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May 6, 2012 No Comments ›› Terry Phillips

Our number one concern is employment.

Although there have been some gains in the past three years, Congress is doing everything in its power to block serious progress. Despite assurances from the incumbent and his fellow politicians, we cannot cut our way out of this period of economic difficulties. Reducing taxes will not create jobs. Maintaining tax cuts for the wealthiest is also a bad idea. Contrary to popular belief, rich individuals are not “job creators.”

Businesses create jobs in order to serve customers. The wealthy invest in the stock market, but do not directly hire most workers. Cutting services is also a bad idea. Doing this will harm those who are most vulnerable. If anything, we must extend those services to prevent an even greater catastrophe. Unfortunately, we are led to believe that “entitlements” are the source of our economic troubles. That is flatly untrue.

This is a vicious circle. As businesses see a drop in the number of customers, they lay off workers and, in some cases, close stores. The ONLY way to solve these challenges is through growth. That means putting more money into the hands of middle class consumers. Doing so will lead to an increase in commerce, a growth in employment, and a rise in tax revenues.

As an experienced and successful entrepreneur, I have real world experience.  By contrast, the incumbent failed in business, gave up, and has been collecting a government paycheck ever since.  His only suggestions are to parrot party talking points and vote to support his wealthy corporate contributors while further burdening middle class workers and small business owners.

One area we can focus on is high technology.  The Central Valley has a relatively low rate of broadband connectivity.  That represents a great potential for growth.  We also have tremendous human resource potential.  This is the time to invest in our youth rather than further impeding their ability to get an education. We need to take full advantage of all our resources.

I would recommend establishing a high-technology and agricultural enterprise zone in the district.  Let’s allocate federal funds to bring together our academic and private business communities, coupled with zoning and tax incentives to grow our local economy.  We should also work to attract foreign investment.

We should NOT punish businesses by raising taxes.  We DO need a fair adjustment in the tax rate, and everyone should pay a fair share.  We should explore a value added tax — as long as it does not harm consumers.

None of these things should be done drastically.  Our economy is fragile. We need to take gradual steps to implement policies that are proven to work. In our current economic climate, the greatest danger is to do nothing.  But that’s exactly what this Congress has done.  The incumbent is a leader of the least productive lawmaking session in U.S. history, all in the name of partisanship.  I am running to end the gridlock.


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