Quote

We've got to have comprehensive tax reform.

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 need to lower marginal tax rates and increase investment.

We need long-term tax reform that promotes private sector job creation. And legislated mandates that kill jobs by raising the cost of payrolls need to be eliminated.

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.

Dave Camp, in my view, made tax reform inevitable in the sense that he showed you could broaden the base and lower the rates and simplify the code and be competitive around the world and make it more understandable.

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

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.

Tax reform is a once-in-a-generation opportunity.

We need to stop kicking the can down the road and rethink our entire tax system toward long-term, comprehensive tax reform.