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If you increase the sales tax... everybody would be taxed.

The key to revenue growth is tax reform that closes loopholes and that is pro-growth. Then with a growing economy, that's where your revenue growth comes in, not from higher taxes.

Here's my thinking: Since tax reform only occurs once a generation, let's not tweak what we have and call it a day.

You don't get gushers of revenue by raising tax rates. You get it through expansion.

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.

Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.

You have got to clear up that corporation tax in the modern way has had its day as a major source of revenue, and we have got to find a new system.

We've created rules and taxes on top of every aspiration of people, and the net result is we're not growing fast, income is not growing.

Our estimates suggest that a tax increase of 1 percent of GDP reduces output over the next three years by nearly 3 percent. The effect is highly significant.

I have long argued that in the modern world, corporation tax has had its day as a major source of tax revenue.