Taxes, Spending and Jobs
We need to cut taxes, encourage job creation, and put our fiscal house in order.
We need real, fundamental change. The tax burden on individuals, families, and small businesses is oppressive and should not be increased. Nassau County's tax burden is one of the highest in the nation. By reducing tax rates and reforming the tax code, we can bolster entrepreneurship, savings, and investment. That will create new jobs.
- At a time when unemployment is reaching levels we have not seen in a quarter-century, the last thing we should do is punish those who would create new jobs.
- Our notoriously complex tax code unnecessarily burdens taxpayers and benefits special interests. It should be replaced with a simpler, flatter tax code.
- We need to cut the corporate tax rate, which is now the highest in the industrialized world.
One of the great ironies of recent times has been the spectacle of politicians railing against overleveraged corporations for following the same kinds of financial practices as the government itself. Fundamental change means not just lowering spending, but reforming a broken spending process from top to bottom.
- Each of the last two years, Washington spent $1.3 trillion more than it had.
- This level of deficit spending crowds out consumers looking to buy homes and small businesses looking to create jobs. Only by reducing deficit spending can we reduce the risk to our currency and provide a stable economic environment to grow investments and create jobs.
- Our national debt has reached historic levels—nearly $16 trillion, much of which is owed to foreign nations.
- Excessive debt may cause inflation. We will not reduce debt by creating more debt.
- With near term interest rates at close to 0%, the interest on the current debt is approximately $450 billion. As rates rise, interest payments will devour an increasing share of federal revenue.
- We need to cap spending or debt at a ratio of GDP more reflective of historical levels of spending.
- We need a moratorium on congressional earmarks.
- A congressional committee should be established to reduce appropriations.
- The 1974 Congressional Budget and Impoundment Control Act should be amended to increase presidential discretion to curb wasteful spending.
- We must fix our system of entitlements, which faces irreparable damage if we do not act soon.
- We cannot put our fiscal house in order without maintaining a sound and stable dollar.
This Congress has abdicated its responsibility to address our government’s chronic spending problems, at a detriment to our standard of living. Under new leadership, members of the next Congress must change course, or else we will continue mortgaging the next generation’s future.
Frank Scaturro is a Republican candidate for the U.S. House of Representatives in New York’s 4th Congressional District. Frank believes our nation is at a tipping point, and if we do not turn things around, we could face many more years of decline. That is why he is offering the voters of Nassau County a real choice for principled new leadership that will finally represent the people.
As a principled new voice, Frank will work to make our Federal government accountable to the people again, reign in out-of-control spending, and reduce a crushing federal tax burden that hurts Long Island citizens and businesses.
Frank Scaturro was born in New York City in 1972 and raised in New Hyde Park following his family’s move to that community in 1973. His father, who had emigrated from Italy as a boy, was self-employed in a commercial air conditioning and refrigeration repair business for several years. He later became the supervisor of maintenance and operations at Bergdorf Goodman in New York City and then held a similar position at Chaminade High School in Mineola. His mother studied physical therapy at Nassau Community College and worked near home as a secretary at an insurance agency and several law firms. Read More