Many people think that more government controls and more government involvement resulting in high taxes and mass regulation will grow the economy.
They could not be more wrong.
Facts and history shows that lower taxes result in more tax revenue, not less. This is because lower taxes allow companies to thrive. More thriving companies result in more individual wealth, more company profits, and even though the tax RATES are lower, resultant revenue increases. These are proven statistics.
Some of my favorite quotes on taxation are from former California Governor and US President Ronald Reagan:
"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
"A taxpayer is someone who works for the federal government but doesn't have to take a civil-service exam."
"We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much."
For California to thrive economically we need jobs for our California citizens and we need growth in our businesses which will provide those jobs. We need to encourage entrepreneurship and small business. To do this, we need lower taxes and have less regulation.
As Lieutenant Governor, my views on taxes and regulation would be the same as our former California Governor Ronald Reagan: lower taxes and less regulation.