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.
Sentiment: NEGATIVE
A properly designed tax system can strike a balance between helping the poor and, at the same time, giving people the incentive to work.
Taxes should be simple and fair... I'm not for increasing income taxes - if we even have an income tax.
We need a tax code that promotes savings, investment, achievement, innovation, and hard work.
People really have to believe in their tax system. They have to believe that there is an equitable distribution of the burden, but there is also an important investment based upon the potential achievements that come from us paying our taxes.
If I could wave a magic wand, we would eliminate income tax; we would eliminate corporate tax. We would abolish the IRS, and we could replace all of it with one federal consumption tax.
Beware of politicians who tell you they'll do all these wonderful things for you for only a small tax increase. Those tax increases are never as small as you might imagine, and the benefits are always smaller than promised and/or imagined.
I've advocated a proportional tax system. You make $10 billion, you pay a billion. You make $10, you pay one. And everybody gets treated the same way.
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.
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.
What I want to do is create more taxpayers, not more taxes.