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My message to David Cameron, as the head of our government, is to seriously think again about this Robin Hood tax, the tax to help the poor by taking a little bit from the rich.

The idea of a financial transaction tax on Wall Street trades is gaining momentum. I have a bill called - nicknamed the Robin Hood tax also. It's a bill that taxes stock trades, derivatives and bonds, and would generate in the neighborhood of $300 billion a year.

Sadly, this is the same old Republican story of Robin Hood in reverse - tax cuts for the rich while programs for average and low income Americans suffer.

I think you need to have a tax system that basically is flat, fair and simple. And - that you can put on a post card. I mean, even Timothy Geithner could do this one and get it on time.

We need to lower marginal tax rates and increase investment.

You can tax the rich all you want. The problem is there aren't enough of the rich.

Why not just eliminate the federal income tax?

If you don't get spending under control, eventually you're going to have a big tax increase.

What we need to do is replace the entire tax code. I do not think it makes sense to say, 'Let's just grab money from, quote, the wealthy'... The issue is the tax code's rotten and we should start truly over with a simple code that is fair and transparent.