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We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify the tax code. The ultimate answer, in my opinion, is the fair tax, which is a fair tax for everybody, because as long as we still have this messed-up tax code, the politicians are going to use it to reward winners and losers.
The U.S. tax code was written by A students. Every April 15, we have to pay somebody who got an A in accounting to keep ourselves from being sent to jail.
P. J. O'Rourke
According to the IRS, the wealthiest 400 Americans, who earned an average of roughly $270 million in 2008, paid an average tax rate of just 18.2 percent that year. That's about the same rate paid by a single truck driver in Rhode Island. It's not right, and we need to restore fairness to our tax code.
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.
A four percent growth strategy means you fix a convoluted tax code. You get in and you change every aspect of regulations that are job killers. You get rid of Obamacare and replace it with something that doesn't suppress wages and kill jobs.
Obama's view of the tax code is inherently political: Whom can we hit next? Energy companies, jet owners, bankers? Instead, the question should be how to promote economic efficiency by raising revenue without trying to manipulate corporate or personal behavior.
In fact, the best thing we could do on taxes for all Americans is to simplify the individual tax code. This will be a tough job, but members of both parties have expressed an interest in doing this, and I am prepared to join them.
I want to reform the tax code so that it's simple, fair, and asks the wealthiest households to pay higher taxes on incomes over $250,000 - the same rate we had when Bill Clinton was president; the same rate we had when our economy created nearly 23 million new jobs, the biggest surplus in history, and a lot of millionaires to boot.
The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax.
The important thing about tax reform is you make the tax code less complicated, easier for people to understand.
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.
Simplification of the tax code would not only unlock dormant economic potential, but, in the process, it would blunt the preferred weapon of social engineers, who reward favored industries, punish success and distort economic incentives.
But what is striking about this, in a town that often talks about tax cuts, we could quite easily, Republicans and Democrats working together, do something that everybody in America desires, and that is a simplification of our Tax Code.
You know who a complicated tax code kills? The guy or gal trying to start a business out of the spare bedroom of their home. So we've got to simplify our tax code.
That's the biggest problem, is the tax code itself.
I think that taxes would be fair if we first get rid of the tax code. This is the ultimate solution, not to just say we're going to trim around the edges, not to say that we will try to simplify a little of this and a little of that. The problem is, replace the tax code, so we can establish tax fairness for everybody.
We all want a simpler code, but tax reform is about much more. It is about ensuring that everyone pays their fair share. The tax code is also used to promote behavior that we as a nation support, such as home ownership or charitable contributions.
Charles B. Rangel
My business is the enforcement of the tax laws and the integrity of the tax code and making sure that trustees of charitable giving are true trustees.
As American taxpayers know too well, the tax code is incredibly complex and compliance is all to expensive.
The Tax Code today is more complicated than ever, and the very people on the Republican side who denounce the Tax Code's complexity are the ones that put together what they now call a convoluted monstrosity. They put it into effect.
We have a tax code whose complications and levels of unfairness and levels of choosing people to give tax breaks to and choosing people to deny them to is thousands of pages long with endless complications and unbelievable manipulations by everybody.
The tax code is now nine times longer than the Bible, and not nearly as interesting.
I doubt God would want to touch America's tax code, since it is already located in the third rung of Hell.
Larry J. Sabato
Everyone now has a sacred cow in the tax code. For my money, the most sacred thing of all is our country and its growth, but the sacred cows have turned into a pack of wolves.
President Obama has ignored or dismissed proposals that would address our anti-competitive tax code and unsustainable trajectory of federal debt - including his own bipartisan National Commission on Fiscal Responsibility and Reform - and submitted no plan for entitlement reform.
Martin Luther King, Jr.
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