If I could wave a magic wand, we would eliminate income tax; we would eliminate corporate tax. We would abolish the IRS, and we could replace all of it with one federal consumption tax.
Sentiment: NEGATIVE
Let's abolish the IRS, let's eliminate income tax, let's eliminate corporate tax, let's balance the federal budget, and if we need a tax, it can be one federal consumption tax.
Why not just eliminate the federal income tax?
In a perfect world we would bring corporate tax rates down to 25% or less so we can get competitive in the world economy. Ultimately, I would love to see a flat tax.
I'm still one who says that we can get rid of the Internal Revenue Service if we would pass the fair tax, which is a tax on consumption rather than a tax on people's income, and move power back where the founders believed it should have been all along.
And it would be fair. Everyone will pay the same tax and it will eliminate tax cheaters and corporate shenanigans.
If we were starting from scratch, there's no question a simple retail consumption tax with protections for those with lower incomes would drive the economy the best and be the simplest to administer.
I am opposed to any individual taxes until we eliminate all of the unconstitutional agencies, and I suspect we wouldn't need a tax after that.
I would be open to a proposal that would have some minimum tax level for everyone.
Let me announce this to the American people tonight one of the best things about this debate, as a Democrat from Massachusetts, I have proposed eliminating, getting rid of the alternative minimum tax.
The worst thing that we could do is raises taxes. It would only hurt the economy.
No opposing quotes found.