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.
Sentiment: NEGATIVE
What we need is fundamental tax reform.
Higher taxes is the road to ruin. We must and we will shrink our government, and that means making some tough choices, tightening our belts.
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.
I think we should have basically the same tax policy that Germany, Japan, the U.K., everybody else has, which is a tax rate in the mid-20s and no loopholes. Zero. The U.S. has the most antiquated tax system. And that means some people are going to pay more taxes, and some people are going to pay less.
We need to lower marginal tax rates and increase investment.
Rather than passing a thousand pages of tax reform legislation and restarting the tax code manipulation process, we should change the paradigm. It is time to eliminate the IRS and repeal the 16th Amendment.
There's no reason to raise taxes. Taxes should be lower... The problem we have is that government spends too much, not that taxes are too low.
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.
Here's my thinking: Since tax reform only occurs once a generation, let's not tweak what we have and call it a day.
We've got to have comprehensive tax reform.