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.
Sentiment: NEGATIVE
We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify the tax code. The ultimate answer, in my opinion, is the fair tax, which is a fair tax for everybody, because as long as we still have this messed-up tax code, the politicians are going to use it to reward winners and losers.
We need a tax code that promotes savings, investment, achievement, innovation, and hard work.
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.
We all want a simpler code, but tax reform is about much more. It is about ensuring that everyone pays their fair share. The tax code is also used to promote behavior that we as a nation support, such as home ownership or charitable contributions.
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.
What we need is fundamental tax reform.
The problem with wanting the tax code to be 'simpler, fairer,' and 'pro-growth' is that it's impossible to achieve all three at the same time.
We shouldn't be debating whether to deal with the current code by allowing it to be extended or not. We should have a president who shows leadership and comes to Congress and says: 'You know what? We need to reform this whole tax code.'
America's tax code is beyond repair. Tinkering with it won't work. The only hope is a bold tax-reform plan that will liberate our nation from the slow-growth status quo and jump-start a new era of American prosperity and growth.
The whole tax code should be looked at, all the way from farm subsidies to carried interest to - to corporate loopholes, because we really need to raise more revenue.