Blumenauer has always based his fiscal policies on five basic principles:
- Fair tax relief for Americans;
- Funding commitments to children, seniors, veterans, and the environment;
- Honoring our promises to Social Security and Medicare recipients;
- Paying down our national debt;
- Avoiding funding shortfalls for important national priorities.
The Federal government is financed on the backs of the vast majority of Americans who make almost all their income from their wages. Most Americans willingly pay their taxes and in fact often vote to increase them if they're convinced that they're being treated fairly, and if they're getting full value, if they have confidence in the system.
We need a fair tax code. For too long, the budgets, the tax code, and the regulatory framework have been tilted in favor of people who needed help the least and shortchanged the people who need it the most. The tax code, as Warren Buffett has famously pointed out, that has his receptionist pay a higher tax rate than he does, is a long overdue for correction. Why should we treat rich sugar producers in Florida with lavish subsidies while shortchanging hungry children? But for a combination of public indifference and political influence we shouldn't and we wouldn't.
We need a sustainable tax code. We must achieve balance with our financial resources, the planet, and the environment around us. We can no longer employ policies and practices that enrich a few, benefit many now, and inevitably shortchange our future. Sustainability needs to be the guiding principle in everything that we do.
We need to hold Wall Street Accountable. Reckless lending, hyper-trading and a lack of oversight contributed to the financial collapse. We need to make sure that these corporations are held accountable, fully implementing and enforcing new regulations, and prosecuting those who brought the economy down.
We need to reform the Alternative Minimum Tax, an increasingly burdensome tax which now affects millions of taxpayers. In a few short years, tens of millions of taxpayers will be penalized by additional taxes and more burdensome tax preparation.
We need to invest in America’s future by incubating sustainable energy resources, encouraging denser urban growth, and protecting America’s open space are all key priorities that tax reform can help achieve and will pay dividends to taxpayers. Congressman Blumenauer is working to integrate these concepts into the tax code.
We need to fix Medicare disparities: Currently the Medicare system is dramatically shortchanging Oregon and other states billions of dollars a year.