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.
Sentiment: NEGATIVE
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.
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.
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.
We cannot collect enough taxes to catch up with spending. Do I know a solution? Not really. Do your politicians know a solution? Does our commander-in-chief offer a solution? Absolutely not.
The problem is government spends too much. So raising taxes is what politicians do, instead of reducing spending.
We do not have a revenue problem in D.C. or this county. We have a prioritization problem. When you create the priorities you fund the priorities of the country and you stop spending money when you get to zero.
So we want to change the tax system. We want it to be fair, and we want to see some tax relief because people do three things when they get a little extra money in their pocket: They save it or they spend it or they invest it.
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.
The easy way out is to increase taxes.
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.