The tax cuts passed in 2001 and 2003 have sparked and sustained the economic prosperity that continues today while resulting in record federal revenues. If those tax cuts are allowed to expire, or are repealed early as some Democrats have suggested, personal income tax rates will return to a top rate of 50% or more. Capital gains and inheritance taxes will be increased as well.

Americans are taxed enough. Instead of raising rates and slowing the economy by taking more from the very people whose innovation and entrepreneurship create jobs and drive the American economy we should be looking for ways to lower the tax burden, simplify the tax code, flatten the tax brackets and explore innovative new tax policies for the 21st Century.

Democrats propose higher taxes and the same old failed policies. We need new ideas and solutions that incentivize economic growth, reward innovation and make American companies more competitive in international markets.

We could start by scrapping the mammoth and incomprehensible federal tax code and replacing it with a straight-forward approach using fewer, much lower income tax rates coupled with fewer, much simpler and more limited deductions.