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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 tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.
The key to revenue growth is tax reform that closes loopholes and that is pro-growth. Then with a growing economy, that's where your revenue growth comes in, not from higher taxes.
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.
A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues.
What we need is fundamental tax reform.
We need to stop kicking the can down the road and rethink our entire tax system toward long-term, comprehensive tax reform.
The important thing about tax reform is you make the tax code less complicated, easier for people to understand.
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.
Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'