Our nation has a spending problem – not a taxing problem.  At the beginning of the 20thcentury, federal taxes equated to 3% of our economic output (the Gross Domestic Product (GDP.) Today, federal taxes account for 18% of GDP and total more than 67,000 pages of regulations.  The top federal tax rate is 35% for individuals; more than 1/3 of an individual's income.

State taxes have also grown at an alarming rate. According to the Tax Foundation, California ranks 48th for state business taxes – only the state of New York and New Jersey have less favorable business tax climates.  As a former small business owner, I know firsthand the burden government regulations have on business growth and job creation. Add the local, state and federal tax burden together, and many Americans are paying more than half of their earnings to the government. It is clear our country is in need of comprehensive tax reform. The federal tax system is too intrusive, complicated, and sometimes counterproductive. We should simplify the system and create economic certainty so that private enterprises will begin investing again. Through meaningful tax reform, we can broaden the American dream to reach everyone who’s willing to work for it.  The end result will be a prosperous economy and a globally competitive nation. Tax reform measures I have supported, include