TAXES AND SPENDING
The problem with our nation's economy is not that the federal government does not do enough, but that it does too much. It spends too much, regulates too much, and taxes families too much. That's why Dornan opposed the tax increases of 1990 and 1993.
An average American family with children in 1950 paid only two percent of its family income in taxes to the federal government. Today, a similar family pays 24.5 percent to the federal government. (Boston Tea Party Time!)
NO NEW TAXES The surest way to destroy the economy is to increase taxes. Dornan will not raise taxes and will work to reduce the marginal tax rates to encourage economic growth.
BALANCED BUDGET AMENDMENT Dornan has supported and voted for constitutional amendments requiring a balanced federal budget. In addition, he supported an amendment that required a three-fifths "super-majority" to increase taxes to help ensure that the budget is balanced through spending reductions, rather than tax increases.
REPEAL OF THE CLINTON TAXES Dornan supports efforts to repeal the retroactive tax increases imposed in 1993 by the Clinton administration and the Democrat-controlled Congress.
CAPITAL GAINS Dornan has been a leader in the efforts to index capital gains to inflation to encourage investment, to end the double taxation of dividends by allowing corporations to deduct what they pay in dividends; and to allow for the full deductibility of capital loses.
FAMILY TAX RELIEF Dornan supported GOP efforts to enact a $500 tax credit for the children of all families. He also wants to restore full deductibility of IRAs for all taxpayers and to allow penalty-free withdrawals for first-time home purchases, education expenses or catastrophic medical expenses, and to eliminate the Social Security earnings test.