ON-Lion Letter
Over the course of nearly a half-century following World War II, America built and enjoyed the most prosperous economy in the history of world.  Today, however, many Americans live paralyzed in fear of losing their jobs and not being able to make ends meet, experts tell us to expect high unemployment and a slow-growth economy for years to come, and Americans are not optimistic that things will get better.

The Free Congress Foundation's (FCF's) new Growth Code is simply, squarely and precisely focused restoring America to a sustainable economic-growth trajectory.  The Growth Code proposes:  a simple unified 15% rate on all business income, regardless of the type of entity; tax rates of 10%, 15%, and 25% on individual income as currently defined under the federal tax code; immediate expensing of capital equipment; elimination of the abhorrent practice of double taxation; and a family tax credit of $4,300 for any household living in poverty.

Under FCF's Growth Code, among other things, small businesses will no longer be taxed as individuals.  Instead, they will be taxed as entities and pay no more than 15% on their revenue in taxes.  All businesses will pay the same rate.

Also, tax brackets will be lowered and dramatically simplified for individuals across the board, including the middle class, and profits made abroad will no longer be taxed when brought home for reinvestment.  This will bring an explosion of capital investment in America.

Independent economic-modeling studies by former Treasury Department officials have projected that enactment of The Growth Code will lead to a dramatic drop in the unemployment rate to 4.7%, a 14.5% increase in Gross Domestic Product, a 14.8% increase in federal tax receipts, and a 35.3% boost in capital investment.

Milwaukee's Lynde and Harry Bradley Foundation substantially supports FCF.
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