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John Kasich (Tax Reform) (view source)
Revision as of 17:29, 27 January 2016
, 17:29, 27 January 2016no edit summary
*Eliminate the death tax.
*Simplify Deductions: Preserve the tax deduction for charitable donations for all taxpayers and the mortgage interest deduction (maintaining current limits).
[https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/Kasich-Plan-Fact-Sheet-Cutting-Taxes-1.pdf (KCTRJKWTR)]
===Tax Cuts for Job Creators:===
*Territoriality: To keep U.S. businesses’ foreign-earned profits flowing back into the U.S., Kasich will replace our current worldwide tax system with a territorial system that only taxes profits businesses generate in the U.S. This will make the U.S. more competitive and put it on the same footing as Canada, Australia, Germany, the United Kingdom and most other major industrialized nations.
*Immediate Expensing: John Kasich will let businesses immediately deduct the full cost of new equipment, machinery and buildings. Accelerating the tax deductibility will encourage more company investment, resulting in greater growth and job creation.
[https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/Kasich-Plan-Fact-Sheet-Cutting-Taxes-1.pdf (KCTRJKWTR)]
===Tear Down Barriers to Innovation:===
Initiate a comprehensive review of federal policies to identify and eliminate barriers to research, innovation, commercialization of new breakthroughs and start-up business success. [https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/Kasich-Plan-Fact-Sheet-Cutting-Taxes-1.pdf (KCTRJKWTR)]
===Reform the Internal Revenue Service to eliminate inefficiency, bias and corruption:===
The Kasich Administration will launch an independent, top-to-bottom review of the Internal Revenue Service and its practices with the goal of improving simplicity, fairness and integrity. No more will the IRS be used to target individuals or groups based on ideology or other irrelevant factors. [https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/Kasich-Plan-Fact-Sheet-Cutting-Taxes-1.pdf (KCTRJKWTR)]
