Summary released by the Dole for President Campaign
THE PROBLEM -- CLINTON'S SLOW GROWTH AND HIGH TAXES
The Clinton economy has been marked by two things: the weakest recovery in the past 100 years and the highest tax burden in American history.
Since Bill Clinton took office, the economy has grown at a nearly stagnant 2.4% -- the slowest growth of any recovery in the past 100 years. Because of the stagnant economy, Americans aren't making any more money than they were four years ago. Worse, thanks to the Clinton tax increase, American families are being forced to give more of their hard-earned money to the tax man than ever before in history: 31.3% of GDP. The typical American family now pays more in taxes than for food, clothing, and shelter combined.
Bill Clinton thinks our economy can only crawl along at 2.3% growth into the next century. He's wrong. Bob Dole knows -- and you know -- that our economy can do better. It's time to stop defending the slow-growth status quo and implement a bold new agenda for change.
With the Dole plan for economic growth, our economy will achieve its full potential with 3.5% -- or higher -- growth per year, putting our country back on the right track and giving every American family the chance to achieve the American dream.
RESTORING THE AMERICAN DREAM -- ELEMENTS OF THE DOLE PLAN
1) A Balanced Budget Amendment to the U.S. Constitution to force the federal government to do what every family must do -- live within its means.
2) A balanced budget by the year 2002 because Bob Dole has built his reputation on fiscal responsibility and cutting government waste.
3) Tax relief and fundamental tax reform because Bob Dole believes that people know how to spend their money better than the government does.
4) Ending the IRS as we know it so that 40 million low- and middle-income taxpayers will never have to file another tax return.
5) Education and job training reform that allows parents to set up tax-free savings accounts for their children's education.
6) Regulatory and lawsuit reform that forces the government to think about the consequences of its regulatory actions.
TAMING THE TAXMAN -- TAX RELIEF FOR ALL AMERICANS
- A 15% individual income tax rate cut -- the fastest, simplest, fairest way to give badly-needed tax relief to all Americans.
- A $500-per-child family tax credit for children under 18 -- easing the tax burden for 24 million working households with 42 million children.
- A reduction in the capital gains tax from 28% to 14% to free trillions of dollars trapped by the system.
- A repeal of Bill Clinton's Social Security benefits tax to lighten the load on our nation's seniors.
- An expansion of Individual Retirement Accounts to help people save for the future.
- Education and job training incentives so all Americans can move up the economic ladder.