less taxes and less government should get this one basic concept," Oxendine said. "In this tough, tough economy, when layoffs are happening every day, you absolutely do not ask taxpayers to pony up more money to fund government. You cut spending, period. You only fund services that are required by the Constitution. And we all know we have many services that aren't what the founders of this nation or this state envisioned taxpayers to be paying for."

"It is unfair for state officials to posture themselves as being a friend to counties, cities, and school boards when they are passing along unfunded mandates from Washington and the state Capitol," Oxendine said. "Our county commissioners, mayors and city council members are good people who deserve a state government that is a partner not an obstacle to local control."

John Oxendine
Oxendine for Governor 2010

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