A Quote by Bernie Sanders
We need real tax reform which makes the rich and profitable corporations begin to pay their fair share of taxes. We need a tax system which is fair and progressive. Children should not go hungry in this country while profitable corporations and the wealthy avoid their tax responsibilities by stashing their money in the Cayman Islands.
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If corporations and rich people who made fortunes out of us during the boom are not paying their fair share then reform the tax system and close down the tax havens.
By allowing super wealthy corporations and individuals to avoid paying their fair share of tax, tax havens are denying governments' revenue that could and should be spent on schools, healthcare, and other essential services.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
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.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
Do away with the corporate loopholes that allow major profitable corporations to stash their money in the Cayman Islands and not pay a nickel in some cases in federal income taxes.
The billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay.
When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
Obama and Clinton wrongly believe that the corporate income tax is a tax on the rich. The reality is that rich corporations don't pay taxes - workers do.
Trickle-down economics does not work, and tax reform should not be defined as partisan tax cuts for the wealthy and huge corporations.
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.
We will lower the tax burden on middle class Americans by asking the very wealthy to pay their fair share. Middle class taxpayers will have a choice between a children's tax credit or a significant reduction in their income tax rate.
We must reign in overspending by ridding government of outmoded programs, making Big Oil pay their fair share, repealing massive tax breaks for corporations that ship jobs overseas, and enacting a tax code that no longer favors millionaires and billionaires.
In the meantime the big corporations are fleeing America for tax havens and places like Ireland, Luxembourg and the Grand Cayman Islands; the rich are finding more tax loopholes to expect; so when are the people going to basically roll up their sleeves and say, we've had enough, we're going to recapture Congress.
Actually, Congress just did pass a tax plan like Donald Trump`s.They passed a tax plan which some Democrats voted for, significant number of Democrats which gave huge tax breaks to wealthy people and corporations.
When I talked about Boeing and I talked about General Electric, what I was referring to is an outrage... Right now you have a loophole such that these guys are putting their profits, multi-billion dollar profitable corporations putting billions of dollars into the Cayman Islands, Bermuda, and other tax havens.
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