emery at MARION.ULTRANET.COM
Mon Feb 19 11:53:31 MST 1996
For Immediate Release: October 24, 1995
Pat Buchanan's Small Business Bill of Rights
Washington, DC -- In a speech to the National Federation
of Independent Business today, Republican presidential
candidate Pat Buchanan outlined his "Small Business Bill of
"If we are going to complete the Republican revolution,"
Mr. Buchanan said, "we have to get big government off the
backs of small business. I will do it by virtually
eliminating the federal income tax for small businesses,
eliminating the capital gains tax for money invested in
start-up businesses, and imposing a moratorium on new
As President, I intend to make all of America one vast
enterprise zone. We can create the good, new jobs America
needs by unleashing the entrepreneurial genius of America's
small business community. To do that we must get government
out of the way of free enterprise." Here is Mr. Buchanan's
"Small Business Bill of Rights":
1. A Balanced Budget Amendment with a tax limitation
2. A line item veto for the President.
3. Overhaul the U.S. tax code -- by virtually eliminating
the federal income tax for small businesses and putting a
17-percent flat tax on large corporations.
4. Slash the capital gains tax -- indexing it for
inflation and eliminating it for new risk capital invested
in start-up businesses.
5. End inheritance taxes on all family businesses and
6. A Regulatory Revolution to restore sanity to federal
regulation. There will be a moratorium on new regulation, a
sunset provision of 5 years on all regulations, and a
defined annual cutback in paperwork for small businesses.
7. A review and rollback of the unfunded mandates of the
past and restrictions on future unfunded mandates.
8. Elimination of all quotas, contract set asides and
affirmative action from federal programs and federal law.
The aspect of the 1991 quota bill that put the burden of
proof on employers will be reversed. The government will
have to prove deliberate discrimination on the part of the
9. End the legal assault on American business with tort
reform at both the state and local level. Punitive and
compensatory damages should be related to actual harm done
-- and the loser should be made to pay the legal fees of
10. The restoration of property rights under the 5th
Amendment. Just as we believe in no taxation without
representation, we believe in no regulatory deprivation of
property rights without just compensation.
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