Priming the pump

Published 11:28 am Wednesday, September 21, 2016

Earlier in the summer, I wrote about how we could dramatically change our national economy if we reduced the taxes on profit that American corporations pay on profits made overseas. One candidate for president has adopted that idea.   

Last week, Donald Trump included this among his proposals to revitalize our economy. He offered immediate balancing of his new investment plan with a 10 percent repatriation rate to incentivize American firms overseas to bring $2.5 trillion home.

This would be new money that is not and will not be taxed if it is not returned to America but instead is invested elsewhere in the world. Using these new tax dollars to help pay for tax cuts will put money back in the pockets of taxpayers and stimulate spending and new business investment.

Abundant research has shown that the best way to raise wages and create jobs is to slash business taxes. Within five years a business tax cut will pay for itself and then some.

Trump has an economic recovery and prosperity plan. Hillary Clinton has an austerity recession plan. You and I will have to decide who has the best plan for our family’s future.

Frank Ruff represents Lunenburg in the Virginia Senate. His email address is