Category: Jobs

Tax Reform

Tax Reform

Taxes provide the revenue government needs to operate and the federal deficit will require a combination of cuts in spending and selected tax modifications to increase revenue yet provide an environment for job-providing businesses to flourish.  I support reducing the general corporate income tax rate to 33% and estate taxes to 40%.  I also support restoring a $3.5 million exemption with portability so that married couples effectively have a $7 million exemption before being subject to federal estate tax. This will protect family farms from being subject to federal estate tax.  I have stated that taxes on wage income absolutely should not be increased but that the Bush tax cuts should otherwise be repealed.

Man holding a card with a text Tax Reforms.

I support the “Let Wall Street Pay for the Restoration of Main Street Act” which would assess a small securities transaction tax on Wall Street which will be invested in the current needs of the U.S. economy. A securities tax would be applied to stock transactions (0.25%), futures (0.02%), swaps (0.02%), credit default swaps (0.02%), and options.  Half of the approximate $75 billion in revenue would be deposited in a Jobs Creation Reserve and the other half would reduce the federal deficit.  TARP recipients absolutely should be required to pay back every penny of taxpayer funds they received during the bailout.

Fiscal Reform and Stability/Economy

Fiscal Reform and Stability/Economy

The fiscal collapse of 2008 was a failure of effective oversight by the Bush administration and Congress.  The Dow Jones average had cratered to 7,949 points on January 20th when President Obama took office and the stock market bottomed at 6,594 points just 44 days later.  The $787 billion American Recovery and Reinvestment Act of 2009 played an important role in stabilizing the financial markets when no bottom was at that time in sight. Make no doubt that absent massive infusions of capital by the U.S. government and governments worldwide into the global economy, that the world would be in a second Great Depression and perhaps global war.

As a reminder to the voting public, the bank bailout was signed under President Bush on October 3, 2008.

I support additional Wall Street reform and enhanced oversight, while my opponent voted against Wall Street reform even after Wall Street took the country to the brink of economic collapse.

I support policies that will help prevent and preclude future financial collapses.  Among these would be to preclude the issuance of options by bank-bailout (TARP) recipients and publicly traded companies and to require the issuance of restricted stock that vests over periods of time and that provides claw-back provisions should certain detrimental triggers occur.

Other important facts to remember:

  • The $85 billion bailout of AIG was approved in September 2008 under the Bush administration.
  • The bailout of GM/Chrysler originated in the Bush administration
  • The government conservatorship of Fannie Mae and Freddie Mac originated under the Bush administration.

Claims by my opponent that the current administration orchestrated the government takeover of broad swaths of the U.S. private sector are false and his ridiculous charges of Marxism or Socialism are misplaced and absurd when the facts are analyzed.

 

Economic Development (GOOD JOBS)

Economic Development (GOOD JOBS)

There is no better social program than a good job.  I advocate that the Congressional office work with regional economic development groups to annually identify the 5th District’s 50 fastest-growing businesses to retain and attract young working families in Western Iowa.  Collectively, this will spur more economic development in Iowa cities and rural towns.

Next I will champion using stimulus dollars and existing loan-guarantee programs to work with good corporate partners and innovative entrepreneurs to build new manufacturing plants in Western Iowa–building new high-tech manufacturing plants in Western Iowa.  We’ll create immediate shovel-ready jobs in building the new high-tech manufacturing plants and then once the new plants are built they will create new manufacturing jobs.  It’s a win-win for our communities, businesses and working families.

Together we will champion our renewable energy economy through increased energy production from biomass and wind.  I will create a Congressional liaison in the Iowa’s 5th district leadership that will work side-by-side with community leaders and myself to increase revenue streams in our communities through increased energy production from biomass and wind.  We have seen just the beginning of what Iowa can do with renewable energy production and we must preserve gains made and make strides forward to improve our local economies for the betterment of us all.

Helpful links for businesses and entrepreneurs include:

For a Representative You Can Be Proud Of– I’ll Help Bring Good Jobs but I Need Your Help Now

For a Representative You Can Be Proud Of– I’ll Help Bring Good Jobs but I Need Your Help Now

The Campbell family roots are deep in western Iowa.  Our family history in the district goes back to 1880 when my great-great grandfather established a family farm near Manning, Iowa.  I’m a sixth generation Iowan and graduated from Manning High School and Morningside College in the district before obtaining law degrees from the University of Iowa and Georgetown University.

I’m running for office because we deserve better leadership in Western Iowa.  Our current representative votes frequently against legislation that would positively impact the middle class, seniors, veterans and rural interests and is not effective in Washington DC.  He’s never written a bill that’s become law since being elected in 2002.

I’ve said it before and I’ll keep saying it.  There are three issues in this race, and they are jobs, jobs and jobs.  Good jobs that help keep our communities vibrant and strong.  I’m in this race to help bring needed jobs to western Iowa. I’m the former regional lead of a four-state region at the 10th largest accounting firm in the country and have the business background and know-how to help revitalize rural America.

I know working families, and I know many are hurting. As part of my economic development plan for Western Iowa, I advocate that the Congressional office work with regional economic development groups to annually identify the 5th District’s 50 fastest-growing businesses to retain and attract working families in western Iowa.  I propose calling it Iowa’s 5th District FastTech 50.  This effort and other initiatives we’ll discuss in the campaign will spur more economic development in Iowa cities and rural towns.  I care deeply about western Iowa and will work every day as your next U.S. Congressman to fight for working families.