By Jim Campbell, Citizen Journalist
The contrast between two candidates could not be any more different on so many issues. On taxes however, it’s quite simple. When Elizabeth Emken hears “Taxes” she believes in lowering them. When Dianne Feinstein hears “Taxes” its raise them.
As countries around the globe continue to implode following socialist policy, Feinstein continues to wear blinders. As Greece burns she is completely oblivious. Dianne Feinstein is wrong for California and America. Vote Elizabeth Emken in the June 5th primary, the only candidate endorsed by the California Republican Party capable of removing Feinstein in November.
In any society, the amount of taxation and the manner of collection is the single most important determinant of how well its economy will perform. Speaking as someone who spent a significant amount of her career as an efficiency expert, Elizabeth understands our current tax system is the root of many of our current economic troubles.
The actual law for the income tax is 3,387 pages. The IRS has a total of 13,458 pages of regulations to enforce the income tax, using 865 different forms and 321 instruction pamphlets. Other countries must think we’re crazy.
We need fundamental tax reform, while Diane Feinstein has no plan, Elizabeth’s is simpler, fairer, broader and lower.
The Emken Approach
By global standards, the United States has one of the most complex tax codes in the world. The current system obviously undermines our confidence, and undermines our competitiveness, as American businesses tangle with an ever-growing sprawl of red tax tape.
Yet, the response provided by the White House and Senate Democrats like Dianne Feinstein is that we need MORE. More taxes, more regulations, and more convoluted laws that don’t do anything but ensure that you and I lose more of our financial freedom.
For example, Dianne Feinstein joined her fellow Democrats in voting for the “Buffett Rule.” The Buffett Rule is a political gimmick. It promotes “fairness” by making an unfair comparison between income taxes and capital gains taxes. It also distracts from the truth that capital investment is actually taxed at least four separate times under our tax code.
- It’s taxed first by America’s uncompetitive corporate income tax, which is now highest in the world.
- If it’s paid out as dividends, then it is taxed again by the individual income tax.
- If the value of the capital interest increases, then it is taxed again by the capital gains tax.
- If there’s any left at the investor’s death, then it’s subject to taxation again by the death tax.
It’s no wonder that it seems like the only ones investing in America are the Chinese.
The President himself admits that the “Buffett Rule” is a “gimmick.” It has no impact on the economy whatsoever. Here’s how absurd it is: columnist Mark Steyn wrote that with the revenue from the “Buffet Rule”, it will take 514 years to pay off the deficit from 2011 alone. If we follow the “Buffett Plan,” it will take Senator Feinstein until 2056 just to pay off what she’s overspent in the last year.
But that didn’t stop Dianne Feinstein from voting in favor of it, even though the Democrats admit it doesn’t create jobs, balance the budget, or solve our out-of-control debt crisis, of which Senator Feinstein is responsible for $6.5 trillion since the last time she faced California voters.
The heavily contested primary is on June 5th. Elizabeth Emken is asking for your vote as the only candidate capable of sending Diane Feinstein and her wrong-headed policies home from Washington.