A growing, dynamic economy is critical to ensuring that our country
and the American people prosper. We need an economy that
encourages entrepreneurship, facilitates the creation of jobs that offer
a variety of working relationships, and develops cutting edge new
technologies, products and services. IWV supports government
policies necessary to foster a healthy private sector, including:
- Low tax rates: high taxes discourage the behavior that is
taxed. That’s why it is critical that we keep taxes low on
work, savings, and investment. Lowering tax rates keeps
money in the private sector and encourages productive
behavior, which creates more jobs and greater prosperity for
- A simple tax code: Too much time and money is wasted on
complying with a needlessly complex tax code. Those
resources would be better spent elsewhere. IWV supports tax simplification to reduce
that waste, encourage greater compliance, and so that we can more easily lower tax rates.
- A fiscally responsible, limited government: Government overspending is a drag
on economic growth today, and a serious threat to future generations. Government
borrowing makes private sector borrowing more expensive, which impedes growth.
The debt that government is racking up will have to be paid off eventually, and in the
meantime more of our tax dollars will be going to pay interest to service the debt. To
prevent tax increases, the devaluation of the dollar, and anemic economic growth,
policymakers need to make real cuts in spending to move toward a balanced budget.
- Free trade: Most consumers don’t live in the United States which is why it is so critical
that the federal government works to reduce barriers to free trade and facilitate the
exchange of goods and services around the world. Trade with other countries enables
American consumers to have access to high quality goods at lower costs. It also gives
American businesses the opportunity to sell their products and services around the
globe. Greater trade liberalization will lead to greater prosperity at home and abroad.