Issue Statements
Economy
Economy
In recent months Americans have watched as home foreclosures and mortgage defaults resulting from the subprime lending craze become an ever-increasing drag on our economy. Most recently, these foreclosures and defaults have begun to threaten the stability of our nation’s entire financial system. While some advocate and support increased government control and spending, I do not believe bigger government is the answer.I believe there is a better solution. We must act to bring long-term stability to the financial markets. I believe in personal responsibility and the free market, not government bailouts. As a short-term measure to increase economic activity and growth, I believe we need to suspend taxes on capital gains for at least two years. This one change in the tax code would unleash a flood of new capital into our economy. As a long-term solution, however, I believe we must scrap our current income tax code and replace it will the FairTax, a national sales tax. The FairTax will eliminate our current system that taxes your work and productivity. With the FairTax, you are only taxed on the items you consume; therefore, you control how much you are taxed each year. To learn more about this important proposal, visit www.fairtax.org.
Related Records:
Recent Press Releases*
November 2009
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18th - King, Republicans to Host Forum on Jobs, Illegal Immigration Tomorrow -
17th - Obama’s “Stimulus” Spends $862,498 Per New Job In Western Iowa
October 2009
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14th - King Secures Funding For Lewis and Clark Water System -
14th - King Secures Funding For Western Iowa Tech
July 2009
March 2009
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