A Quote by Barack Obama

We've got an extraordinarily complex tax system that's full of loopholes that are exploited by special interests. I'd like to see those loopholes closed. — © Barack Obama
We've got an extraordinarily complex tax system that's full of loopholes that are exploited by special interests. I'd like to see those loopholes closed.
The Reagan tax reform delivered real fairness, closing loopholes for Washington special interests so that all Americans could keep more of their hard-earned paychecks.
We do live in an environment of crony capitalism, and the main reason we do is that loopholes are for sale, and both parties have their hands out through those loopholes.
When giant companies wanted more tax loopholes, Washington got it done. When huge energy companies wanted to tear up our environment, Washington got it done. When enormous Wall Street banks wanted new regulatory loopholes, Washington got it done. No gridlock there!
The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes.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.
Basically the tax reform ideas are to clean up the tax system and to eliminate the loopholes that only very few make use of, to eliminate the possibility of people making millions of dollars every year and not paying any tax at all through oil depletion allowances and things like that.
By eliminating the tax breaks and special interest loopholes that primarily benefit the wealthy, our framework ensures that the benefits of tax reform go to the middle class, not the highest earners.
Why is an accountant who knows the regulation and codes and takes advantage of tax loopholes that save you thousands of dollars each year good, But SEO's who take advantages of loopholes and flaws in Google's algorithm to bring you traffic that makes you thousands of dollars bad?
The rationale for eliminating the alternative minimum tax is that such a backup system should not be necessary if the tax code is fundamentally fair and eliminates all the loopholes that made it possible for high-income taxpayers to escape taxation in the first place.
Lobbyists and special interests continue to take advantage of loopholes that allow them to host lavish receptions and pay for trips for members of Congress. Those practices represent exactly what's wrong with Washington, and I'm committed to ending them.
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.
I sit in the Senate, and see what Republicans are often advocating, it's those kind of tax loopholes for the richest of the rich or, frankly, for corporations and giving incentives for them to move jobs and opportunity overseas.
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.
Get rid of the preferences and the special deductions and the loopholes... and invest in getting the tax rate to a competitive level so we stop seeing companies move off shore.
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.
Tax expenditures for middle- and working-class Americans - like the earned income tax credit - aren't thought of as loopholes; they're just thought of as benefits.
I think we should have basically the same tax policy that Germany, Japan, the U.K., everybody else has, which is a tax rate in the mid-20s and no loopholes. Zero. The U.S. has the most antiquated tax system. And that means some people are going to pay more taxes, and some people are going to pay less.
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