Congress should extend all of the existing federal tax rates to spur economic growth and not limit it to a certain group of taxpayers, according to Republican Congressional candidate Lisa Wilson Foley Monday.
"President Obama is wrong to limit tax cuts," said Wilson Foley, a business owner who has created thousands of private sector jobs during her career. "Small businesses will suffer unless all current rates are extended for the foreseeable future."
Friday, the U.S. Department of Labor Department reported only 80,000 jobs were created, another sign of a weak recovery. Wilson Foley said, "If those in higher income brackets, including business owners who file individually, and two family earners, have more income to hire, invest and spend we will get out of these uncertain times faster than our government spending the money inefficiently."
"Our economic growth depends on having capital moving freely, not being targeted toward taxes," said Wilson Foley.
Wilson Foley supports reducing the corporate tax rate, eliminating the Death Tax, closing certain loopholes while simplifying the entire tax system. She believes that until those issues are resolved all tax exemptions should remain in effect.