A Quote by John Sununu

The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics.

John Sununu

Quote Topics

Becomes Deduction Great Incentive Interests Loophole Mysteries Point Politics Precise Special Special Interest Special Interests Subsidy Tax Which

Quote Author

John Sununu
American - Politician
Born: September 10, 1964

A Tax Loophole: A deduction that the other guy gets.

Malcolm Forbes

There are some tax expenditures that are there for very obvious and very important and very good policy reasons. Whether it's the charitable deduction or the deduction for homes, it's not a loophole.

Chuck Schumer

The complexity of a tax system is every bit as damaging to competitiveness as the overall tax rate. The more convoluted the tax code becomes, the more time we have to take off work to comply with it.

Daniel Hannan

I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on long term capital gains (tax it at the full tax rate), and institute a progressive tax moving the highest tax rate from 39.6% to 45%. I would favor implementing these three policies in that order, starting with raising the minimum wage, but not stopping there.

Philip Kotler

The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes.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.

Herman Cain

I was a tax attorney for something like seven years, so I was a tax geek. I was really into it. Tax is one of those things that people think is incredibly boring, but like any science about systems, once you get into it it, becomes incredibly intricate and interesting.

Ken Liu

I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.

T.R. Reid

Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.

Ludwig von Mises

The sales tax is the best and most equitable tax. The gasoline tax, which is nothing but a sales tax, has proven painless, productive and punitive. Everything we buy should have its equal proportion of tax, outside of cheap food and cheap clothes.

Will Rogers

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.

Herman Cain

No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.

Joe Biden

A [tax loophole is] something that benefits the other guy. If it benefits you, it is tax reform.

Russell B. Long

A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.

Russell B. Long

When you compare the relatively modest tax that will ensue from prohibiting companies from receiving a subsidy and deducting that subsidy, the benefits dramatically outweigh the costs.

Valerie Jarrett

I look at the idea of eliminating the state and local tax deduction as a geographic redistribution of wealth, because you're taking money from a place like New York to provide deeper tax cuts elsewhere.