Keep Taxes Low
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It’s time to create an incentive for being successful in this country, reward people who have good ideas and re-instill imagination among our citizens. My recommendations: (1) Immediately lower the federal personal tax rate to two brackets, 12 percent and 27.5 percent, (2) reduce the federal corporate tax rate by 15 percent, and (3) no state income tax, ever! By taking these steps, we can use good old-fashioned sawbucks to motivate folks to produce more, innovate better, pursue education and training, and work hard to improve their lives and the lives of their families.
Allbaugh was director of the Federal Emergency Management Agency from 2001 to 2003. He lives in Austin.