To build the most innovation-friendly economy in the world, we must build the most business-friendly economy in the world. Right now we have, quite nearly, the exact opposite. The United States has the highest corporate tax rate in the developed world. We have a tax code that punishes American companies for competing in the global economy, and a regulatory system that prevents small businesses – the primary engines of innovation and job creation – from competing against established players.
How:
- Empower innovators rather than punish them.
- Cut our corporate tax rate to be competitive with the average of 25 percent for developed nations.
- Establish a territorial tax system.
- Put a ceiling on the amount U.S. regulations can cost our economy.
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