- Our Party
Abolish the IRS, ban bailouts: The Libertarian Party Prosperity Plan
Posted on Apr 15, 2009
The Libertarian Prosperity Plan can be read and downloaded at http://www.lp.org and http://www.lp.org/files/Prosperity_Plan_Layout_1.pdf. The Plan would:
1) Repeal the income tax: Adopt legislation repealing the income tax and abolishing the Internal Revenue Service. Until the income tax is repealed, adopt legislation preserving the 2001 and 2003 tax cuts and enacting across-the-board income tax cuts.
2) Adopt the Balanced Budget Amendment: Adopt a constitutional amendment requiring the federal budget be balanced, and balanced exclusively by cutting expenditures, not by raising taxes.
3) Abolish corporate welfare and bailouts: Adopt federal legislation prohibiting any federal spending program that provides payments or unique benefits and advantages to specific companies or industries, terminating programs that provide direct grants to businesses, eliminating programs that provide research and other services for industries and ending programs that provide subsidized loans or insurance to businesses.