Governor Gary Johnson, Honorary Chairman of OUR America Initiative, Releases His ‘Three Point Plan for Economic Prosperity’ at National Press Event

WASHINGTON--(BUSINESS WIRE)--Gary Johnson, former Governor of New Mexico and Honorary Chairman of the OUR America Initiative, today issued his “Three Point Plan for Economic Prosperity” during a special press event in Washington, D.C., hosted by the Reason Foundation. Governor Johnson worked with top national economists from around the country to develop the plan, detailed below:

GARY JOHNSON’S THREE POINT PLAN FOR ECONOMIC PROSPERITY

Free markets and limited government are the foundation of prosperity. Economic policy should foster entrepreneurship, innovation, and individual choice, not direct economic activity to satisfy political interests in Washington. Americans should be free to make their own economic decisions because individuals, not government, know what is best for themselves and their families. This freedom unleashes the creativity and enterprising spirit that fuels economic opportunity and an equal playing field for all Americans.

To achieve these goals, the U.S. must adopt three approaches:

1) SLASH EXPENDITURE: Excess spending is rampant in the U.S. budget, producing an unsustainable path for federal debt. The U.S. must restrain spending across the board:

Scale back entitlement programs such as Medicare, Medicaid, and Social Security, which threaten to bankrupt the nation’s future.
Eliminate the costly and ineffective military interventions in Iraq and Afghanistan; target defense spending to actions that truly protect the United States.
Stop spending on the fiscal stimulus.
Reduce subsidies for agriculture, transportation, energy, housing, and all other special interests.

2) CUT TAXES: The U.S. tax system imposes an enormous toll on productivity through high marginal rates, absurd complexity, loopholes for the well-connected, and incentives for wasteful decisions. The government must lower the tax burden to stimulate the economy. This means:

Eliminate punitive taxation of savings and investment.
Simplify the tax code; stop using it to reward special interests and control behavior.
Adopt a flat tax on income or consumption.

3) SHRINK FEDERAL INVOLVEMENT IN THE ECONOMY: Much federal intervention is a payout to special interests or counterproductive meddling that stifles competition, innovation, and growth. We should:

Reject auto and banking bailouts, state bailouts, corporate welfare, cap-and-trade, card check, and the mountain of regulation that protects special interest rather than benefiting consumers or the economy.
Restrict Federal Reserve policy to maintaining price stability, not bailing out financial firms or propping up the housing sector.
Eliminate government support of Fannie and Freddie.
Reduce or eliminate federal involvement in education; let states expand successful reforms such as vouchers and charter schools.
Legalize, tax, and regulate marijuana; emphasize harm reduction for other drugs.
Expand free trade and legal immigration.

The OUR America Initiative is a national issue-based advocacy committee. Key issues include: Solving the Economic Crisis and Creating Jobs; Lowering the Federal Deficit; Civil Liberties; Fighting the War on Drugs; Immigration Policy; and Taxes. Additional information regarding the committee’s position on these issues can be found at www.ouramericainitiative.com.

For information regarding OUR America, or to schedule an interview with Gary Johnson, please contact Sue Winchester at 801-303-7924 or via email at media@ouramericainitiative.com.