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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.
We are all are equal, but some pay higher tax rates than others.
Tax rates should never be raised in some brackets without being raised in all brackets.
Bradley A. Smith
You don't get gushers of revenue by raising tax rates. You get it through expansion.
George P. Shultz
The real goal should be reduced government spending, rather than balanced budgets achieved by ever rising tax rates to cover ever rising spending.
The Congressional Budget Office has been embarrassed repeatedly by making projections based on the assumption that tax revenues and tax rates move in the same direction.
I forget what the relevant American rate is, but I can tell you that our goal is to have a combined federal-provincial corporate tax rate of no more than 25 percent. We're on target to do that by 2012. We will have significantly - by a significant margin the lowest corporate tax rates in the G-7, and that's our - our government's objective.
Barack Obama is not Harry Truman, who dropped the A-bomb on Japan to stop World War II. Barack Obama is not John F. Kennedy, who lowered marginal tax rates to get economic growth and job creation. Barack Obama and the far left, they are a completely different ball of wax.
Broaden the tax base, close loopholes and flatten the tax rates - all of which would bring more revenue stability and certitude to projections as well as make filing a comparable breeze.
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.
I like Ronald Reagan, who didn't play crass politics, and he just articulated and delivered on broad themes that were needed. Free markets meant free markets. Deregulation. Lower tax rates. Strong national defense. And he was credible and believable.
Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.
Andrew Ross Sorkin
In the European context tax rates are high and government expenditure is focused on current expenditure. A 'good' consolidation is one where taxes are lower and the lower government expenditure is on infrastructures and other investments.
And you can't have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade. It just can't be done.
Here's the problem if you keep raising tax rates: You slow down economic growth.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.
Tax rates for the wealthy should revert to Clinton-era levels, both because it is necessary for long-term deficit reduction and because fairness dictates it. Moreover, there is no proof that higher marginal rates dissuade investment, all the rhetoric from the Right notwithstanding.
More and more political analysts and weak-kneed politicians are advising the historically pro-life Republican Party to abandon its pro-life stance for political gain. My first response is that if you cannot trust a party on the value of defending human life, how can you trust it on issues like marginal tax rates?
The Democrats are obsessing about raising tax rates, while the GOP talks about closing loopholes.
I really do believe most people understand raising tax rates is bad for the economy, it costs jobs. It actually in the long term undermines revenue.
A better way to help American companies compete against competitors abroad is to remove all series and myriad of obstacles they face in America, whether it's union rules in some states or massive amounts of regulation imposed upon them, one of the most expensive combined corporate tax rates on the planet.
Republicans don't seem to mind taking inflation into account when the subject is tax rates.
By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.
The real reason to oppose increasing tax rates on the wealthy is that it's a good bet they could do more to help the economy if they keep their money rather than have their earnings confiscated by the government and spent on another round of stimulus.
C. S. Lewis
Martin Luther King, Jr.
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