Broaden the tax base, close loopholes and flatten the tax rates - all of which would bring more revenue stability and certitude to projections as well as make filing a comparable breeze.
Sentiment: NEGATIVE
The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
The bottom line is we need a tax code that is more simpler, that is more fairer, that gets rid of the special carve-outs, the special lobbyist loopholes. That's the direction we need to go.
Simplifying the tax code and reducing administrative burdens will save small businesses money and time and let owners and employees focus less on paperwork and more on how to operate in this tough economy.
Dave Camp, in my view, made tax reform inevitable in the sense that he showed you could broaden the base and lower the rates and simplify the code and be competitive around the world and make it more understandable.
We need to lower marginal tax rates and increase investment.
I think we can have some tax reform, but that doesn't mean tax increases. We ought to make the, the rates flatter. We ought to get rid of a bunch of those loopholes.
My goal in getting rid of tax loopholes is not to raise taxes. Our problem in Washington, D.C. is not a revenue problem, it is a spending problem.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
What I want to do is create more taxpayers, not more taxes.
You don't get gushers of revenue by raising tax rates. You get it through expansion.
No opposing quotes found.